Seeds of Wisdom RV and Economic Updates Thursday Morning 1-23-25
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CME’S XRP AND SOL FUTURES PAGE GOES LIVE: MAJOR STEP TOWARDS FEBRUARY 10 LAUNCH
In a significant development for the broader cryptocurrency market and ongoing digital asset adoption in the US and globally, the Chicago Mercantile Exchange (CME), the world’s largest derivatives marketplace, briefly added a futures page for XRP and Solana (SOL) to its staging subdomain.
This move indicates preparations for an official announcement regarding the launch of futures contracts for these two leading cryptocurrencies, set to go live on February 10, pending regulatory review.
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CME’S XRP AND SOL FUTURES PAGE GOES LIVE: MAJOR STEP TOWARDS FEBRUARY 10 LAUNCH
In a significant development for the broader cryptocurrency market and ongoing digital asset adoption in the US and globally, the Chicago Mercantile Exchange (CME), the world’s largest derivatives marketplace, briefly added a futures page for XRP and Solana (SOL) to its staging subdomain.
This move indicates preparations for an official announcement regarding the launch of futures contracts for these two leading cryptocurrencies, set to go live on February 10, pending regulatory review.
XRP And SOL Futures On The Horizon?
The futures page was briefly visible before being taken down, after a user on social media platform X (formerly Twitter) shared a screenshot revealing its content.
The page highlighted that traders could engage in “regulated capital-efficient futures” for XRP and SOL, emphasizing the flexibility and risk management these contracts would offer.
Specifically, the contracts are expected to be available in both standard and micro-sized formats, allowing investors to scale their exposure to these cryptocurrencies more
Key features of the upcoming contracts include the ability to manage exposure to SOL and XRP through financially settled contracts in US dollars, eliminating the need for a crypto wallet.
This setup positions the CME’s offerings within a regulated environment overseen by the Commodity Futures Trading Commission (CFTC), which is known for its transparent pricing and financial safeguards.
James Seyffart, a Bloomberg expert, commented on the development, stating that the emergence of these futures contracts is both logical and anticipated, given the current market dynamics.
However, despite the excitement surrounding the potential introduction of XRP and SOL futures, market reactions have been relatively muted. Investors appear to be awaiting further official confirmation from the CME before making significant moves.
Short-Term Challenges, But Monthly Performance Remains Strong
At the close of the day, XRP was trading at $3.15, while Solana remained at $249. Both tokens recorded slight losses of approximately 2% over the past 24 hours, reflecting a broader trend in the cryptocurrency market as traders await catalysts to drive prices upward.
While the short-term outlook may seem challenging, both XRP and SOL have seen remarkable gains over the past month, with increases of 32% and 42%, respectively.
Solana recently reached a new record high of $293 just before Donald Trump’s presidential inauguration, while XRP has made impressive strides, hitting a seven-year high of $3.38, though it still falls short of its previous peak of $3.40 from the 2018 market rally.
As the market anticipates official confirmation regarding the CME’s futures contracts, the potential for XRP and SOL to enter a new price discovery phase remains.
If these futures are officially launched, they could significantly impact trading activity and investor sentiment for both cryptocurrencies, paving the way for further institutional interest and market growth.
@ Newshounds News™
Source: Bitcoinist
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COINBASE EXECUTIVE DISCOVERS 430 BTC IN DOZENS OF ROSS ULBRICHT’S DORMANT WALLETS, VALUED AT $47M
▪️Coinbase exec discovers 430 Bitcoins linked to Ross Ulbricht, now worth $47M, untouched for over 13 years.
▪️Trump’s pardon of Ross Ulbricht sparks debate, as crypto community celebrates his release despite Silk Road’s criminal activities.
President Trump has kept one of his reelection promises by pardoning Ross Ulbricht, the founder of Silk Road and a key figure in the early days of Bitcoin, who has been in prison for 12 years. In a recent tweet, a Coinbase executive claimed that he discovered Bitcoin linked to Ross, valued at nearly $47 million, which has been untouched for more than 13 years.
430 Bitcoins Excluded from Government Seizure
Conor Grogan, Coinbase’s Director of Product Strategy and Business Operations, recently announced that he discovered around 430 bitcoins in several wallets linked to Ross Ulbricht, the founder of Silk Road.
This discovery comes after Ulbricht received a full pardon from President Donald Trump information
Grogan highlighted that these bitcoins, valued at approximately $47 million today, were not part of the 174,000 BTC seized by U.S. authorities. This seizure occurred from Silk Road-affiliated wallets after the platform was shut down in 2013. These bitcoins have remained untouched for over 13 years.
In his post on X, Grogan shared a screenshot of what he believes is one of Ulbricht’s Bitcoin addresses, which currently holds 88.7 BTC, as verified by the blockchain explorer Mempool.
Conor said, “Back then these were probably dust wallets, now, collectively, they are worth about $47M. Welcome back Ross.”
He noted that these funds were likely considered insignificant at the time but now represent a significant value. Grogan also mentioned the possibility that Ulbricht might still have access to the private keys, suggesting that time would tell if they can be recovered.
Despite his criminal activities, Mr. Ulbricht remains popular among crypto enthusiasts because Silk Road was an early platform for Bitcoin transactions. His supporters believe his sentence was too harsh and have promoted the “Free Ross” slogan at industry events and online.
Why did Trump Pardon Ross Ulbricht?
President Trump’s pardon of Ross Williams Ulbricht follows through on his campaign pledges to confront what he calls a “weaponized government.” In a post on Truth Social announcing the pardon, Trump labeled Ulbricht’s conviction as a result of political corruption and openly criticized the prosecutors.
Ulbricht is celebrated as a cult hero among crypto enthusiasts, who see Silk Road as an early adopter of Bitcoin. The “Free Ross” slogan has been a popular rallying cry at blockchain events and in online forums for years.
The crypto community, having reportedly donated over $100 million to Trump’s reelection campaign, played a significant role in Ulbricht’s release.
However, critics are concerned that pardoning Ross Ulbricht could lead to more lenient treatment for similar crimes in the future. They point out the serious harm from drugs traded on Silk Road, arguing that it sends the wrong message about holding people accountable for profiting from illegal activities.
@ Newshounds News™
Source: Coinpedia
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Seeds of Wisdom RV and Economic Updates Wednesday Evening 1-22-25
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COINBASE SEEKS COURT RULING TO CLARIFY CRYPTO TRADES AND CHALLENGE SEC’S AUTHORITY: BLOOMBERG
As per a latest Bloomberg report, Coinbase Inc. asked the Second Circuit to say that digital token trades on its platform aren’t transactions governed under federal securities law.
“There is no more pressing issue in securities law today than the scope of the Securities and Exchange Commission’s authority to regulate secondary trades of digital assets,” Coinbase said in its petition docketed in the US Court of Appeals for the Second Circuit. The appeals court could “clear away the cloud that currently hangs over the cryptocurrency market,” it noted.
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COINBASE SEEKS COURT RULING TO CLARIFY CRYPTO TRADES AND CHALLENGE SEC’S AUTHORITY: BLOOMBERG
As per a latest Bloomberg report, Coinbase Inc. asked the Second Circuit to say that digital token trades on its platform aren’t transactions governed under federal securities law.
“There is no more pressing issue in securities law today than the scope of the Securities and Exchange Commission’s authority to regulate secondary trades of digital assets,” Coinbase said in its petition docketed in the US Court of Appeals for the Second Circuit. The appeals court could “clear away the cloud that currently hangs over the cryptocurrency market,” it noted.
Second Circuit Ruling Could Accelerate Resolution
Notably, A decision by the Second Circuit stating that token trades aren’t securities transactions could speed up the end of the SEC’s case against Coinbase and ease US crypto regulations. The Trump administration has indicated that it will provide crypto companies with greater regulatory flexibility.
The case gives the appeals court a chance to weigh how it should apply the “Howey test” to crypto transactions.
Coinbase argued in its brief that trades on its platform are not investment contracts, but asset sales. The US District Court for the Southern District of New York granted Coinbase’s request to seek an immediate appeal earlier this month in an SEC enforcement suit.
The US Chamber of Commerce and Blockchain Association have filed briefs supporting the Second Circuit’s review of the Coinbase case.
They highlighted that the lack of clarity on whether crypto trades are investment contracts could have negative effects, as federal courts remain divided on the issue.
The Need For Legal Clarity
The SEC sued Coinbase in 2023, accusing the platform of operating as an unregistered securities exchange. Coinbase argues that its crypto trades aren’t investment contracts and thus not under SEC jurisdiction.
