Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-7-25

Good Afternoon Dinar Recaps,

BRICS NEWS:  BRICS MAKES HUGE ANNOUNCEMENT ON COMMON CURRENCY

The BRICS alliance is working towards the formation of a common currency for trade settlements to sideline the US dollar. Russian Deputy Foreign Minister, Sergey Ryabkov confirmed that the currency is on the table and will be a reality soon. He explained that the bloc is working on payment-clearing mechanisms, which will also include insurance systems for goods and cargo.

He stressed that the BRICS common currency is real and will be unveiled to the world becoming an alternative option to the US dollar. “Not only it exists. It is not hypothetical,” Ryabkov said during a press conference when asked if the currency is a real idea.

BRICS Common Currency Will Include Safety Features

The Russian diplomat revealed that the BRICS common currency will include a variety of options to safeguard its users. 

The safety mechanisms include: clearing mechanisms, insurance systems, and insurance for the movement of goods and cargo, among other features. Things have moved forward and a real alternative to the US dollar has emerged through the BRICS common currency.

Ryabkov said that once the BRICS common currency is launched, other developing countries will begin settling cross-border transactions with it. “Moreover, the others would join as well. This plan is now on the table and that will be implemented is not a pattern for dollar substitution in all settlements.

It is a pattern for creating an additional circuit for work in conditions when the main and well-known to all dollar channel is failing for reasons beyond the control of BRICS.”

“I would like to add: that the financial pattern as such for all its importance is not enough for the system to function properly. We also need clearing mechanisms, we are also working on them – transaction insurance systems, including insurance for the movement of goods and cargoes, which would also not depend on harmful external influences,” the Deputy Foreign Minister noted on the BRICS common currency.

@ Newshounds News™

Source:  Watcher Guru

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RIPPLE WELCOMES 1.7 MILLION NEWLY MINTED RLUSD AHEAD OF BIG DEVELOPMENT

On-chain data shows that Ripple has minted big new RLUSD batch, while almost 7 million were transferred

Data shared by the Ripple Stablecoin Tracker account shows that blockchain behemoth Ripple has created another large chunk of its new product — Ripple USD stablecoin. 

This continuation of the RLUSD minting spree has taken place ahead of a major development that is expected to happen later this month.

In the meantime, the same data source has spotted that almost 7 million of these stablecoins have been transferred over the past 24 hours.

Ripple mints millions of RLUSD, 6.7 million moved Ripple Stablecoin Tracker revealed that roughly 16 hours ago, Ripple Treasury minted an impressive stablecoin chunk of 1,790,000 RLUSD.

This amount of RLUSD was created on the Ethereum chain. Previously, when the product was in a private beta, Ripple announced that it intended to use two chains for launching the stablecoin — XRP Ledger and Ethereum chain. 

On Jan. 3, as covered by U.Today, Ripple also minted a new batch of 600,000 RLUSD. After that minting took place, the aforesaid data source revealed that during the past 24 hours, approximately 6.7 million RLUSD were transferred in total.

According to the details provided by Etherscan, approximately 1.5 million were moved by major cryptocurrency exchange Bitstamp. A total of 500,000 RLUSD were transferred by Ripple. The rest of the 6.7 million RLUSD mentioned above were shoveled by anonymous whales to unidentified blockchain wallets. 

Later this month, Ripple giant is to release an attestation report, which will unveil the composition of the backing assets. So far, Ripple has issued a little less than $80 million RLUSD, having approximately $83 million in reserve to back this stablecoin. 

Ripple previously announced that its RLUSD would be audited by independent auditors and promised to release the first attestation report within 30 days of the stablecoin's public launch.

Ripple owns $100 billion in XRP and not going public In a recent interview, Ripple CEO Brad Garlinghouse revealed that the amount of XRP tokens owned by Ripple at the moment surpasses the $100 billion equivalent. He said that it was important when talking about the company valuation. The CEO believes that it is far higher than the $11 billion figure that was reported by Reuters at the start of 2024. Besides, Garlinghouse refuted speculation that Ripple intends to conduct an IPO, adding that this was never a priority.

@ Newshounds News™

Source:  U Today

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-7-25

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JUST-IN: US CFTC CHAIR ROSTIN BEHNAM TO DEPART ON JANUARY 20

US CFTC Chair (Commodity Futures Trading Commission) Rostin Behnam is reportedly stepping down from his role on January 20, the same date when Donald Trump will sworn in for the Presidential Chair.

▪️US CFTC Chair Rostin Behnam is reportedly stepping down from his role this month.

▪️He is scheduled to depart on January 20, the same date when US SEC Chair Gary Gensler will also step down.

▪️Although no specific reasons are confirmed, speculations soar over a potential change under Trump Administration.

Rostin Behnam, the Chair of the US CFTC, has announced to step down from his post effective January 20, 2025. Interestingly, that is when Donald Trump is scheduled to take over the US Presidential office once his inauguration concludes. While Rostin has not mentioned any specific reason behind stepping down from the post, speculations soar over a change in the horizon.

US CFTC Chair Rostin Behnam To Step Down On January 20

The US CFTC Chair Rostin Behnam is reportedly stepping down from his position on January 20. According to a Reuters report, Behnam is scheduled to exit on the same date as Trump’s inauguration. Interestingly, the US SEC Chair Gary Gensler has also announced his departure on the same date.

@ Newshounds News™

Source:  CoinGape

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KAMALA HARRIS CERTIFIES DONALD TRUMP AS NEXT U.S. PRESIDENT, AVOIDING 2021 CHAOS

▪️Kamala Harris officially certifies Trump as 2024 U.S. presidential election winner.

▪️Unlike 2021’s chaos, this years certification process was calm and without any major issues.

▪️Former VP Mike Pence praised Harris for leading a peaceful transfer of power.

In a historic announcement, Vice President Kamala Harris officially certified the results of the 2024 U.S. presidential election. Donald Trump, who supports crypto, is now set to become the next president, with J.D. Vance as vice president. This peaceful announcement was very different from the chaos of January 6, 2021, when the Capitol faced violence during the last certification.

Harris Announces Trump’s Victory

During the certification, Harris, in her role as president of the Senate, declared Trump as the winner with 312 Electoral College votes, surpassing the required 270. She secured 226 votes.

Harris ended her statement by highlighting the importance of the constitutional process that confirmed Trump’s presidency. She said, “This announcement is a sufficient declaration of the elected president and vice president of the United States, starting their term on January 20, 2025.”

Despite losing the election to Trump, Harris maintained a composed look, fulfilling her constitutional duty in front of an energized Republican audience. Meanwhile, her announcement was met with cheers and applause from Republicans.

Previous Certifies Election, Erupted In Chaos

The last time when the U.S. Congress met to certify a presidential election, things turned violent. On January 6, 2021, a group of rioters, fueled by false claims that the 2020 election was stolen from Trump, stormed the Capitol.

They broke windows, fought with police, entered the House chamber, and damaged offices, including then-Speaker Nancy Pelosi’s.

Since that day, over 1,500 individuals have been charged for their roles in the attack. Interestingly, Trump has pledged to pardon many of them once he takes office for his second term as president.

Peaceful Transfer of Power

Unlike the 2021 certification process, which was marred by violence and delays, this year’s proceedings were orderly. Former Vice President Mike Pence, who presided over the 2021 session under immense pressure, praised the peaceful transition.

