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RIPPLE CEO ON 60 MINUTES: GARLINGHOUSE OPENS UP ON $150 MILLION SEC FIGHT, CRYPTO WAR AND MORE

Ripple CEO Brad Garlinghouse appeared in an interview on 60 Minutes, airing on December 8, 2024, where he discussed the company’s ongoing legal fight with the U.S. Securities and Exchange Commission (SEC).

Garlinghouse criticized the SEC’s approach, stating that it was a key reason why Ripple and two other companies formed the industry super PAC, FairShake, to fight back against what he described as a “war on crypto.” He suggested that FairShake might not have existed if the SEC had a different chairman than Gary Gensler.

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BRICS NEWS:  THE US DOLLAR’S CLOUT IS DECREASING GLOBALLY, SAYS BRICS

BRICS member Russia has commented on the recent 100% tariff threats issued by President-elect Donald Trump for cutting ties with the US dollar. Russian President Vladimir Putin spoke about the threats by poking fun at the American economy and its dwindling power. The clout that the US carried a few decades ago is no longer in existence as developing countries have come far ahead in steering their economy to prosperity.

While their economy is becoming prosperous, BRICS is focusing on boosting their local currency and not the US dollar. The bloc is determined to use local currencies first and keep the US dollar in the backseat of the global economy.

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COINBASE REVEALS LETTERS WHICH EXPOSES FDIC’S ROLE IN OPERATION CHOKEPOINT 2.0

Coinbase reveals FDIC "pause letters", showing efforts to restrict crypto banking services. Documents support Operation Chokepoint 2.0 claims.

▪️Coinbase obtained FDIC "pause letters" revealing efforts to limit banking access for crypto firms in 2022 through FOIA requests.

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THE QUANTUM FINANCIAL SYSTEM'S NETWORK  —  ISO 20022  COMPLIANT COINS

▪️Ripple XRP

Institutional coins, network of smart contracts, removes 3rd party verification, reduces fraud and illegal activities.

The digital currency, XRP, acts as a bridge currency to other currencies. It does not discriminate between any fiat/cryptocurrency, which makes it easy for any currency to be exchanged for another.  It is scalable.  XRP Provides Global Liquidity, backed by gold, part of the ISO20022 ecosystem.

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FORMER NY FED PRESIDENT ARGUES BITCOIN COULD UNDERMINE USD, SUGGESTS PRIORITIZING REGULATORY FRAMEWORK

Bitcoin has recently surged past $100,000 following Donald Trump‘s election victory. Amidst broader market sentiments, the crypto community eagerly anticipates that Trump administration will prove to be pro-crypto and will stand behind his promise of a strategic BTC reserve for the United States.

Advocates believe it could serve as a hedge against inflation and a diversification tool in portfolios. However, Bill Dudley, former president of the Federal Reserve Bank of New York, has criticized Bitcoin’s role as money, describing its volatility and lack of income generation as its shortcomings.

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XRP LAWSUIT NEWS: ATKINS WON’T DISMISS THE RIPPLE CASE, SEC VS XRP TO CONTINUE

Gary Gensler's departure in January 2025 could leave the SEC’s stance on Ripple unchanged, with Jorge Tenreiro playing a key role in the ongoing case.

As the SEC’s appeal deadline for Ripple approaches in January 2025, the transition in leadership raises questions about the future of crypto regulations.

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WHO IS DAVID SACKS? AND WHY HAS DONALD TRUMP MADE HIM CRYPTO CZAR?

▪️David O. Sacks Becomes White House AI & Crypto Czar Under Trump's Administration.

▪️Former PayPal COO Brings Expertise in Tech and Venture Capital to Federal Leadership.

▪️Close Ties to Trump and Musk May Boost Fresh AI-Crypto Strategies for U.S. Leadership.

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BRICS NEWS:  BRICS: WHY TRUMP’S 100% TARIFF PLAY MAY FURTHER DE-DOLLARIZATION

With the president-elect targeting the BRICS bloc specifically, Donald Trump’s proposed 100% tariff plan may only further global de-dollarization efforts. The statement has been met with increased opposition from countries in the global south. Moreover, it represents another clear attempt at the West weaponizing the greenback.

If enacted, the tariff could be the catalyst for inciting continued efforts to abandon the US dollar on a global scale. Although BRICS nations have previously said that they would not seek to ditch the currency, Trump’s policies could drive a necessary recalculation of what would be best for these countries.

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CITI, JP MORGAN, OTHERS COMPLETE TOKENIZATION SETTLEMENT TRIALS

Ten institutions completed simulated trials of the Regulated Settlement Network (RSN), exploring the use of a shared DLT network to settle tokenized transactions. It was an extension of previous trials of the Regulated Liability Network conducted last year, which included tokenized commercial bank money and tokenized central bank money on the same network.

This time tokenized Treasuries and investment grade bonds were also on the shared ledger, enabling delivery versus payment for wholesale transactions. The trials also explored interoperability with external DLT networks.

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MISSOURI BILL WOULD BAN CBDCS, MAKE GOLD AND SILVER LEGAL TENDER

Missouri lawmakers have been trying hard to pass an anti-CBDC bill, and one of these days, they may succeed.

Attempts continue in the US state of Missouri to prohibit the potential use of central bank digital currencies (CBDCs). The state has seen several bills this year to stave off the digital currency, which does not currently exist in the United States.

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FED CHAIR POWELL VIEWS BITCOIN AS DIGITAL GOLD, NOT A DOLLAR COMPETITOR

Powell reiterated his remarks on Bitcoin being used solely for speculative purposes, not being a competitor for the US dollar.

The Federal Reserve Chairman Jerome Powell dismissed the notion of Bitcoin as a replacement for the U.S. dollar, instead framing the leading crypto as a speculative asset comparable to gold.