Coinbase’s chief legal officer emphasized the need for legal clarity on this issue. Meanwhile, Trump’s SEC has created a “crypto task force” to develop a clear regulatory framework, and the US Court of Appeals has ordered the SEC to explain its refusal to provide crypto-specific rules.
@ Newshounds News™
Source: Coinpedia
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REPUBLICANS SEEK TO OVERTURN IRS CRYPTO BROKER RULE
Corresponding resolutions were introduced to “roll back the disastrous” rule requiring custodial brokers to report transactions
Congressional Republicans are working to reverse new IRS guidelines that require so-called “custodial brokers” to report transactions.
Rep. Mike Carey and Sen. Ted Cruz this week introduced corresponding resolutions seeking to “roll back the disastrous IRS broker rule.”
The legislation comes weeks after a group of crypto lobbying firms sued the IRS over the rule. They claim the requirement “exceeds the agencies’ statutory authority, violates the Administrative Procedure Act (“APA”) and is unconstitutional.”
As it currently stands, starting in 2025, custodial brokers are required to report gross proceeds. In 2026, they will have to report cost basis for certain transactions
.
The final version of the 1099-DA form was published at the end of last year. While earlier drafts had included a section where brokers had to identify their “type” of business, the final form nixed this box. It’s a small change, but by cutting this section the IRS more or less punted the issue of DeFi actors.
Even so, those opposed to the rule claim that the rule still imposes unfair reporting obligations on intermediaries and other actors in the crypto space.
The resolutions have some co-sponsors (Sens. Cynthia Lummis and Tim Sheehy, to name a few), but neither have been scheduled for a markup or vote just yet. This is a hot-button issue in the crypto space though, so we’d expect companies to be directing a significant amount of their lobbying efforts here.
@ Newshounds News™
Source: Blockworks
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COINBASE CEO: EXCHANGE WILL DELIST USDT IF AUTHORITIES DEMAND IT
Coinbase CEO recently stated that his exchange would delist Tether’s USDT if authorities demand it or if Tether fails to comply with new US laws.
New Stablecoin Regulations on Horizon
Coinbase Global CEO Brian Armstrong has said his cryptocurrency exchange would have no choice but to delist the stablecoin issued by Tether, known as USDT, should authorities demand it.
Armstrong, who has lobbied the U.S. to create a cryptocurrency framework, added that Coinbase would take similar action if Tether fails to comply with any new U.S. laws.
However, according to a Wall Street Journal (WSJ) report, the CEO acknowledges that many of Coinbase’s users hold the stablecoin, and the company’s desire is to preserve this status quo.
Armstrong’s remarks about the possibility of Coinbase completely delisting USDT from its platforms come a month after the crypto exchange delisted the stablecoin on its platform used by Eurozone residents.
As reported by Bitcoin.com News, months before the delisting, Coinbase, which is a shareholder in another stablecoin issuer Circle, framed the move as part of its efforts to adhere to new rules requiring issuers to obtain an e-money license from a European Union member state.
The new rules also obligate stablecoin issuers to hold a portion of their reserves in cash at banks, something Tether reportedly opposes.
“There are a lot of people with tether, and we want to give them an off-ramp, if we want to help them transition to a system that we think is more secure,” Armstrong said.
With the U.S. set to shift its stance under Donald Trump, some believe that two stablecoin bills seeking to require stablecoin issuers to hold U.S. Treasury bonds will be passed. If enacted, such a law would compel Tether and other stablecoin issuers to liquidate non-U.S. Treasury assets.
Late last year, Tether, which posted a net profit of $2.5 billion in the third quarter of 2024, claimed to hold over $105 billion in cash and cash equivalents, with a notable $102.5 billion in direct and indirect exposure to U.S. Treasuries. Furthermore, the stablecoin issuer disclosed that it held assets, including precious metals and secured loans, with a face value of just over $20 billion.
While the enactment of laws proposed by U.S. lawmakers would require Tether to convert these assets to U.S. Treasury bonds, the WSJ report acknowledged that neither bill has made significant progress.
@ Newshounds News™
Source: Bitcoin News
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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-22-25
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BRICS: 40 COUNTRIES LOOK TO DITCH THE US DOLLAR
BRICS member China is looking to convince 40 new countries to use the Chinese yuan for cross-border transactions and not the US dollar. The Communist country is aiming to capitalize on the growing de-dollarization trend and is pushing the Chinese yuan for trade.
For the uninitiated, the usage of the Chinese yuan for trade settlements has surged 4.6% in 2024, compared to 2% in 2019. The currency usage has more than doubled in six years and is threatening the prospects of the US dollar.
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BRICS: 40 COUNTRIES LOOK TO DITCH THE US DOLLAR
BRICS member China is looking to convince 40 new countries to use the Chinese yuan for cross-border transactions and not the US dollar. The Communist country is aiming to capitalize on the growing de-dollarization trend and is pushing the Chinese yuan for trade.
For the uninitiated, the usage of the Chinese yuan for trade settlements has surged 4.6% in 2024, compared to 2% in 2019. The currency usage has more than doubled in six years and is threatening the prospects of the US dollar.
If the US fails to import the dollar overseas, it would return to the homeland leading to inflation. Therefore, the USD needs to maintain its top position in the currency markets to sustain the American economy and keep prices lower.
BRICS: CHINA SIGNING AGREEMENTS WITH 40 COUNTRIES TO USE THE CHINESE YUAN, NOT US DOLLAR
The People’s Bank of China (PBOC) has signed bilateral trade deals with over 40 countries to use the Chinese yuan for trade settlements. The trade agreement is with the central banks of developing countries and initiates currency swaps.
The overall scale of the currency swap agreement stands at 4.16 trillion yuan, equivalent to $586 billion. The development gives the BRICS country China power through the currency market and dampens the US dollar’s global prospects.
China, Russia, and Iran are the three BRICS countries that are aggressively looking to end dependency on the US dollar. They are forging new trade deals and rewriting policy settlements that prefer using local currencies.
The dynamics of de-dollarization are advancing as more countries are willing to trade in the national currencies. China is leveraging the situation and taking advantage of the White House weaponizing the US dollar.
@ Newshounds News™
Source: Watcher Guru
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BANK OF AMERICA READY FOR CRYPTO PAYMENTS — DECODING HOW BANKING WILL CHANGE FOREVER
Is the banking industry prepared for the disruption crypto payments might cause, and if Bank of America leads the charge, what lasting changes can we expect in how banks, businesses, and consumers interact?
Bank of America CEO advocates for crypto…
▪️Bank of America CEO advocates for crypto payments
▪️Bank of America’s twofold relationship with crypto
▪️How U.S. institutions are stepping into crypto
▪️Decoding the probable impact
Bank of America CEO advocates for crypto payments
The banking and crypto worlds have often seemed like two ships passing in the night — acknowledging each other’s existence but rarely finding common ground.
However, Bank of America CEO Brian Moynihan has now thrown his weight behind the idea of integrating crypto payments into the U.S. financial system — but only if regulators give the green light.
Speaking at the prestigious World Economic Forum in Davos, Switzerland, Moynihan addressed a question that has long lingered over the industry — what would it take for banks to embrace crypto as a payment method?
“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan remarked during an interview with CNBC.
“If you go down the street here and buy lunch, for example, you could pay with Visa, Mastercard, a debit card, Apple Pay, and so on. In that sense, cryptocurrency would just be another form of payment,” Moynihan explained.
He also discussed a growing realization that crypto — especially stablecoins backed by traditional assets like the U.S. dollar — could seamlessly integrate into existing payment networks.
“If it’s a stablecoin-type of dollar-backed crypto…and our consumers actually want to use it, we think there’s value there,” Moynihan said, hinting that banks could view these tokens as a safer entry point into the crypto payments space.
However, Moynihan did not touch upon the notion of cryptocurrencies like Bitcoin as an investment or store of value, stating that it is “really a separate question.”
Bank of America’s twofold relationship with crypto
Bank of America has not always been optimistic about crypto. For years, the institution’s top executives voiced strong concerns, often portraying crypto as a challenge to the transparency and security upon which the banking system relies.
Back in 2018, BofA’s Chief Technology Officer, Cathy Bessant, expressed sharp criticism of crypto’s fundamental structure, stating:
“As a payment system, I think it’s troubling because the foundation of the banking system is on the transparency between the sender and the receiver, and cryptocurrency is designed to be nothing of the sort.”
She labelled crypto as the “antithesis” of transparency, mentioning how its pseudonymous nature made it difficult for authorities to “catch bad guys.”