In a recent tweet post, Pence congratulated Trump and Vance, calling the peaceful transfer of power “a hallmark of our democracy.”

He also commended Harris for her role, stating, “It’s particularly admirable that Vice President Harris presided over the certification of an election she lost.”

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Monday Evening 1-6-25

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FDIC PUBLISHES CRYPTO ‘PAUSE’ LETTERS INCLUDING USDF CONSORTIUM

In response to freedom of information requests by Coinbase, the Federal Deposit Insurance Corporation (FDIC) published minimally redacted letters sent to banks requesting information about their crypto activities and in most cases asking them to pause activities pending feedback. 

Last year, the FDIC’s Office of Inspector General objected that the FDIC had in most cases failed to provide feedback, leaving activities in limbo and impacting innovation.

On behalf of Coinbase, History Associates Inc asserted that the letters demonstrate the FDIC was part of “Operation Choke Point 2.0—a multi-agency effort to de-bank the digital-asset industry.” 

With one important exception, these particular letters don’t appear to support the de-banking claim. They reinforce the position of blocking banks from engaging with crypto and public blockchains.

Amongst the 25 letters disclosed, most of the banks wanted to offer their customers the ability to buy Bitcoin via their mobile banking apps. Often times, this was an indirect service to be provided by a third party.

The FDIC objects to public blockchain for USDF payments

By far the longest letter related to a planned blockchain-based fiat payment system to be operated by a consortium of banks. Despite five pages of tightly typed questions, which undoubtedly were answered, that consortium has so far only participated in Regulated Settlement Network simulations.

While the redactions removed the identities of the bank, we can confirm that the letter relates to the USDF Consortium, which originally planned to launch a payment system using a private protocol on the Provenance public blockchain.

On first reading, we suspected the letter related to USDF, because around this time the consortium shifted to a permissioned blockchain approach in a vain attempt to get approval. The use of the term ‘digital markers’ was the final confirmation, given this terminology is specific to USDF.

The letter indicates that the FDIC was interested in the roles of the non bank participants and their involvement in validating transactions. It also had questions about the use of the Hash cryptocurrency and whether banks would need to hold it, although the name ‘Hash’ was redacted.

Given this was before the launch of Fed Now, the FDIC asked the valid question about out of hours liability risks between banks for payments.

SAB 121 – custody    One of the most contentious crypto issues has been the SEC’s SAB 121 accounting rule, which prevented banks from providing cryptocurrency custody, although that certainly worked in Coinbase’s favor.

The crypto exchange has dominated custody for ETFs. While it has been claimed SAB 121 was formulated by the SEC without consulting other regulators, in many of the letters the FDIC asks for the bank’s analysis of SAB 121 and it’s applicability. This is a not-so-subtle way of saying, ‘you cannot provide custody’.

Other takeaways

Not all letters were equal. Apart from the USDF letter, there were three that stood out. One bank was being quite pushy, saying that it planned to launch crypto services on a specific date.

It had clearly provided extensive information to the FDIC already. The FDIC’s list of questions was far longer than for other banks, querying every claim the bank made, asking for evidence.

Moving on, when assessing risk, there’s the accounting concept of materiality. In other words, don’t focus on the small, irrelevant stuff. One bank spent $25,000 on an NFT. There were numerous detailed questions about this particular purchase.

Letter number 25 relates to a bank that wanted to provide deposit account services to a stablecoin but was told to wait for feedback. It is the only letter in the group that appears to block banking services. The New York-based bank first wrote to the FDIC a few days after Circle’s USDC stablecoin lost its peg in March 2023, following the collapse of Silicon Valley Bank.

@ Newshounds News™

Source:  Ledger Insights

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JUSTIN TRUDEAU RESIGNS, PRO-CRYPTO SUCCESSOR EXPECTED

Canada’s Prime Minister steps aside, crypto rejoices.

Canada’s Prime Minister, Justin Trudeau, who has been historically anti-crypto, resigned today, citing "internal battles" in Canada's governing party.

What’s the Scoop?

▪️Political Fallout: Trudeau’s approval rating is at 22%, and polls suggest his Liberal Party would suffer a major defeat in a snap election, winning just 46 seats to the Conservative Party’s projected 225.

▪️Pro-Crypto Successor: Pierre Poilievre, expected to succeed Trudeau, is a vocal supporter of DeFi and crypto, championing Bitcoin as a hedge against inflation.

Bankless Take

Trudeau’s resignation not only marks the end of his divisive tenure but signals a potential shift in Canada’s crypto policy landscape. While his administration adopted a cautious, and occasionally aggressive stance toward cryptocurrencies, Pierre Poilievre’s pro-crypto outlook could bring a stark contrast.

 If Poilevre does becomes his successor, Trudeau’s exit would further amplify the broader global trend of favor shifting towards forward-looking, pro-tech politicians, potentially positioning Canada for greater adoption and innovation under new leadership.

@ Newshounds News™

Source:  Bankless

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FIVE CRYPTO COMPANIES GAIN MICA LICENSES ACROSS NETHERLANDS AND MALTA

▪️MoonPay, BitStaete, ZBD, and Hidden Road received MiCA licenses from the Dutch Authority, enabling EU-wide crypto operations.

▪️The Malta Financial Services Authority (MFSA) has also licensed blockchain-based sports and entertainment platform Socios.com

▪️Tether's USDT market cap dropped $2 billion under MiCA, raising concerns though analysts claims USDT will be unfazed by EU setbacks.