However, over the years, BofA’s stance has drastically evolved. The bank has invested heavily in blockchain, recognizing its potential to enhance efficiency, reduce costs, and modernize financial systems.
“We have hundreds of patents on blockchain already,” CEO Brian Moynihan remarked recently in Davos.
The bank’s interest in crypto itself has also grown. In 2024, BofA’s Merrill Lynch added Bitcoin exchange-traded funds to its brokerage platforms for eligible wealth management clients.
The U.S. Securities and Exchange Commission recently announced the creation of a crypto task force aimed at establishing a “sensible regulatory path,” which could provide the necessary guidance for banks like BofA to integrate crypto payments into their operations.
@ Newshounds News™
Read more: Crypto News
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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-22-25
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EU ENFORCES STRICT STABLECOIN REGULATIONS, ORDERS REMOVAL OF NON-COMPLIANT TOKENS
The EU regulator has ordered all crypto exchanges to remove unauthorized stablecoins like Tether by March 2025, with a ban on new acquisitions starting January 2025, as part of its comprehensive stablecoin regulation implementation.
▪️EU regulator ESMA mandates crypto exchanges remove non-compliant stablecoins by end of Q1 2025
▪️Tether’s USDT will be affected as it lacks EU authorization and has no plans for MiCA compliance
▪️Exchanges must stop enabling clients to acquire unauthorized stablecoins by January’s end
▪️Clients holding non-compliant stablecoins have until March to convert to compliant alternatives
▪️Major exchanges like Coinbase have already begun restricting services for non-compliant stablecoins
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EU ENFORCES STRICT STABLECOIN REGULATIONS, ORDERS REMOVAL OF NON-COMPLIANT TOKENS
The EU regulator has ordered all crypto exchanges to remove unauthorized stablecoins like Tether by March 2025, with a ban on new acquisitions starting January 2025, as part of its comprehensive stablecoin regulation implementation.
▪️EU regulator ESMA mandates crypto exchanges remove non-compliant stablecoins by end of Q1 2025
▪️Tether’s USDT will be affected as it lacks EU authorization and has no plans for MiCA compliance
▪️Exchanges must stop enabling clients to acquire unauthorized stablecoins by January’s end
▪️Clients holding non-compliant stablecoins have until March to convert to compliant alternatives
▪️Major exchanges like Coinbase have already begun restricting services for non-compliant stablecoins
The European Securities and Markets Authority (ESMA) has issued a clear directive to the 27 EU member states requiring the removal of non-compliant stablecoins from trading platforms.
The announcement sets a firm deadline of Q1 2025 for full compliance with the EU’s stablecoin regulations.
Under the new requirements, crypto asset service providers (CASPs) must cease offering trading services for unauthorized asset-referenced tokens (ARTs) and electronic money tokens (EMTs). This mandate specifically targets stablecoins that lack proper EU authorization, notably affecting major players like Tether’s USDT.
The timeline established by ESMA requires exchanges to stop enabling new acquisitions of unauthorized stablecoins by the end of January 2025. Current holders of these assets will have until the end of March to convert their holdings to compliant alternatives, ensuring an orderly transition in the market.
Leading cryptocurrency exchange Coinbase has already taken steps to align with these requirements. The company restricted services related to non-compliant stablecoins for its Retail, Exchange, and Prime Vault customers across its European operations starting December 13, 2024.
Tether, one of the largest stablecoin issuers globally, has shown its response to the regulatory pressure by discontinuing its euro stablecoin, EURT, in November. The company has not obtained the necessary e-money license to operate within the EU, unlike competitor Circle, which secured its license in July.
The European Commission has provided additional clarity on the regulations through Peter Kerstens, an advisor involved in drafting the legislation. Kerstens emphasized that the rules are straightforward: unauthorized crypto-assets cannot be listed, regardless of their underlying currency.
Questions had arisen in the crypto community about whether the regulations would affect stablecoins that were already listed before the MiCA regulations came into force. The Commission’s clarification confirms that pre-existing listings are not exempt from the new requirements.
The regulatory framework requires that any entity offering or seeking admission for stablecoins within the EU must either be a bank or an e-money institution and publish a white paper. Third parties may offer these tokens only with the issuer’s consent, and the issuer must still maintain proper authorization.
ESMA’s clarification came after the authority itself sought guidance from the European Commission, highlighting the complexity of implementing these regulations.
This consultation process has resulted in a clear interpretation: crypto exchanges qualify as third parties seeking admission and must ensure their listed stablecoins comply with all regulatory requirements.
For crypto exchanges operating in the EU, this means conducting a thorough review of their stablecoin offerings. They must verify that each listed stablecoin either has proper authorization or must be removed from their trading platforms by the specified deadline.
The regulations also address concerns about monetary sovereignty, particularly regarding non-Euro stablecoins. However, these rules primarily focus on real-world payments rather than crypto trading activities.
EU authorities are emphasizing the importance of an orderly transition to prevent market disruption. Exchanges are expected to communicate clearly with their users about the upcoming changes and provide guidance on converting non-compliant stablecoin holdings.
Industry observers note that these measures align with the EU’s broader strategy to create a regulated and secure cryptocurrency market. The clear deadlines and requirements aim to provide stability and protection for market participants.
Current holders of non-compliant stablecoins are advised to stay informed about their exchange’s compliance timeline and prepare for the necessary conversions before the March deadline. Exchanges are expected to provide detailed instructions and support for this transition process.
@ Newshounds News™
Source: Blockonomi
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CIRCLE STRENGTHENS USDC ECOSYSTEM WITH HASHNOTE ACQUISITION AND TOKENIZED FUNDS
▪️Circle’s acquisition of Hashnote and integration of USDC and USYC into the Canton Network strengthen its position in tokenized finance, bridging DeFi with traditional markets.
▪️Circle’s innovations and increased demand for tokenized assets could drive Ethereum adoption, reinforcing its role as a foundational blockchain in global finance.
After Circle donated 1 million USDC to Trump’s inaugural committee, CNF highlighted this as a significant step in showcasing stablecoin acceptance in mainstream politics. Circle’s next move, the acquisition of Hashnote, further expands its influence in tokenized asset growth and the $48 billion USDC stablecoin ecosystem.
Hashnote, a leader in tokenized real-world assets and creator of USYC, a $1.3 billion tokenized money market fund, is a strategic acquisition that positions Circle at the forefront of bridging blockchain technology with traditional finance. The acquisition was announced in a tweet, emphasizing its positive implications.
The integration of USYC with Circle’s platform enables it to serve as yield-bearing collateral on major digital asset exchanges and institutions, strengthening both the USDC and USYC ecosystems.
Strengthening USDC and USYC Ecosystems
Circle plans to integrate USDC and USYC into the Canton Network, a blockchain designed for real-world asset transactions backed by leading financial institutions.
A tweet from Circle highlighted the partnership with DRW, a prominent traditional and crypto market player via its affiliate Cumberland, as a critical step in enhancing institutional adoption and operational efficiency in digital finance.
The partnership with DRW, a major player in traditional and crypto markets via its affiliate Cumberland, is a huge unlock for supporting USDC and USYC and elevating institutional adoption and operational efficiencies in digital finance.
This integration provides seamless convertibility between cash (USDC) and yield-bearing assets (USYC), ensuring liquidity and bridging decentralized finance (DeFi) with traditional financial markets. Circle’s collaboration with Cumberland also improves liquidity and collateral management for institutional digital asset transactions.
Circle CEO Jeremy Allaire emphasized the company’s commitment to shaping the future of tokenized finance by uniting liquid payment systems with yield-bearing assets. This acquisition marks a significant step toward creating a unified system where tokenized cash and money markets coexist, driving adoption across global trading platforms.
Implications for Ethereum’s Ecosystem and Market Value
These developments have substantial implications for Ethereum, the blockchain supporting both USDC and USYC. As Circle strengthens its tokenized asset ecosystem, demand for Ethereum’s network is likely to rise due to increased transaction volumes and DeFi integrations.
@ Newshounds News™
Source: Crypto News Flash
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Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-21-25
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FINLAND’S NASDAQ HELSINKI WELCOMES VIRTUNE’S 5 CRYPTO ETPS: BTC, ETH, XRP, SOL, AND ALTCOINS
The products will be listed on the Finnish Nasdaq Helsinki.
Virtune, a leading Swedish regulated crypto asset manager, has successfully listed five crypto exchange-traded products (ETPs) in Finland’s Nasdaq Helsinki. The products include top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and altcoins.
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FINLAND’S NASDAQ HELSINKI WELCOMES VIRTUNE’S 5 CRYPTO ETPS: BTC, ETH, XRP, SOL, AND ALTCOINS
The products will be listed on the Finnish Nasdaq Helsinki.
Virtune, a leading Swedish regulated crypto asset manager, has successfully listed five crypto exchange-traded products (ETPs) in Finland’s Nasdaq Helsinki. The products include top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and altcoins.
The launch marks a key milestone for Finland as it represents the nation’s first crypto ETPs. It is also the biggest crypto ETP launch on a regulated market in northern Europe’s Nordic nations like Denmark, Finland, Iceland, Norway, and Sweden.
@ Newshounds News™
Read more: Crypto Flash News
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XRP, DOGE, SOL, AND OTHER COINS GET NEW ETF FILINGS
REX Shares has filed multiple exotic ETF applications for such tokens as XRP, Solana (SOL), and Dogecoin (DOGE). Leading ETF analyst Eric Balchunas has stated that REX is not just a random issuer, noting that its CEO was "an early pioneer in the industry."
Greg King, the founder and CEO of the Florida-based firm, has launched more than 100 ETFs and notes for such major names as BONK and Dogecoin. The filing also seeks to create funds for Bitcoin, Ethereum, Solana, and XRP.
Meanwhile, Teucrium, another ETF issuer, has filed for 2x Long & Short XRP ETFs. As reported by U.Today, leading analyst Nate Geraci previously predicted that an XRP ETF would be approved this year.
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Read more: U Today
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TRUMP PARDONS FORMER SILK ROAD FOUNDER AND BITCOIN ICON ROSS ULBRICHT
Those who convicted Ulbricht were "some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote Tuesday.
President Donald Trump announced Tuesday the pardon of Ross Ulbricht, founder of the Silk Road online marketplace.
In a social media post on Truth Social, Trump said he had granted Ulbricht a "full and unconditional pardon," citing support from the Libertarian movement and criticizing the government’s handling of Ulbricht’s case.
Ulbricht, 40, was convicted in 2015 on charges including conspiracy to traffic narcotics and money laundering in connection with the Silk Road, a darknet site that facilitated billions of dollars in illegal drug transactions.
He received a sentence of two life terms plus 40 years without parole, sparking years of debate over the fairness of his punishment.
"The scum that worked to convict him were some of the same lunatics involved in the modern-day weaponization of government against me," Trump wrote.
The pardon is expected to draw sharp reactions from both supporters and critics.
Advocates for Ulbricht have long argued his sentence was excessive, while opponents highlight the scale of criminal activity linked to the Silk Road.
@ Newshounds News™
Source: Decrypt
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HERE IS THE FULL LIST OF PRESIDENTIAL ACTIONS TRUMP SIGNED ON DAY ONE
These bold initiatives mark a stark departure from the Biden regime’s globalist policies and signal a return to the principles that put the American people first.
Here is the list of presidential actions Trump signed on Monday following his inauguration:
1. Withdrawing The United States From The World Health Organization
2. Application Of Protecting Americans From Foreign Adversary Controlled Applications Act To TikTok
3. Granting Pardons And Commutation Of Sentences For Certain Offenses Relating To The Events At Or Near The United States Capitol On January 6, 2021
4. Putting America First In International Environmental Agreements
5. Delivering Emergency Price Relief for American Families and Defeating the Cost-of-Living Crisis
6. Hiring Freeze
7. Regulatory Freeze Pending Review
8. Return to In-Person Work
9. Ending The Weaponization Of The Federal Government
10. Restoring Freedom Of Speech And Ending Federal Censorship
11. Securing Our Borders
12. Protecting The Meaning And Value Of American Citizenship
13. Realigning the United States Refugee Admissions Program
14. Unleashing American Energy
15. Clarifying The Military’s Role In Protecting The Territorial Integrity Of The United States
16. America First Trade Policy
17. Memorandum to Resolve the Backlog of Security Clearances for Executive Office of the President Personnel
18. Declaring A National Emergency At The Southern Border Of The United States
19. Holding Former Government Officials Accountable For Election Interference And Improper Disclosure Of Sensitive Governmental Information
20. Restoring Accountability To Policy-Influencing Positions Within the Federal Workforce
21. Protecting The American People Against Invasion
22. The Organization for Economic Co-operation and Development (OECD) Global Tax Deal (Global Tax Deal)
23. Organization of the National Security Council and Subcommittees
24. Reevaluating And Realigning United States Foreign Aid
25. Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects
26. Declaring a National Energy Emergency
27. Restoring Accountability for Career Senior Executives
28. Promoting Beautiful Federal Civic Architecture
29. Restoring The Death Penalty And Protecting Public Safety
30. Putting People Over Fish: Stopping Radical Environmentalism to Provide Water to Southern California
31. Guaranteeing The States Protection Against Invasion
32. Restoring Names That Honor American Greatness
33. Designating Cartels And Other Organizations As Foreign Terrorist Organizations And Specially Designated Global Terrorists
34. Reforming The Federal Hiring Process And Restoring Merit To Government Service
35. Ending Radical And Wasteful Government DEI Programs And Preferencing
36. Defending Women From Gender Ideology Extremism And Restoring Biological Truth To The Federal Government
37. Establishing And Implementing The President’s “Department Of Government Efficiency”
38. America First Policy Directive To The Secretary Of State
39. Protecting The United States From Foreign Terrorists And Other National Security And Public Safety Threats
40. Unleashing Alaska’s Extraordinary Resource Potential
With bold leadership and a clear vision, Trump has reaffirmed his commitment to putting America first. You can read each of these executive orders on the White House’s website.
@ Newshounds News™
Source: TruthPress
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-21-25
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SEC LAUNCHES CRYPTO TASK FORCE TO DEVELOP CLEAR REGULATION
In a recent announcement, the US Securities and Exchange Commission (SEC) announced the launch of a brand new crypto task force. Specifically, the agency is set to develop “a comprehensive and clear regulatory framework for crypto assets,” according to a recently released press release.
The announcement is part of the expected changes to come from the incoming administration. With Donald Trump officially inaugurated into office Monday, he announced the appointment of Mark Uyeda as acting chair of the agency. His presence comes following former Chair Gary Gensler’s resignation this week.
Good Afternoon Dinar Recaps,
SEC LAUNCHES CRYPTO TASK FORCE TO DEVELOP CLEAR REGULATION
In a recent announcement, the US Securities and Exchange Commission (SEC) announced the launch of a brand new crypto task force. Specifically, the agency is set to develop “a comprehensive and clear regulatory framework for crypto assets,” according to a recently released press release.
The announcement is part of the expected changes to come from the incoming administration. With Donald Trump officially inaugurated into office Monday, he announced the appointment of Mark Uyeda as acting chair of the agency. His presence comes following former Chair Gary Gensler’s resignation this week.
SEC Launching Crypto Task Force to Develop New Regulatory Framework
For the last several years, the SEC has developed a rather contentious relationship with the digital asset sector. Under the former Biden Administration, the agency adopted a regulation-by-enforcement approach. As a result, companies like Ripple found themselves engaged in years of court battles with the agency.
Yet, that has begun to change today. With Donald Trump beginning his second non-consecutive term as US President Monday, the SEC has announced the launch of a crypto task force dedicated to the formulation of a clear regulatory framework for which the industry will be governed.
Chairman Uyeda announced the framework, with Commissioner Hester Peirce set to lead it. “Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law,” the agency said.
Additionally, they noted things like clear regulations and a pathway to registration “have been elusive.” Moreover, they noted, “The SEC can do better.” The task force appears to be the first step in that pursuit. It could be the beginning of the United States’ path to being a global crypto leader.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
NO CRYPTO FOCUS IN TRUMP’S 200 EXECUTIVE ORDERS: WHAT’S NEXT?
▪️Trump’s first 200 executive orders did not include any clear actions related to Bitcoin or cryptocurrencies.
▪️David Bailey hinted at potential crypto-related content but admitted uncertainty about the specifics.
▪️The crypto community was disappointed as Trump prioritized energy, immigration, and security over digital assets.
US President Donald Trump signed his first 200 executive orders shortly after assuming office. However, despite speculation and expectations from the crypto community, none of these orders were related to virtual assets like Bitcoin or other cryptocurrencies.
David Bailey, CEO of Bitcoin Magazine and former cryptocurrency advisor to the Trump campaign, shared his insights on X (formerly Twitter), stating:
“Got confirmation tonight that our EOs are among the first 200.”
However, he admitted uncertainty about the specifics. “I have no idea what made it in, but good news cometh,” he added.