@ Newshounds News™

Read more:  Be In Crypto

  ~~~~~~~~~

STABLECOIN SKEPTIC MICHAEL BARR STEPS DOWN AS FEDERAL RESERVE'S VICE CHAIR FOR SUPERVISION AHEAD OF TRUMP INAUGURATION

The Federal Reserve Board has announced that Michael S. Barr is resigning from his position as Vice Chair for Supervision.

In a statement, Barr said he didn’t want a potential dispute over the position in the near future to distract from the Fed’s “mission.”

“The position of vice chair for supervision was created after the Global Financial Crisis to create greater responsibility, transparency, and accountability for the Federal Reserve’s supervision and regulation of the financial system.

The risk of a dispute over the position could be a distraction from our mission. In the current environment, I’ve determined that I would be more effective in serving the American people from my role as governor.”

Barr’s resignation comes less than two weeks before pro-crypto President-elect Donald Trump’s inauguration.

In 2023 during a speech at the Peterson Institute for International Economics, Washington, D.C., Barr warned about the “special risks associated with stablecoins,” advocating for stiffer regulations on the asset class.

Said Barr,

“Stablecoin issuers seek to have—but don’t—some of the same characteristics as federally insured bank deposits. Stablecoin issuers represent that their liabilities can be redeemed on demand at par, a dollar for a dollar. In fact, however, the assets backing the liability can fluctuate in value… The banks we regulate, in contrast, are well protected from bank runs through a robust array of supervisory requirements.

Consider the consequences if a stablecoin not subject to appropriate supervision and regulation were to be adopted as a widespread means of payment, which some stablecoin developers state as a goal. Stablecoins have the potential to scale quickly because of network effects.

An unregulated, unsupervised, deposit-like asset could create tremendous disruptions, not just for financial institutions but for people who might rely on the coin if it were to get wide adoption.

We must learn from the past to ensure that we do not allow for new forms of unregulated private money subject to classic forms of run risk, and with the associated spillovers and systemic implications for households, businesses, and the broader economy.”

@ Newshounds News™

Source:  Daily Hodyl

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GEMINI AGREES TO PAY $5M CFTC FINE BEFORE DONALD TRUMP’S INAUGURATION

Gemini Trust Company reaches $5 million settlement with CFTC over Bitcoin futures case, choosing to resolve litigation before the upcoming Trump administration.

▪️The closure of the Gemini case is a huge welcome to the growth during the Trump administration.

▪️The Winklevoss brothers have been consistent in the web3 space for more than 10 years, thus growing a too-tier crypto exchange.

Gemini Trust Company, a New York-based cryptocurrency exchange founded in 2014 by the Winklevoss brothers, has agreed to pay a penalty of $5 million to the United States Commodity Futures Trading Commission (CFTC) to end a long-standing litigation.

The Winklevoss brothers agreed to pay the fine in a joint court hearing on Monday to avoid a trial set to coincide with the inauguration of pro-crypto US President-elect Donald Trump.

Gemini settled the case with the US CFTC without admitting or denying any liability in the case.

In June 2022, the US CFTC filed a complaint in the US District Court for the Southern District of New York against Gemini for issuing misleading statements of material facts regarding the Bitcoin futures product.

According to the US CFTC, Gemini failed to show how it would prevent Bitcoin price manipulation to ensure fair competition for all customers in its BTC Futures Product. However, the Gemini cryptocurrency exchange has opted to end the case ahead of the expected trial on January 21, which would have kickstarted after the much-anticipated inauguration of President-elect Donald Trump.

Furthermore, Gemini cryptocurrency exchange, among other web3 companies, is banking on the upcoming Trump administration to set clearer and better crypto regulations.

Possibly, most of the crypto companies are betting on the new leaders of the US SEC chair and CFTC to drop crypto-related cases, which were orchestrated by the Biden administration.

@ Newshounds News™

Read more:  CoinSpeaker

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Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-6-25

Good Afternoon Dinar Recaps,

BRICS BRAZIL:  BRAZIL TAKES OVER THE BRICS PRESIDENCY IN 2025

Country takes the helm of the Global South political and economic cooperation forum,

Starting  January 1, 2025, Brazil officially takes the helm of BRICS, the prominent forum for political and economic cooperation among nations of the Global South.

The presidency marks a pivotal moment for the country as it seeks to advance a vision of more sustainable and inclusive global governance, foster deeper economic ties, and mobilize financing to combat climate change.

BRICS, an acronym representing Brazil, Russia, India, China, and South Africa, has recently expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. This enlargement solidifies the group as a central platform for collaboration among developing nations,

Brazil has outlined an ambitious agenda under the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” Its presidency will prioritize two main areas: advancing Global South cooperation and reforming global governance structures.

These themes translate into five key priorities:

1. Facilitating Trade and Investment: Promoting economic integration through the development of efficient payment systems.

2. Regulating Artificial Intelligence: Encouraging inclusive and responsible AI governance for development purposes.

3. Addressing Climate Change: Enhancing financing mechanisms to support global efforts, in coordination with the COP30 climate summit.

4. Public Health Collaboration: Strengthening cooperation projects among member countries, focusing on improving public health systems.

5. Institutional Development: Bolstering the internal frameworks of BRICS to ensure effective governance and decision-making.

“If you want to build a better world, a sustainable world, BRICS has to be part of this construction. And it’s important to have an understanding among these countries, because this understanding helps achieve broader agreements [with other nations],” stated Ambassador Eduardo Saboia, Brazil’s BRICS sherpa, in an interview with Agência Brasil.

GLOBAL SOUTH COLLABORATION - The forum’s objectives extend beyond its immediate membership, aiming to enhance economic, political, and social cooperation while increasing the influence of Global South nations in international governance. 

Ambassador Saboia highlighted the importance of mutual understanding among BRICS members, noting that the group’s diversity is a strength. “These countries, with their distinct political systems and unique challenges, come together annually, fostering solutions that benefit their populations,” he emphasized.

EXTENSIVE AGENDA - As the host nation, Brazil will oversee the organization and coordination of more than 100 meetings, starting in February and continuing through July in the capital, Brasília.

These gatherings will bring together officials, policymakers, and experts to deliberate on the presidency’s priorities. 

The discussions will culminate in the BRICS Summit, scheduled tentatively for July in Rio de Janeiro, where heads of state and government will chart the bloc’s future course. Brazil’s mandate will run until December 31, 2025.

ROTATIONAL LEADERSHIP - The BRICS presidency rotates among member states in the order of the acronym, but with the inclusion of new members, the bloc is expected to revisit its rotational formula. The changes reflect BRICS’ evolving dynamics as it continues to adapt to the shifting geopolitical landscape.

@ Newshounds News™

Source:  Brazil Gov

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BRICS NEWS: INDONESIA OFFICIALLY JOINS AS FULL MEMBER

In a move that showcases a further expansion of the economic alliance, the BRICS bloc has welcomed Indonesia as a full member. Indeed, Brazil announced that the country would be joining the collective, according to a Reuters report.

Moreover, the move takes place as the South American nations commences its opportunity to take over the groups rotating presidency for 2025.

Brazil has stated that Indonesia has been accepted after its application bid was accepted during the group’s 2023 annual summit. The Asian nation has requested its acceptance be halted amid presidential elections last year, where Prabowo Subianto was officially elected. Now, Indonesia has become the 10th member of the growing economic group.

Indonesia Officially Joins BRICS as Full Member Ahead of Crucial 2025

Over the last two years, the BRICS economic alliance has emerged as a key global economic and geopolitical presence. The group was formed through the promising potential of Brazil, Russia, India, China, and South Africa more than two decades ago. Yet, it was not until recently that it embraced its status and sought to increase its position on the world’s stage.

Another key part of that pursuit has taken place today. Indeed, the BRICS bloc has reportedly welcomed Indonesia as a full member of the growing economic alliance. The country is set to join the group after being approved for entry in 2023. Moreover, it has long sought to be included in the growth prospects being derived by the global south.

“Indonesia shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening cooperation of the global south,” 2025 BRICS President Brazil said in a statement.