Interestingly, the crypto community had hoped for stronger signals from the administration. Rumors before Trump’s inauguration suggested that he might prioritize cryptocurrency, perhaps even declaring it a national priority or establishing a Bitcoin reserve. But these ambitions did not materialize.
No Crypto in Trump’s First-day Executive Orders
On his first day, Trump directed his attention to immigration, energy, and federal operations. Key actions included reversing Biden’s restrictions on oil drilling and announcing, “We will extract as much oil as we can.” He also withdrew the US from the Paris Climate Agreement, a global initiative to combat climate change.
In another notable move, Trump signed a decree granting TikTok an additional 75 days to find a US buyer, allowing its operations in the country to continue temporarily. While this decision aimed to address security concerns, critics noted the absence of actions supporting the burgeoning crypto industry.
Fox Business journalist Eleanor Terrett expressed disappointment, tweeting:
“No Day 1 executive orders on #crypto or industry-related pardons, then?”
This sentiment echoed across the crypto community, which had anticipated early moves to recognize or regulate digital assets.
A Shift in Focus, a Missed Opportunity?
Cryptocurrency advocates were left questioning why digital assets, widely viewed as transformative, were left off the agenda. Before Trump’s term, some hoped he would pardon Ross Ulbricht, the Silk Road founder serving a life sentence. However, no such measures emerged.
During his inaugural speech, Trump remained silent on the topic of cryptocurrencies, further deepening concerns. David Bailey reassured enthusiasts by saying that their [our] “decrees are coming too”, suggesting that virtual assets might gain attention later in Trump’s presidency.
Despite the initial absence of crypto-focused orders, the speculation surrounding Trump’s approach to digital assets highlights the growing importance of cryptocurrency in national policy discussions. For now, the crypto world watches and waits, hopeful for future recognition and regulation.
@ Newshounds News™
Source: CoinSpeaker
~~~~~~~~~
HESTER PEIRCE TAPPED TO LEAD SEC’S NEW CRYPTO TASK FORCE
Acting SEC chair Mark Uyeda appoints Hester Peirce to lead a task force focused on crypto regulations and market integrity.
▪️The SEC has formed a Crypto Task Force under Commissioner Hester Peirce to establish proactive regulation and clear legal standards.
▪️The initiative aims to support innovation while addressing industry confusion over previously enforcement-focused approaches.
The SEC has established a Crypto Task Force under the leadership of Commissioner Hester Peirce, with Acting Chairman Mark T. Uyeda announcing the initiative on Tuesday.
Richard Gabbert and Taylor Asher will serve as Chief of Staff and Chief Policy Advisor, respectively, bringing together experts across the agency to work with Commission staff, industry participants, and the public.
“The SEC has relied too heavily on enforcement actions to regulate crypto, often adopting untested legal interpretations,” Uyeda said.
The task force seeks to move toward proactive regulation by establishing clear legal standards, creating practical registration pathways, and maintaining market integrity while supporting innovation.
The announcement comes as Uyeda serves as interim SEC Chair until Paul Atkins assumes the role under President Donald Trump’s administration.
The initiative aims to address industry confusion resulting from the SEC’s previous enforcement-focused approach by developing clear regulatory guidelines and disclosure frameworks for crypto assets.
@ Newshounds News™
Source: Crypto Briefing
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-21-25
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BRICS REALIZE THEY CANNOT CHALLENGE THE US DOLLAR
The US dollar started 2025 with a bang leaving local currencies of BRICS countries distantly behind in the charts. The DXY index, which tracks the performance of the US dollar shows the currency crossing the 110 mark.
The US markets are confident that Trump’s re-election could turn the fortunes of America and bring economic prosperity. The same positivity is lacking in developing countries as their local currencies are being hammered by the raging US dollar.
Good Morning Dinar Recaps,
BRICS REALIZE THEY CANNOT CHALLENGE THE US DOLLAR
The US dollar started 2025 with a bang leaving local currencies of BRICS countries distantly behind in the charts. The DXY index, which tracks the performance of the US dollar shows the currency crossing the 110 mark.
The US markets are confident that Trump’s re-election could turn the fortunes of America and bring economic prosperity. The same positivity is lacking in developing countries as their local currencies are being hammered by the raging US dollar.
The BRICS alliance, which kick-started the de-dollarization agenda is now reeling under pressure from the US dollar. BRICS country India’s local currency, the rupee, has fallen to a lifetime low of 86.68 this week. The rupee fell four trading sessions in a row as the USD trampled the currency in the charts. Currency experts predict that the Indian rupee could fall to 90 to 92 levels in the next 10 months.
BRICS No Challenge to the US Dollar
The US dollar is strengthening in the indices with the massive inflow of funds entering the American markets. Institutional investors offloaded most of their overseas funds and are now taking entry positions in the US markets.
The belief that Trump’s rule could bring fortunes has reached a peak in 2025. The first instance of the market gaining steam occurred immediately after he was declared the winner in November. This puts BRICS on the back foot as it stands no chance to challenge the US dollar during Trump’s tenure.
Trump has already threatened BRICS with 100% tariffs if they plan to abandon the US dollar for trade. The alliance is now left with obeying his demands as a tariff increase will only hurt their economies.
The de-dollarization agenda could fail under his rule as the President-elect aims to safeguard the USD. Whether he will bring in laurels to the US stock market or cause a dent, only time will tell.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
RAMASWAMY EXITS DOGE FOR OHIO GOVERNOR BID, LEAVING MUSK AS SOLE HEAD
Vivek Ramaswamy said on X he was leaving the Department of Government Efficiency and was “confident that Elon and the team will succeed in streamlining government.”
Entrepreneur and former presidential candidate Vivek Ramaswamy will no longer co-lead the Department of Government Efficiency (DOGE) alongside Elon Musk, and is reportedly opting to run for Ohio governor instead.
“It was my honor to help support the creation of DOGE,” Ramaswamy said in a Jan. 20 X post. “I’m confident that Elon and the team will succeed in streamlining government.”
Ramaswamy didn’t elaborate on his future plans, but CBS News and The New York Times were among the US media outlets reporting that the business leader and author would soon announce he is running run for governor of Ohio.
Ramaswamy said that he’d “have more to say very soon” while reaffirming his support for President Donald Trump.
“Vivek Ramaswamy played a critical role in helping us create DOGE. He intends to run for elected office soon, which requires him to remain outside of DOGE based on the structure that we announced today,” DOGE spokesperson Anna Kelly told the Associated Press.
Ohio Governor Mike DeWine’s second — and legally his last — term will end in January 2027.
On Jan. 18, Ramaswamy re-shared an X post from a parody account using this likeness that stated he was running for governor of Ohio, with the pro-crypto Republican commenting that it wasn’t “a bad idea.”
Politico reported that Musk made it known that he wanted Ramaswamy out of DOGE in recent days. A Republican strategist close to Trump’s advisers told Politico that Ramaswamy “just burned through the bridges and he finally burned Elon. Everyone wants him out of Mar-a-Lago, out of D.C.”
The move was driven in part by Ramaswamy’s criticism of American culture. In December, he made a post on X stating that tech companies hire foreign workers partly because of a mindset that has “venerated mediocrity over excellence.”
The now-solely Musk-led advisory organization, named after his favored cryptocurrency Dogecoin, was officially created through one of a slew of executive orders that Trump signed on his first day in office.
DOGE is already on the firing line as it was hit with lawsuits from consumer advocate group Public Citizen and other nonprofit groups minutes after Trump took office.
The lawsuits allege that DOGE violates the Federal Advisory Committee Act by allowing private individuals to make government decisions without proper transparency and oversight.
DOGE, which was announced by Trump soon after his electoral victory in November, is designed to slash federal spending through budget cuts and mass firings.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Monday Evening 1-20-25
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MARK UYEDA NAMED ACTING SEC CHAIR AMONG TRUMP APPOINTMENTS
Members of the US Commodity Futures Trading Commission also announced on Jan. 20 that Caroline Pham would serve as acting chair, filling two crucial regulatory roles
US Securities and Exchange Commission member Mark Uyeda will be acting chair of the financial regulator as of Jan. 20 following an announcement from the Trump administration.
Good Evening Dinar Recaps,
MARK UYEDA NAMED ACTING SEC CHAIR AMONG TRUMP APPOINTMENTS
Members of the US Commodity Futures Trading Commission also announced on Jan. 20 that Caroline Pham would serve as acting chair, filling two crucial regulatory roles
US Securities and Exchange Commission member Mark Uyeda will be acting chair of the financial regulator as of Jan. 20 following an announcement from the Trump administration.
*****************************
In a Jan. 20 notice from the White House, President Donald Trump said Uyeda would replace outgoing SEC Chair Gary Gensler in an acting capacity until the US Senate could confirm one of his nominees. Uyeda, a Republican, has served at the SEC since 2022 after being nominated by former US President Joe Biden.
Before taking office, Trump announced on social media that he planned to nominate former SEC Commissioner Paul Atkins to replace Gensler.
Atkins’ name appeared on a list of sub-cabinet appointments Trump said he had nominated to the Senate. It’s unclear when the chamber could consider his nomination as an SEC member.
Meanwhile, members of the US Commodity Futures Trading Commission announced on Jan. 20 that Commissioner Caroline Pham would serve as acting chair after Rostin Behnam stepped down.
The heads of the two financial regulators will be in a position to significantly influence policy related to digital assets.
As an SEC member, Uyeda criticized the commission’s approach to digital assets under Gensler, saying it “neither facilitates capital formation nor protects investors.” Under the former chair, the SEC filed several enforcement actions against US-based crypto firms, including Ripple Labs, Coinbase, Terraform Labs and Binance.
New administration, new approach to crypto?
It’s unclear what the status of these lawsuits will be under the Trump administration or Acting Chair Uyeda. The SEC will reportedly consider freezing all enforcement cases that don’t involve allegations of fraud.
Since taking the oath of office at 12:00 pm ET, Trump has not mentioned digital assets or blockchain on his first official day as US president. He had also pledged to commute the sentence of Silk Road founder Ross Ulbricht.
Reports suggested Trump was planning on signing an executive order potentially related to crypto, but the White House had not announced anything at the time of publication. Neither digital assets nor blockchain appeared on the administration’s list of policy priorities as they were first published on Jan. 20.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
**********************
DONALD TRUMP APPOINTS CAROLINE PHAM AS ACTING CFTC CHAIR
The CFTC commissioner has previously called for regulating digital assets in her role with the financial regulator, which could change under Donald Trump.
In one of his first official acts after being sworn in as US president, Donald Trump will name Commodity Futures Trading Commission (CFTC) member Caroline Pham as the acting chair of the financial regulator.
In an announcement shared with Cointelegraph on Jan. 20, a representative of Commissioner Pham said she would replace former CFTC Chair Rostin Behnam temporarily until Trump could nominate a permanent head of the regulator whom the Senate could confirm.
She has been serving as a CFTC commissioner since April 2022 after being nominated by former US President Joe Biden.
“I’m humbled to lead the CFTC as Acting Chairman,” said Pham. “It is an honor to be entrusted to serve the American people during this pivotal time.”
Behnam announced in January that he planned to step down on the day of Trump’s inauguration. Though any new CFTC commissioner or chair would need to be confirmed by a majority of lawmakers in the US Senate after hearings, Trump has the authority to appoint temporary replacements under the Federal Vacancies Reform Act.
As a CFTC commissioner, Pham has called on the government to address crypto regulation and proposed initiatives to protect investors.
It’s unclear what roles the CFTC and Securities and Exchange Commission will have in regulating crypto under the Trump administration, with many US lawmakers suggesting they plan to pass legislation establishing a market framework.
Trump took the oath of office as US president on Jan. 20 but notably did not mention digital assets or blockchain technology in his acceptance speech. In one of his last acts as a private citizen before assuming office, he and his wife, Melania, announced the launch of memecoins, which critics claim allow anyone to funnel money indirectly into the first family’s pockets.
US crypto regulation under Donald Trump
The appointment of Pham is one of many actions potentially affecting the crypto industry Trump is expected to take on his first day in office. The US president said he intended to nominate former SEC Commissioner Paul Atkins to replace Gary Gensler as chair of the financial regulator — Gensler officially stepped down on Jan. 20.
In May 2024, Trump promised to commute the sentence of Silk Road founder Ross Ulbricht, and reports have suggested he plans to sign at least one executive order related to crypto or blockchain.
The White House is expected to announce what executive orders Trump will sign on Jan. 20, but reports suggested the number would be “close to 100.”
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-20-25
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INCOMING PRESIDENT TRUMP SHOWS SUPPORT FOR INNOVATION, BUT MAKES NO MENTION OF CRYPTO DURING INAUGURATION SPEECH
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump is also set to issue crypto-related executive orders.
Dinar Recaps Note: Sorry, this is the same as our last Seeds of Wisdom post. The new post is up now ( link ).
Good Afternoon Dinar Recaps,
INCOMING PRESIDENT TRUMP SHOWS SUPPORT FOR INNOVATION, BUT MAKES NO MENTION OF CRYPTO DURING INAUGURATION SPEECH
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump is also set to issue crypto-related executive orders.
In his return to Washington D.C. on Monday, Donald Trump touted his support for innovation, though did not specifically mention crypto during his inauguration speech on Monday.
“There’s no nation like our nation,” Trump said. “Americans are explorers, builders, innovators, entrepreneurs and pioneers. The spirit of the frontier is written into our hearts."
However, Trump did not mention crypto in a document titled "President Trump's America First Priorities" in an email sent out by the office of the press secretary. Punchbowl News earlier released the document.
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump made several promises to the sector, including promising to commute Ross Ulbrucht's sentence, who is currently serving a life sentence without the possibility of parole for his role in creating and operating the dark web marketplace Silk Road, tied to bitcoin's early history.
Trump also vowed to stop "Joe Biden's crusade to crush crypto" by ensuring the future of crypto will not be "driven overseas," supporting the right to self-custody and preventing the development of a central bank digital currency. Some Republican lawmakers have been staunchly opposed to a CBDC and say a CBDC could open the door to government surveillance of peoples' transactions.
Trump is reportedly poised to issue executive orders on his first day that could include creating a crypto council and ensuring that firms have access to banks, according to Reuters.
The Washington Post reported last week that Trump could also issue executive orders that encompass repealing the U.S. Securities and Exchange Commission's controversial crypto accounting guidance, SAB 121.
A potential crypto council could have anywhere between 10 to 100 members. Those members will presumably be crypto executives, but those decisions will be up to the firms to pick who will represent them in the council, said Ron Hammond, senior director of government relations at the Blockchain Association, in an interview with The Block last week.
Trump also plans to issue an executive order to set cryptocurrency as a national policy priority, Bloomberg reported last week, citing sources familiar with the matter.
Days before his inauguration, Trump's team launched the TRUMP token on the Solana blockchain which reached a market cap of over $9 billion.
Trump has also previously thrown his support behind the debut of World Liberty Financial, a DeFi protocol that counts former that counts the President-elect as its "chief crypto advocate." That project was criticized by some crypto pundits who called it "a meme masquerading as a utility project."
@ Newshounds News™
Source: The Block
~~~~~~~~~
OVER $200B WIPED FROM CRYPTO MARKETS AFTER TRUMP IGNORES CRYPTO IN CEREMONY SPEECH
The total crypto market cap dumped toward $3.6 trillion.
Donald Trump’s highly anticipated inauguration ceremony officially took place, and he is now the 47th US president.
Despite the numerous reports ahead of time about potentially including crypto in his speech, Trump failed to mention it even once, which triggered a massive crash for the entire market.
Just as the inauguration began, BTC’s price tumbled by over five grand, going from more than $107,000 to under $102,000 in minutes.
However, it managed to recover some ground and spiked to $105,000 during the speech. However, once that concluded and it became evident that Trump will not mention the digital asset industry at all, BTC and the rest of the market headed south immediately.
BTC’s nosedive took it south to $100,500 (for now). Many altcoins bled even more heavily, including Trump’s official meme coin.
The recently launched asset is down by over 20% in the past hour alone and now struggles to remain above $40. Recall that it peaked above $70 earlier today but has faced a lot of competition and criticism following the launch of Melania Trump’s alternative.
Other massive losers include SPX, FARTCOIN, HBAR, WIF, LINK, AAVE, WLD, TIA, BONK, and more, as all of them have dropped by more than 6% in the last hour.
The total crypto market cap went from a daily high of over $3.850 trillion to $3.6 trillion during the crash.
The wrecked positions have shot up to nearly $200 million within that same timeframe. Almost 400,000 traders have been liquidated on a daily scale, according to data from CoinGlass.
@ Newshounds News™
Source: Crypto Potato
~~~~~~~~~
US CBDC ‘IS DEAD’ UNDER TRUMP, BUT STABLECOINS COULD BE SET TO EXPLODE
President Donald Trump has promised to “never allow” a CBDC in the United States, but stablecoin adoption is well on its way.
Now that US President Donald Trump has taken his oath of office, the chances for a US central bank digital currency (CBDC) are all but finished.