The country is joining the bloc on the precipice of an immensely important year. US President-elect Donald Trump has not been shy of its issue with the group. Earlier this year, he warned of the imposition of 100% tariffs on nations seeking to ditch the US dollar.

He specifically targeted BRICS, noting the development of their own alternative currency. Whether or not those plans will continue remains to be seen. The bloc appears to be facing increased dissension from the United States’ shift this year.

@ Newshounds News™

Source:  Watcher Guru

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RIPPLE ADVOCATE DEATON STRESSES IMPORTANCE OF REGULATORY CLARITY FOR RIPPLE IN US

The CryptoLaw founder and major Ripple advocate John Deaton has shared his reflections on the Ripple CEO’s recent statement about Ripple rapidly expanding in the U.S. since early November, offering a universal solution for Ripple and other crypto companies’ growth in the U.S.

American crypto business suffers from lack of regulatory clarity: Deaton

In his tweet, John Deaton quoted Ripple chief executive Brad Garlinghouse, who said that since a pro-crypto president-elect won in early November, over the last six weeks of 2024, Ripple has signed more deals in the U.S. than during the previous half-year.

Deaton underscored that it is “impossible to estimate damage” suffered by Ripple and other cryptocurrency businesses headquartered in the U.S. due to the lack of regulatory clarity for the crypto industry. 

The Ripple advocate admitted that he has encountered many crypto businesses whose teams would say that they prefer to avoid the U.S. market and not to offer anything to U.S.-based investors.

Simple solution to many of these problems, per Deaton

The CryptoLaw founder reminded the community about the “gross government overreach and selective enforcement” that Ripple had to struggle with in court for approximately four years, defending itself against the SEC and its chairman, Gary Gensler, who is to step down from his position at the end of January.

Ripple scored two big victories, in July 2023 and then in late 2024, as it proved that XRP was not a security (on the secondary markets) and reduced the $2 billion fine demanded by the SEC down to $125 million. Deaton stressed that, aside from the issue of regulatory clarity, the cryptocurrency space also suffers from excessive regulations that “continue to stifle innovation” within the country.

The only solution to many of the issues mentioned by Deaton is the elimination of bureaucracy — of the red tape that rules in the U.S. He offered the situation with the housing shortage crisis in the country as an example, and the necessity to wait for “two years to pull necessary permits.”

Ripple advocate Deaton hopes that the new president's administration will make that happen and solve the problem at least partly — and not only for the crypto industry, causing a “ripple effect. Hopefully, we will see a Ripple effect (pun intended) throughout industries, caused by the excitement of a new administration.”

@ Newshounds News™

Source:  U Today 

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Seeds of Wisdom RV and Economic Updates Monday Morning 1-6-25

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RIPPLE SEC CASE: EX-SEC LAWYER AFFIRMS SETTLEMENT IN XRP LAWSUIT

Ripple SEC Case: Ex-SEC lawyer Marc Fagel claims settlement is likely in XRP lawsuit as Trump admin and Paul Atkins may decide not to pursue the appeal.

▪️Former SEC enforcement lawyer Marc Fagel says Ripple SEC case will see a settlement.

▪️He explained that settlement is require due to penalty on hold pending appeal.

▪️Lawyer Jeremy Hogan has predicted an April or May timeline for XRP lawsuit end.

▪️Ripple and XRP will get required boost under the Trump admin and incoming SEC Chair Paul Atkins.

The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches. 

A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.

Ex-SEC Lawyer Says Settlement in Ripple SEC Case Most Likely

Marc Fagel, a former SEC enforcement attorney, on January 6 posts explained to the crypto community that the government agency didn’t lose, but won in part and lost in part. This requires a settlement between parties as both Ripple and SEC appealed the part they lost.

“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million in penalty for $700 million in unregistered securities sales to institutional investors.

Marc Fagel asserts the odds of new SEC administration deciding not to pursue the appeal is higher, which will make parties settle Ripple SEC case on what the court ruled. However, he affirmed that the SEC under Gary Gensler will file appeal by January 15.

Pro-XRP Lawyer Expect May End Timeline for XRP Lawsuit

As reported first by CoinGape Media, lawyer Jeremy Hogan has predicted an April or May timeline for the end of the Ripple SEC case. He added that the decision may not come before that as it takes a lot of time to get reports, memos, requisite SEC meetings and others.

Today, he again commented that Paul Atkins will definitely drop the appeal and settle with Ripple to end XRP lawsuit in 2025.

What’s Next Under Paul Atkins?

Experts and the crypto community believe the end of Ripple SEC case will boost the odds for XRP ETF approval. This may also trigger a rally in XRP price.

CEO Brad Garlinghouse in a post on Sunday criticized the SEC under Gary Gensler saying the actions “froze our business opportunities here at home for years.” He highlights that 75% of Ripple’s open job roles are now US-based and the company has signed new deals in the U.S. in the last six weeks.

“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again.”

Meanwhile, analysts expect XRP price to see another rally to double-digit figures, similar to a 400% rally after Trump’s re-election.

In short-term, XRP price to consolidate at the current range for weeks and then rally towards a new all-time high, as per analyst CrediBULL Crypto. “Currently trading at around where I closed my last long. We’ve taken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.

@ Newshounds News™

Source:  CoinGape

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PRO-CRYPTO LAWYER JOHN DEATON OFFERS TO PROBE OPERATION CHOKEPOINT 2.0

Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.

Former United States prosecutor and crypto advocate John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 — an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.

“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming United States President Donald Trump, Vice President JD Vance and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.

“This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said in the X post, which was also addressed to Secretary of Commerce Howard Lutnik and David Sacks, who will lead Trump’s AI and crypto “czar.”

Deaton, well-known for his efforts in Ripple’s legal battle with the Securities and Exchange Commission, said he would even “accept the task without salary.”

“The American people deserve the truth a hell of a lot more than I or anyone else needs another taxpayer funded paycheck.”

His offer followed a court order allowing crypto exchange Coinbase to obtain unredacted files from the Federal Deposit Insurance Corporation to investigate their role in the unconfirmed Operation Chokepoint. 2.0 regime.

“They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings,” Coinbase’s chief legal officer Paul Grewal explained after reviewing the filings.

The alleged “architect” of Operation Chokepoint 2.0, Martin Gruenberg, resigned as the FDIC Chair in November.

The regime refers to a rumored and unconfirmed US government initiative to pressure banks into refusing or limiting services to crypto firms, which possibly caused crypto exchanges like Binance to be without a local banking partner after Silvergate and Signature Bank both collapsed in March 2023.

Deaton’s new endeavor comes after he lost a Massachusetts Senate seat to Democrat Senator Elizabeth Warren in the US election on Nov. 5.

The landslide victory in Warren’s favor came before two heated senate debates where Deaton called out Warren for building an “anti-crypto army” instead of prioritizing issues impacting the lower and middle class in the state.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-5-25

Good Afternoon Dinar Recaps,

RIPPLE GOES ON HIRING SPREE IN U.S.

Ripple CEO Brad Garlinghouse has revealed that 75% of the company's open job offers are in the U.S.  This is a stunning reversal compared to the previous years, during which the enterprise blockchain company conducted the majority of hiring abroad.  

As of now, Ripple has 31 job openings in San Francisco and New York, with most of them being within the engineering sector.

Garlinghouse claims that SEC Chair Gary Gensler "froze" its business opportunities at home for years.  On the cusp of the SEC lawsuit that was filed in December 2020, Ripple considered its global headquarters outside the U.S.

Ripple's Garlinghouse also claimed that 95% of the company's customers were not from the U.S. during an interview with CNN's Julia Chatterley.  However, it ultimately decided to stay in its home country despite regulatory hostility and legal issues.  In 2022, Garlinghouse said that the company was operating as if it had already lost by hiring more people outside of the U.S.  

Ripple executives have repeatedly criticized the SEC for harming the cryptocurrency industry.  In 2023, the Ripple boss revealed that the company was still doing a whopping 80% of its hiring outside the U.S.  However, now that Gensler has confirmed his departure, the company has started a hiring spree on its home turf.

@ Newshounds News™

Source:  U Today