Trump has been a vocal opponent of CBDCs, promising on the campaign trail in New Hampshire in 2024 that he would “never allow the creation of a central bank digital currency,” as he claimed it would give the government “absolute control over your money.”
Trump made the promise early on in the campaign, back in January 2024, but there’s little to suggest that the president has changed his mind. Top picks for Trump’s Cabinet and prominent members of the Republican-controlled Congress have also vocally opposed a CBDC.
However, US lawmakers are still focused on proliferating digital currencies. In the absence of a digital dollar and with significant bipartisan support, stablecoin adoption could see significant growth under the incoming administration.
CBDCs are dead; long live the stablecoin
“CBDC in the US is dead under Trump,” Geoff Kendrick, global head of digital assets research at Standard Chartered, told Cointelegraph. “Instead, they’re going down the private stablecoin route, and the Fed has no control over that.”
Indeed, stablecoin legislation is already making its way through the system. In the House of Representatives, Rep. Patrick McHenry introduced the Clarity for Payment Stablecoins Act of 2023, while in the Senate, Wyoming Republican Senator Cynthia Lummis and New York Democratic Senator Kirsten Gillibrand submitted the Lummis-Gillibrand Payment Stablecoin Act.
These bills would provide regulatory guardrails that the industry has been saying it needs in order to succeed.
Some have suggested the industry could see new stablecoin regulations soon, as it would be a quick win for representatives on both sides of the aisle, who will need to defend their seats again in 2026.
Kendrick said, “I think, under Trump, you’ll get passage in the next few months of a stablecoin bill that creates regulation. You’ll then probably get more TradFi players issuing stablecoins in the US [...] and you’ll also get more surety behind the two largest stablecoins, Tether and USDC.”
The pivot to private stablecoins can be explained by two important factors: the clear privacy concerns surrounding CBDCs and the fact that central banks are having a hard time convincing the public of their benefits.
CBDCs raise concerns about privacy and government oversight
Reuters and The Washington Post have reported that the Trump administration is planning mass dismissals of federal employees, paving the way for them to be replaced by appointees loyal to the administration.
Administration spokesperson Brian Hughes told Reuters, “The Trump Administration will have a place for people serving in government who are committed to defending the rights of the American people, putting America first, and ensuring the best use of working men and women’s tax dollars.”
This rhetoric fits into the wider Republican skepticism of government involvement in the financial industry and the desire to deregulate that industry broadly. It comes as no surprise then that CBDCs, which are already a subject of public privacy concerns, should be a target.
John Kiff, a digital currency expert and former senior financial sector expert at the International Monetary Fund, told Cointelegraph that users “want cash-like anonymity and privacy, but central banks are reluctant to offer that as they bend the knee to financial integrity laws and regulations” like Anti-Money Laundering and Countering the Financing of Terrorism laws.
Kiff said, “Purported benefits are related to such things as increasing financial inclusion and reducing the costs to users and merchants of transactions.”
Trump himself suggested that, with a CBDC, the government “could take your money, and you wouldn’t even know it was gone.”
@ Newshounds News™
Read more: CoinTelegraph
~~~~~~~~~
LIVE: THE INAUGURATION OF DONALD J. TRUMP AS THE 47TH PRESIDENT OF THE UNITED STATES 1/20/25
If you missed the Inauguration Ceremony today, you can still watch it on the Rumble link here from Right Side Broadcasting Network.
@ Newshounds News™
Source: Rumble
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-20-25
Good Afternoon Dinar Recaps,
INCOMING PRESIDENT TRUMP SHOWS SUPPORT FOR INNOVATION, BUT MAKES NO MENTION OF CRYPTO DURING INAUGURATION SPEECH
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump is also set to issue crypto-related executive orders.
Good Afternoon Dinar Recaps,
INCOMING PRESIDENT TRUMP SHOWS SUPPORT FOR INNOVATION, BUT MAKES NO MENTION OF CRYPTO DURING INAUGURATION SPEECH
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump is also set to issue crypto-related executive orders.
In his return to Washington D.C. on Monday, Donald Trump touted his support for innovation, though did not specifically mention crypto during his inauguration speech on Monday.
“There’s no nation like our nation,” Trump said. “Americans are explorers, builders, innovators, entrepreneurs and pioneers. The spirit of the frontier is written into our hearts."
However, Trump did not mention crypto in a document titled "President Trump's America First Priorities" in an email sent out by the office of the press secretary. Punchbowl News earlier released the document.
During his campaign, Trump drummed up support from top executives, among others, in the crypto industry looking for a change in the U.S. regulatory environment.
Trump made several promises to the sector, including promising to commute Ross Ulbrucht's sentence, who is currently serving a life sentence without the possibility of parole for his role in creating and operating the dark web marketplace Silk Road, tied to bitcoin's early history.
Trump also vowed to stop "Joe Biden's crusade to crush crypto" by ensuring the future of crypto will not be "driven overseas," supporting the right to self-custody and preventing the development of a central bank digital currency.
Some Republican lawmakers have been staunchly opposed to a CBDC and say a CBDC could open the door to government surveillance of peoples' transactions.
Trump is reportedly poised to issue executive orders on his first day that could include creating a crypto council and ensuring that firms have access to banks, according to Reuters. The Washington Post reported last week that Trump could also issue executive orders that encompass repealing the U.S. Securities and Exchange Commission's controversial crypto accounting guidance, SAB 121.
A potential crypto council could have anywhere between 10 to 100 members. Those members will presumably be crypto executives, but those decisions will be up to the firms to pick who will represent them in the council, said Ron Hammond, senior director of government relations at the Blockchain Association, in an interview with The Block last week.
Trump also plans to issue an executive order to set cryptocurrency as a national policy priority, Bloomberg reported last week, citing sources familiar with the matter.
Days before his inauguration, Trump's team launched the TRUMP token on the Solana blockchain which reached a market cap of over $9 billion. Trump has also previously thrown his support behind the debut of World Liberty Financial, a DeFi protocol that counts former that counts the President-elect as its "chief crypto advocate." That project was criticized by some crypto pundits who called it "a meme masquerading as a utility project."
@ Newshounds News™
Source: The Block
~~~~~~~~~
OVER $200B WIPED FROM CRYPTO MARKETS AFTER TRUMP IGNORES CRYPTO IN CEREMONY SPEECH
The total crypto market cap dumped toward $3.6 trillion.
Donald Trump’s highly anticipated inauguration ceremony officially took place, and he is now the 47th US president.
Despite the numerous reports ahead of time about potentially including crypto in his speech, Trump failed to mention it even once, which triggered a massive crash for the entire market.
Just as the inauguration began, BTC’s price tumbled by over five grand, going from more than $107,000 to under $102,000 in minutes.
However, it managed to recover some ground and spiked to $105,000 during the speech. However, once that concluded and it became evident that Trump will not mention the digital asset industry at all, BTC and the rest of the market headed south immediately.
BTC’s nosedive took it south to $100,500 (for now). Many altcoins bled even more heavily, including Trump’s official meme coin. The recently launched asset is down by over 20% in the past hour alone and now struggles to remain above $40. Recall that it peaked above $70 earlier today but has faced a lot of competition and criticism following the launch of Melania Trump’s alternative.
Other massive losers include SPX, FARTCOIN, HBAR, WIF, LINK, AAVE, WLD, TIA, BONK, and more, as all of them have dropped by more than 6% in the last hour.
The total crypto market cap went from a daily high of over $3.850 trillion to $3.6 trillion during the crash.
The wrecked positions have shot up to nearly $200 million within that same timeframe. Almost 400,000 traders have been liquidated on a daily scale, according to data from CoinGlass.
@ Newshounds News™
Source: Crypto Potato
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US CBDC ‘IS DEAD’ UNDER TRUMP, BUT STABLECOINS COULD BE SET TO EXPLODE
President Donald Trump has promised to “never allow” a CBDC in the United States, but stablecoin adoption is well on its way.
Now that US President Donald Trump has taken his oath of office, the chances for a US central bank digital currency (CBDC) are all but finished.
Trump has been a vocal opponent of CBDCs, promising on the campaign trail in New Hampshire in 2024 that he would “never allow the creation of a central bank digital currency,” as he claimed it would give the government “absolute control over your money.”
Trump made the promise early on in the campaign, back in January 2024, but there’s little to suggest that the president has changed his mind. Top picks for Trump’s Cabinet and prominent members of the Republican-controlled Congress have also vocally opposed a CBDC.