~~~~~~~~~

BRICS NEWS:  BRICS: INDIA LIKELY DUMPING THE U.S. DOLLAR

BRICS member India is likely dumping the U.S. dollar in the forex markets to safeguard the rupee from falling, reported Reuters.

The Indian rupee reached an all-time low of 85.96 on January 1, 2025, as the U.S. dollar strengthened. The development ruffled a lot of feathers in the Indian markets as the imports and exports sector took a hit. The Reserve Bank of India (RBI) directed state-run banks to dump millions worth of U.S. dollars to protect the rupee.

On the direction of the RBI, state-run banks offloaded their U.S. dollar reserves to limit the damage to the rupee. The RBI is likely keeping a close tab on the development and is interfering in the currency markets.

This is not the first time that BRICS member India has sold the USD to save the rupee, it has been accused several times of dumping the U.S. dollar.

The RBI is “likely keeping a check on any sharp declines,” said a currency trader on the condition of anonymity. The state-run banks were spotted offloading the U.S. dollar on behalf of the RBI. BRICS country India fears that a declining rupee will lead to inflation in the country that stems out of the imports and exports sector. 

Therefore, the rise of the U.S. dollar is worrisome as it could wreak havoc on the Indian economy.

BRICS: U.S. Dollar vs Indian Rupee

The Indian rupee is hanging on a thread against the U.S. dollar and the BRICS member now remains under pressure. Trump’s re-election ignited a rally for the USD making it touch a high of 109.08 in the DXY index.

“The U.S. dollar in the New Year is basically carrying from where it left in 2024. It looks like this dollar rally will not relent till at least the Trump inauguration,” said a currency trader at a bank to Business Insider. “I am a bit surprised that we did not see a bigger pop (on dollar/rupee)” considering the dollar’s up move, he said.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

WHY PROPERTY TAX IS ILLEGAL

“I sincerely believe that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale” - Thomas Jefferson, 1816

“They who can give up essential Liberty to obtain a little temporary Safety, deserve neither Liberty nor Safety” - Benjamin Franklin

@ Newshounds News™

Read the Story Here:  ZeroHedge

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Seeds of Wisdom RV and Economic Updates Sunday Morning 1-5-25

Good Morning Dinar Recaps,

FDIC WANTED TO SEND SHOCKWAVES THROUGH BANKS, ACCORDING TO RIPPLE'S TOP LAWYER

Coinbase's top has called on Congress to investigate 'Operation Choke Point 2.0'

Stuart Alderoty, chief legal officer at Ripple, has opined that the Federal Deposit Insurance Corporation (FDIC) tried to send "shockwaves" throughout various banks with its intimidating letters.

"As a former bank GC, these letters scream one message: shut down everything crypto-related ASAP—not just the products and services mentioned," he said on social media. This comes after cryptocurrency trading giant Coinbase managed to secure a court order in order to get plenty of unredacted letters that were sent to dozens of banks by the FDIC.

According to Paul Grewal, chief legal officer at Coinbase, there was a "coordinated effort" to put a stop to a wide array of crypto activities, including mundane Bitcoin transactions.

The recently published letters are supposed to support the crypto industry's long-standing claims about the so-called "Operation Choke Point 2.0." 

The original "Operation Chokepoint," which was uncovered by The Wall Street Journal back in 2013, was conducted by the FDIC by issuing informal suggestions to banks in order to clamp down on various high-risk activities that ranged from firework sales to payday loans. The initiative attracted widespread criticism due to violating due process to specifically target disfavored industries. 

Cryptocurrency advocates have alleged that a similar playbook is being used against their industry. Earlier, Alderoty spoke in great detail about the supposed "origin story" of this anti-crypto initiative, arguing that crypto became the new target in 2021 when the Office of the Comptroller of the Currency (OCC) started demanding pre-approval for banks' crypto activities. 

The FDIC then followed suit in 2022. Grewal has called on Congress to investigate this alleged crackdown. "The new Congress should launch hearings on all this without delay," he said.

@ Newshounds News™

Source:  U Today

~~~~~~~~~

IOTA READY FOR MAINNET RE-LAUNCH: BRIDGING DEFI AND INSTITUTIONAL NEEDS WITH MoveVM + EVM

▪️IOTA is ready to launch an enhanced mainnet protocol with EVM and MoveVM integrations.

▪️The IOTA Rebased protocol will boost the adoption and functionalities of RWAs and tokenizations.

With the IOTA Rebased protocol, the network is reportedly set for its mainnet re-launch in early 2025. On social media platform X, Michael Atlan highlighted that the mainnet re-launch positions IOTA for real-world adoption.

New IOTA Mainnet To Bridge DeFi and Institutional Needs

Altan explained that IOTA is bridging the needs of Decentralized Finance (DeFi) and institutions through MoveVM and EVM integration. As CNF reported, the IOTA Foundation recently introduced the Rebased protocol set to improve the network’s scalability, programmability, and decentralization.

The Rebased protocol establishes a completely decentralized Layer 1 (L1) network with the addition of advanced features. 

These new features include Ethereum Virtual Machine (EVM) and Move Virtual Machine (MoveVM) support. MoveVM introduces strong data abstraction capabilities, simplifying complex resource management tasks.

Additionally, the direct integration of EVM into the L1 layer aims to enhance the security and decentralization of dApps built on IOTA’s EVM Layer 2 network. The transfer of EVM operations to the L1 layer will also boost network activity, increasing burned tokens.

The IOTA Rebased proposal also seeks to deliver higher throughput, anticipated above 50,000 TPS on the network. IOTA has already released a public testnet to test these proposed changes in the real world.

CNF mentioned that the community had approved the initiative through a governance vote, with 98% of the voters supporting the motion. As a result, the mainnet release is set to go live in early 2025, per a CNF report.

Atlan added that IOTA’s establishment of regulated finance solutions and a $50 million growth fund signals its readiness for the mainnet re-launch. He also pointed out that the network has genuine collaborations and no VC baggage.

Furthermore, most tokens have already been circulated, highlighting the huge liquidity of IOTA.

IOTA’s Key Focus and Growing Adoption

Following its expanded use cases and widespread market, IOTA now focuses on distributed ledger technology. CNF recently disclosed that IOTA has progressed in tokenization, digital trade finance, regulatory compliance, and decentralized infrastructure.

The platform has formed strategic partnerships in tokenization projects, recently collaborating with the UAE. Such endeavors will open the door for innovative applications of asset tokenization within a regulatory framework.

The IOTA token is gaining ground in the crypto market through these initiatives and collaborations. The IOTA coin joined the latest market rally, posting an 18.53% increase in value to trade at $0.335.

IOTA price was trading at $0.3595 at press time, up 1.3% in the last 24 hours. The market capitalization rose to $1.2 billion, suggesting investor optimism. Crypto analyst Lokman Duman noted that upward momentum could push IOTA toward $0.3600 and $0.4000 in the near future.

@ Newshounds News™

Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Saturday Morning 1-4-25

Good Morning Dinar Recaps,

RIPPLE PRODUCES 600,000 RLUSD TOKENS WHILE STRATEGICALLY LIMITING CIRCULATING SUPPLY

▪️Ripple strategically increases RLUSD supply while keeping the token’s market cap steady.

▪️RLUSD is 7% over-collateralized, backed by $83 million reserves for enhanced stability.

▪️Ripple limits RLUSD circulation to maintain price stability amid competitive stablecoin markets.

Ripple, the blockchain-based digital payment company, has made headlines with the creation of 600,000 new RLUSD tokens. Despite this production, the cautious move by Ripple has left many wondering if Ripple is carefully managing the coin’s value and making sure it stays strong in the competitive crypto market.

Ripple Produces 600,000 RLUSD Token

Ripple’s RLUSD stablecoin currently holds a market cap of 53.1 million tokens, even after the recent creation of an additional 600,000 tokens. This indicates that despite producing more tokens, Ripple is maintaining a steady supply.

The company has secured approximately $83 million in reserves, which are backing over $77.2 million worth of RLUSD tokens. This means the stablecoin is 7% over-collateralized, reflecting Ripple’s effort to provide stability and reliability to the token

Furthermore, Ripple has promised to release its first attestation report within 30 days of RLUSD’s public launch. This report will detail the composition of the assets backing the stablecoin, adding transparency to Ripple’s operations and reinforcing its credibility.

Ripple’s Master Plan

Despite the recent creation of more tokens, analyst Arthur believes the company is controlling the supply of RLUSD to keep its value stable. If too many tokens are released too fast, could drop their price, which Ripple wants to prevent.

By limiting the supply now, Ripple may be positioning itself for future conditions that could drive higher demand and adoption of RLUSD.

As Ripple faces robust competition from major players like Circle and Tether, its careful supply management and growing presence in the market could make RLUSD a strong contender in the stablecoin space.

RLUSD’s Role in the XRP Ecosystem

In addition, Ripple President Monica Long believes RLUSD could set a new standard for stablecoins, citing its strong regulatory compliance as a key advantage. By adding RLUSD to the XRP ecosystem, Ripple hopes to increase XRP’s usefulness and improve liquidity for large institutional trades.

This move could make the network even more attractive, especially after Ripple’s partial legal victories, which clarified XRP’s classification in certain situations.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

BRICS NEWS:  BRICS NATION ANNOUNCES INTENT TO EMBRACE TRUMP, US AMID TARIFF

In what is a rather surprising turn of events, one BRICS nation has announced its intent to embrace US President-elect Donald Trump and his incoming administration amid the ongoing 100% tariff threat. Indeed, the returning president has been clear on his stance regarding the alliance’s de-dollarization efforts.

In a post to his social media platform late last year, Trump stated he would impose tariffs on BRICS nations. The warning targeted those global south countries attempting to create their own trade currency. For much of his presidential campaign, Trump has noted the importance of maintaining the global status of the greenback.

BRICS Country Turns to Trump? 100% Tariff Warning Drives Plea for Cooperation

The last two years have seen the BRICS bloc increase its prominence on a global scale. Indeed, the economic alliance has sought to challenge the status quo and brought forth renewed de-dollarization efforts. Those pursuits appear to be going off without a hitch until the tail end of 2024.

With the impending arrival of a new president, things are shifting in the United States. Moreover, as a stark warning has been issued, one BRICS nation has announced its intent to embrace Trump and the US as tariffs loom. Moreover, it could lead to a groundbreaking shift for the economic collective.

Indeed, India has reportedly called to strengthen cooperation with the United States, according to officials. Specifically, they have stated clearly their desire to strengthen an economic relationship with the West.

“We are looking forward to a very deep and substantive engagement with the new US administration,” India’s Trade Minister said, according to a Reuters report. To this point, India has embraced bilateral relations with the United States for the Obama, Biden, and first Trump administrations.

Although it is no surprise that it is set to continue, things do appear different in 2025. The BRICS bloc has drawn its line in the sand and made its feelings about the US dollar known. Moreover, America has responded in kind. Ultimately, it will provide an incredibly intriguing geopolitical development to take place over the next year.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

IS THIS THE MOST IMPORTANT CONSTITUTION CALL OF 2025?  |  Youtube 

Will much of DC be gutted and authority returned to the States?   Will the American Congress be rebuilt and reseated in Philadelphia Hall?  Is it true the Municipal Contractor is withdrawing from America?  What does all this mean?  Can we possibly UNLEARN the wrongs that we accepted and relearn the correct freedoms we lost?  Does the banking system have authority over us?  Are mortgage promissory notes legal?  Can our government own land?  You can listen to the call on the Seeds of Wisdom Team Youtube Channel at the link above.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Friday Evening 1-3-25

Good Evening Dinar Recaps,

BEARS, BULLS AND REGULATIONS SHAPE CRYPTO’S 2025 ASPIRATIONS

The global cryptocurrency market is capitalized at over $3 trillion. Much of that value is concentrated at the top, among a few key digital tokens.

Bitcoin, as the first and most widely recognized cryptocurrency, plays a central role in the sector’s valuation, commanding a substantial share. At its highest, bitcoin’s market capitalization has approached $2 trillion, representing roughly two-thirds of the landscape’s overall market value.

Bitcoin topped $100,000 as 2024 came to a close, but has skidded down double digits from its peak of over $108,000 around two weeks ago.

This concentration of value at the top has implications for the overall market’s volatility, innovation and the evolution of altcoins, with bitcoin often setting the tone for broader market trends. It also raises questions about the future of crypto market dynamics as new technologies and use cases continue to emerge.

With the news that the Tether stablecoin’s (USDT) market cap fell more than 1% to $137.24 billion this week, the largest decline since the crash of the FTX exchange in November 2022, understanding the impact of regulations on the marketplace is becoming crucial for businesses looking to capture efficiencies and advantages from the use of tokens such as stablecoins.

After all, USDT is supposed to maintain a stable, flat value of $1. As of reporting, the stablecoin is a smidge below that value, sitting at $0.9993. The decline comes after several European Union-based crypto exchanges removed USDT due to compliance issues with the EU’s Markets in Crypto-Assets (MiCA) regulation that took full effect on Dec. 30 (the actual law around stablecoins kicked in six months ago).

Per the MiCA regulations, stablecoin issuers must hold an e-money license in at least one EU member state in order to operate across the 27-nation bloc. Tether, which has faced controversy throughout its history, has yet to apply for an e-money license.

The Role of Institutional Adoption

In 2025, the cryptocurrency market may find itself at a crossroads. If the bulls are right, the industry could see substantial growth, with more institutional investment, regulatory clarity and real-world use cases for cryptocurrencies

However, if the bears prevail, we may witness a volatile market, regulatory crackdowns and a continued struggle to overcome the technology’s shortcomings.

The bullish optimism surrounding institutional adoption is one of the strongest driving forces. In 2025, financial institutions, banks and even central banks are expected to play a significant role in legitimizing cryptocurrencies.

 Global financial giants are already eyeing blockchain for solutions like cross-border payments and settlement systems, providing liquidity for crypto markets and solidifying their utility in traditional finance.

Stablecoins — digital currencies pegged to traditional assets like the U.S. dollar — are likely to become a common mode of transaction. With major players in FinTech, like PayPal and Visa, already integrating cryptocurrencies into their platforms and experimenting with stablecoins, real-world use cases could soon be as easy as tapping a credit card.

The Bearish Argument: Volatility, Regulatory Shadows

Perhaps the biggest concern for crypto’s future is government regulation. The lack of clear rules around cryptocurrencies has been a major deterrent for mainstream adoption.

PYMNTS covered on Nov. 25 how cryptocurrencies, and more specifically their underlying blockchain technologies, have gone from a solution in search of a problem to a solution in hopes of some regulatory clarity. Of course, that clarity may come when cryptocurrency companies and other firms embrace and invest in, rather than resist, appropriate guardrails for their industries.

The dynamic situation at home in the U.S. has even led to people like venture capitalist Marc Andreessen arguing that banks are cutting ties with customers on the political right, or with industries such as the cryptocurrency sector.

Writing about the issue earlier this month, PYMNTS argued that while Andreessen’s claims might resonate with the frustrations held by many corners of the cryptocurrency and FinTech sectors, the reality could be far more nuanced than a political assault on those industries.

“After all, innovation typically moves faster than regulation, and the growing strain between traditional banks and future-fit FinTech and crypto firms can also be in part chalked up to the inevitable consequence of outdated regulatory frameworks, stricter know your customer (KYC) and anti-money laundering (AML) standards, as well as heightened fraud risks,” that report said.

@ Newshounds News™

Source:  Pymnts

~~~~~~~~~

WESTERN MARKETS LOSING THEIR GRIP ON GOLD & SILVER

Precious metals expert Peter Grandich warns of Western markets losing their grip on gold and silver, with Asia emerging as the dominant force.