However, US lawmakers are still focused on proliferating digital currencies. In the absence of a digital dollar and with significant bipartisan support, stablecoin adoption could see significant growth under the incoming administration.
CBDCs are dead; long live the stablecoin
“CBDC in the US is dead under Trump,” Geoff Kendrick, global head of digital assets research at Standard Chartered, told Cointelegraph. “Instead, they’re going down the private stablecoin route, and the Fed has no control over that.”
Indeed, stablecoin legislation is already making its way through the system. In the House of Representatives, Rep. Patrick McHenry introduced the Clarity for Payment Stablecoins Act of 2023, while in the Senate, Wyoming Republican Senator Cynthia Lummis and New York Democratic Senator Kirsten Gillibrand submitted the Lummis-Gillibrand Payment Stablecoin Act.
These bills would provide regulatory guardrails that the industry has been saying it needs in order to succeed.
Some have suggested the industry could see new stablecoin regulations soon, as it would be a quick win for representatives on both sides of the aisle, who will need to defend their seats again in 2026.
Kendrick said, “I think, under Trump, you’ll get passage in the next few months of a stablecoin bill that creates regulation. You’ll then probably get more TradFi players issuing stablecoins in the US [...] and you’ll also get more surety behind the two largest stablecoins, Tether and USDC.”
The pivot to private stablecoins can be explained by two important factors: the clear privacy concerns surrounding CBDCs and the fact that central banks are having a hard time convincing the public of their benefits.
CBDCs raise concerns about privacy and government oversight
Reuters and The Washington Post have reported that the Trump administration is planning mass dismissals of federal employees, paving the way for them to be replaced by appointees loyal to the administration.
Administration spokesperson Brian Hughes told Reuters, “The Trump Administration will have a place for people serving in government who are committed to defending the rights of the American people, putting America first, and ensuring the best use of working men and women’s tax dollars.”
This rhetoric fits into the wider Republican skepticism of government involvement in the financial industry and the desire to deregulate that industry broadly. It comes as no surprise then that CBDCs, which are already a subject of public privacy concerns, should be a target.
John Kiff, a digital currency expert and former senior financial sector expert at the International Monetary Fund, told Cointelegraph that users “want cash-like anonymity and privacy, but central banks are reluctant to offer that as they bend the knee to financial integrity laws and regulations” like Anti-Money Laundering and Countering the Financing of Terrorism laws.
Kiff said, “Purported benefits are related to such things as increasing financial inclusion and reducing the costs to users and merchants of transactions.”
Trump himself suggested that, with a CBDC, the government “could take your money, and you wouldn’t even know it was gone.”
@ Newshounds News™
Read more: CoinTelegraph
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LIVE: THE INAUGURATION OF DONALD J. TRUMP AS THE 47TH PRESIDENT OF THE UNITED STATES 1/20/25
If you missed the Inauguration Ceremony today, you can still watch it on the Rumble link here from Right Side Broadcasting Network.
@ Newshounds News™
Source: Rumble
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Seeds of Wisdom RV and Economic Updates Monday Morning 1-20-25
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INVESTOR CHRIS BURNISKE SEES CRYPTO ENTERING ‘GOLDILOCKS PERIOD’ AMID SUPPORT FROM INCOMING US ADMINISTRATION
Venture capitalist Chris Burniske believes crypto is about to enter uncharted territory as the United States welcomes a second Donald Trump presidency.
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INVESTOR CHRIS BURNISKE SEES CRYPTO ENTERING ‘GOLDILOCKS PERIOD’ AMID SUPPORT FROM INCOMING US ADMINISTRATION
Venture capitalist Chris Burniske believes crypto is about to enter uncharted territory as the United States welcomes a second Donald Trump presidency.
Burniske tells his 317,600 followers on the social media platform X that he thinks Bitcoin’s (BTC) four-year cycle may witness an abrupt end with the installment of a pro-crypto US government.
BTC’s four-year cycle is based on halving events when Bitcoin miner rewards are slashed in half every four years. In the past, halvings have correlated with parabolic rallies for Bitcoin as the reduction in new BTC emissions created an imbalance between supply and demand.
Says Burniske,
“Continue to believe there are high odds we break the simplistic four-year cycle that BTC has honored the last ~12 years…
With a supportive US administration, crypto could be entering a Goldilocks period over the next many years, where returns aren’t as parabolic, but instead we see steadier growth, not to mention majors stop suffering 85-95% drawdowns.”
In investing, a Goldilocks scenario is when an asset class sees moderate and sustainable growth over a long period of time.
Burniske also predicts market meltdowns that crypto investors have been accustomed to will likely be in the rearview mirror once digital assets enter Goldilocks territory. He believes that exchange-traded funds (ETFs) will support the steady rise of crypto assets while minimizing market drawdowns.
“On drawdowns: I’m not saying they’ll stop, I’m saying it’s possible they get less extreme for the majors, which could whiplash people who overtrade with too much aggression…
I also think BTC and ETH both having ETFs, and perhaps SOL+ soon, will provide more consistent buying pressure for these assets.”
While the investor believes in steady growth for large-cap coins, he notes that digital assets could still witness gut-wrenching corrections but they likely won’t be as severe as the ones seen in the past.
“If you ever want to see the percentage drawdown BTC could be exposed to, look at the 200-week SMA (simple moving average), which has been our most reliable technical support each bearish period. Right now at ~$40,000 that suggests a 60% drawdown is possible, which is a far cry from 80%+ (has to drop another 50% from 60% down, to hit 80% down). As BTC rises, so too will the 200-week SMA.”
Burniske concludes by saying that 2025 will likely be a “great year” for crypto investors.
@ Newshounds News™
Source: DailyHodl
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GOLD PRICES COULD HIT $3,000 IF TRUMP PUTS HIS THREATS TO WORK
Donald Trump took oath as the 47th President of the United States on Monday and will govern the nation for four years. Investors closely watch his statements, threats, and proposals on the U.S. economy and monetary policies. Gold prices hovered around the $2,707 mark when Trump took oath and surged nearly 5 points in the indices.
The precious metal remains on the greener side of the spectrum and is looking to gain another leg-up. Traders are hopeful that Trump’s upcoming trade wars could benefit gold prices, as institutions could park their funds to hedge the markets.
Trump’s Trade Tariffs Could Make Gold Reach $3,000
A leading commodity investor told Kitco News that gold prices could reach $3,000 if Trump sticks to his tariff threats. The markets could react strongly if the tariffs are imposed, as they could cause a trade imbalance between the U.S. and other countries.
Jesse Colombo, an independent precious metals analyst and founder of the BubbleBubble Report said that the short-term target for gold prices remains at $2,800. If Trump heats the import and export sector, gold’s price target remains a solid $3,000. He wrote that it could breach the mark during the second half of 2025.
“For the past two months, gold has been taking a breather, but now the market has a lot of pent-up energy. I’m excited about gold’s potential,” he said. The analyst explained that if Trump’s tariffs take place, consumers around the world will have to shell out more money for daily essentials.
“Gold’s significant resistance level remains $3,000 an ounce,“ he said, adding that a price rise ignited by Trump could lead to stagnation in the global markets. Therefore, investors need to closely watch Trump’s policies and invest widely based on the market trends. The XAU/USD could continue its rally in 2025 and remain in demand throughout the year.
@ Newshounds News™
Source: Watcher Guru
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WHAT IS DEFAI? A BEGINNER'S GUIDE
Defai is a convergence of artificial intelligence and decentralized finance, poised to simplify on-chain tasks and unlock new opportunities.
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this timely article, Blocmate’s Gaz explains this important emerging sector of AI x crypto. If you aren’t familiar with defai, or you don’t know exactly what it means, this article is for you.
Welcome to the Intersection of AI and Defi
AI agents are, at present, the only meta that seems to matter. They’ve been breathing fresh degeneracy into the crypto markets like nothing we have seen until this point in the cycle and stealing insane amounts of mindshare in the process.
Meanwhile, the fools who faded are forced to FUD away from the sidelines while the rest of us sift through the trenches to try and catch the next 100x mooner.
The open-sourced nature of this narrative means that things are moving at a pace that no single humanoid can possibly keep up with. This further proves the utility of these ever-awake, ever-watching robots — who are already outcompeting us mortals in every aspect of the crypto game.
It seems like very soon we simple homo sapiens will be forced into capitulation by our new AI overlords as we watch ourselves be replaced in pretty much every facet of life.
It is, however, not all bad news. At least not for us degens.
Within this agent meta will spring forth many sub-metas that we can attempt to gamble our way to freedom before the inevitable replacement occurs.
@ Newshounds News™
Read more: Bitcoin News
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