In a recent interview by Liberty and Finance, renowned precious metals expert Peter Grandich discussed the shifting dynamics of the global gold and silver markets. Grandich, a seasoned investor with decades of experience, highlighted the diminishing influence of Western markets like London and New York, asserting that "Asia is becoming the center for Metals trading... Europe particularly London and New York as each day goes by is becoming less and less of a force."

This shift, he argued, could have profound implications for market volatility and price discovery. "The difference is there are serious physical buyers of it [gold], not these paper pushers that have existed in London and New York," Grandich emphasized. He further noted that the decline of Western dominance could lead to reduced market manipulation and increased price stability in the long run.

Bullish on Gold, Cautious on Silver

Grandich maintained a bullish outlook on gold, predicting a potential price target of $3,000 per ounce in 2025. He attributed this bullish sentiment to continued central bank buying and the potential for increased mainstream investor interest. However, he cautioned that a correction, potentially reaching $2,300, could occur in the short term.

Regarding silver, Grandich acknowledged its strong fundamentals but expressed concern over its persistent inability to decouple from gold's price movements. He believes that silver needs to break above the $35-$36 per ounce level to establish its momentum.

Geopolitical Uncertainty and the US Dollar

Grandich highlighted the potential impact of geopolitical uncertainty and the weakening US dollar on precious metals prices. He emphasized that the rising national debt and the ongoing trade war could weaken the dollar's strength, bolstering the appeal of gold as a safe-haven asset.

Beyond market predictions, Grandich stressed the importance of sound financial planning, emphasizing the need for individuals to prioritize cash flow management and reduce reliance on debt. "Less is more," he stated, emphasizing the importance of living within one's means and minimizing financial risk.

@ Newshounds News™

Source:  The Jerusalem Post

Watch:  Youtube

~~~~~~~~~

THE CONSTITUTION CALL

Invite a Study Buddy to learn who you are, your status, and the Constitution.  Make it fun learning our history.  See the Constitution and the new financial system connect with Nesara.  Listen live tonight and ask questions.

Join the call: Link  

Friday Nights: 5:00 Pacific, 7 :00 Central, 8 EST

@ Newshounds News™

Previous Calls:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Friday Morning 1-3-25

Good Morning Dinar Recaps,

RIPPLE XRP NEWS: CEO BRAD GARLINGHOUSE ‘EXCITED’ FOR 2025 AND REAL-WORLD UTILITY

▪️Brad Garlinghouse expressed his enthusiasm for 2025 on X, highlighting the increasing momentum and greater focus on real-world utility.

▪️Ripple made considerable strides in reshaping the financial landscape by forging new partnerships with major financial institutions throughout the year.

Ripple CEO Brad Garlinghouse has shared his palpable excitement about the potential developments expected in the year 2025, a pivotal moment that could redefine the cryptocurrency landscape.

 He foresees substantial growth for Ripple and a broader transformation in the financial ecosystem as it increasingly embraces digital assets and blockchain technology, with a growing emphasis on real-world utility.

Apart from Brad Garlinghouse’s optimistic outlook, the XRP Army is equally enthusiastic about the prospects for XRP in the current year. A key catalyst for this optimism is the anticipated approval of an XRP-related Exchange-Traded Fund (ETF) by the SEC, which many believe could significantly boost XRP’s legitimacy and market appeal.

Furthermore, the prospect of pro-crypto leadership under a Donald Trump presidency, alongside appointments such as Paul Atkins as the incoming SEC Chair, Scott Bessent as Treasury Secretary, Billy Long overseeing IRS commissions, and David Sacks in the newly created role of AI and Crypto Czar, signals a promising shift towards a more favorable regulatory environment for digital assets.

Additionally, the long-awaited settlement of the SEC lawsuit against Ripple, a legal battle that has cast a shadow over XRP’s potential, is viewed as a hopeful turning point. Together, these developments suggest not only a brighter future for Ripple but also for the broader cryptocurrency market.

Ripple 2024 Highlights

In 2024, Ripple marked a series of significant milestones that reinforced its mission to transform the financial landscape. The year began with a partnership with EasyA to launch an educational program aimed at teaching over 750,000 developers how to utilize smart contracts on the XRP Ledger. This initiative bolstered Ripple’s commitment to fostering community engagement and innovation.

Ripple also collaborated with SBI Group and HashKey DX to develop customized solutions on the XRP Ledger, with SBI becoming the first Japanese corporation to implement these blockchain solutions in supply chain finance. 

A pivotal moment came in February when Ripple acquired Standard Custody, bringing it closer to securing a coveted U.S. charter and solidifying its presence in the U.S. market.

The announcement of a partnership with Clear Junction in June highlighted Ripple’s dedication to enhancing cross-border payment capabilities with European banks, adding credibility to its operations.

Lastly, Ripple introduced its stablecoin, RLUSD, fully backed by U.S. Treasuries, bank deposits, and cash equivalents through a New York Department of Financial Services (NYDFS) trust charter. Potential applications for RLUSD include cross-border payments, corporate treasury functions, decentralized finance (DeFi), and trading collateral, along with the advantage of over 90 global payout markets.

These strategic initiatives contributed to XRP’s impressive rise from $0.62 at the start of the year to an all-time high of $2.89 by December 3, with current pricing at $2.40. As we begin this new year, market sentiment remains cautiously optimistic as investors keep a close eye on Ripple’s trajectory and regulatory developments.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

X MONEY TO SUPPORT CRYPTO AT LAUNCH? BEST WALLET COULD BE THE MISSING LINK

The imminent debut of Elon Musk’s X Money, also known as X Payments, is sparking widespread speculation.

Theories surrounding the payment platform are swirling after X CEO Lindas Yaccarino confirmed on New Year’s Eve that it’ll launch in 2025 alongside X TV and Grok.

According to American entrepreneur Alex Finn, leaked code recently suggested it’ll be launching imminently – possibly even today.

What’s more, it might only be available in 39 US States initially, where X Money’s backbone, X Payments LLC, has secured regulatory approvals.

X Payments to Include Crypto?

At its core, X Money will enable users of X (formerly Twitter) to tip content creators.

With financial incentives enabled by X Money, creators might be more inclined to produce richer content that enhances X’s offerings – especially those who aren’t reliant on conventional ad revenue models.

The platform’s exact details have not yet been disclosed. Yet, Finn announced it’ll support crypto in a self-hosted X space.

There’s surging suspicion that X Money will support Bitcoin ($BTC) and Dogecoin ($DOGE), owing to Musk’s already accepting $DOGE payments at Tesla. Musk also holds $1.1B $BTC for his $1.19T supercar company.

Considering Elon Musk’s Web3 advocacy, crypto and even meme coin support wouldn’t come as a surprise.

Supporting crypto could also provide huge user benefits, owing to its decentralized nature and speedy processing times. As one X user commented in response to Finn’s post, “No permission needed, no holding back, just pure opportunity.”

Best Wallet Could Streamline X Money

Using a reliable crypto wallet like Best Wallet will be an essential accessory for those interested in Musk’s payment platform. That’s because you need a good wallet for your crypto before you can use it to tip anyone.

Best Wallet is on track to attract 40% of the 11B non-custodial wallet market by 2026. It sets itself apart from competitors like MetaMask owing to its unwavering support of presale projects and 60+ blockchain networks.

Best Wallet’s multi-blockchain support and user-friendly functionality should meet X Money payment requirements.

Another perk is its off-ramping function. Users can easily convert crypto into 100 fiat currencies (including $GBP, $USD, and $EUR) in their bank accounts. This means content creators being tipped in X Money can easily convert their funds into real-world currency for everyday spending.

For just $0.023375, $BEST token buyers can join the crypto wallet token project and have a say in the Best Wallet ecosystem’s future. Given the radical disruption changes to the game that launches like X Money pose, it’s no wonder Best Wallet’s presale has already raised over $6.2M.

However, this isn’t financial advice. Be sure to always do your own research before making any bold investment choices.

@ Newshounds News™

Source:  Bitcoinist

~~~~~~~~~

XLM NEWS TODAY:

XLM'S SHOCKING POTENTIAL EXPOSED IN X'S NEW PAYMENT SYSTEM

Could Stellar be the underlying network of X's new payment system?

@ Newshounds News™

Source:  Youtube

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Thursday Evening 1-2-25

Good Evening Dinar Recaps,

HOW DISTRIBUTED LEDGER TECHNOLOGY CAN ENHANCE CROSS BORDER PAYMENT SOLUTIONS

Over the last few years, financial institutions around the world have embraced tokenization for capital market asset management. Kelvin Li, Head of Platform Tech and Jessica Cao, Head of International Financial Institutions Partnerships at Ant International, discuss how distributed ledger technology can be leveraged with tokenized assets to enable interoperability.

Tokenization as a concept can have different meanings. In the domain of payments and settlement, it typically refers to the integration of new technologies to either expand their capabilities or improve their performance through distributed ledger technology (DLT). 

According to a 2024 McKinsey report, the tokenized asset market is projected to grow to $1.9T by 2030, with tokenized deposits projected to reach a market capitalization of $1.1T and other assets classes making up the remaining $0.8T.

The nature of tokenized deposits could inherently lend itself to facilitate near real-time in a cross border environment. The current offering of tokenized deposits is bounded by a single platform or issuer, while cross border payments entail different currencies and payment systems. This means that tokenized deposits would need a way to be exchanged to ensure the transfer of funds from one jurisdiction to another can be completed end-to-end.

Considering its potential to revolutionize cross border payments, leading industry players are working towards an interoperable tokenized asset ecosystem that could address these challenges. One solution could be a token exchange model enabled by liquidity providers. While liquidity provision is not a novel concept, innovation in the Web 3.0 space, by platforms such as Uniswap, significantly popularized and advanced the concept by making liquidity provision more accessible. In the regulated world, a similar model can be borrowed to incentivize liquidity provision.

At a mature stage where token types are no longer a barrier to payments, we then can reap the benefits of DLT to enable lower costs, real-time atomic payments, more efficient reconciliation and more secure transmissions, bringing about the next evolution of cross border payments.

Enabling Liquidity Providers in Token Exchange

Liquidity providers would play a key role in facilitating cross-issuer or cross-currency tokenized deposit transfers. In this context, the liquidity provider would perform the token exchange and provide the price quotation for different token pairs. Leveraging smart contracts, the liquidity provider can perform on-chain fulfilment of the token swap, ensuring transparent, immutable and secure transactions to occur in real-time. In addition, programmability embedded in the tokens, such as conditional payments, would be able to enhance transaction efficiency and flexibility.

For example, conditional payments can automate processes such as releasing funds only when predefined conditions are met, reducing the need for intermediaries for lower cost and mitigating risks of disputes. 

This programmability can also enable features like automated compliance checks, escrow arrangements, or milestone-based disbursements, all of which can streamline operations.

While liquidity providers are rewarded with liquidity cost and price spread, the entry of more liquidity providers will unlock additional liquidity. Additionally, liquidity providers could exchange tokenized deposits with each other, creating a more robust and interconnected liquidity network.

This would further enhance market efficiency by enabling seamless transfers and price discovery across different currencies and platforms.

We do recognize the potential drawbacks of this structure, such as the risk of liquidity fragmentation, as liquidity providers would need to separately fund both fiat and token accounts. This could lead to higher costs and, consequently, less efficient price discovery.

However, this structure can be more inclusive compared to existing payment services, potentially driving higher efficiency in cross border payments from end to end.

Ant International’s Multi-Currency Tokenization Deposit for FX Payments

At Ant International, due to the global nature of e-commerce transactions, we initiate and receive payments around-the-clock in multiple jurisdictions. We are piloting an approach for a deposits token exchange model. 

Partnering with a liquidity provider, we facilitated cross border payments by leveraging banking partners to provide off-chain FX pricing through Price Oracle. 

The tokens used to complete the cross border payments were denominated in different currencies and by different issuers. We found that the token exchange model was a potential solution for cross border payments using tokenized deposits and intend to scale up this usage in the future.

With the tokenized asset market and global business-to-business payments market set to increase exponentially in the coming years, financial institutions have started to review and enhance their existing solutions and infrastructure to ensure they are strategically positioned to support this growth. But one asset class or a single financial institution alone will not make a big enough impact.

In order to enhance cross border payment solutions across the entire industry, public-private collaboration still remains key, through industry-wide initiatives. We have already seen a number of forward-looking central banks and regulators launch such programs, which are still ongoing. 

These projects will not only help to advance existing technology, they also have the potential to enhance existing laws and regulations and ensure that the key users and beneficiaries of tokenization are protected.

@ Newshounds News™

Source:  Ledger Insights

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CHINA’S NEW RULES FORCE BANKS TO FLAG TRANSACTIONS WITH CRYPTO: REPORT

China’s new rules require banks to flag risky transactions, including those involving crypto, making it harder for mainland investors to trade digital assets.

China‘s foreign exchange regulator, the State Administration of Foreign Exchange, has rolled out new rules requiring banks to keep a closer eye on transactions involving digital assets, the South China Morning Post has learned, citing the regulator’s announcement.

The rules, applicable to local banks in mainland China, focus on identifying “risky foreign exchange trading behaviors,” the report reads. These include underground banking, cross-border transactions involving crypto, and illegal financial activities.

Banks now have to track transactions by checking things like who’s involved, where the money is coming from, and how often the trades are happening. Additionally, Chinese banks are also expected to create risk-control measures for these entities and limit their access to certain services, the report says.

The new rules are part of China’s push to tighten control over crypto, including Bitcoin trading and mining, which officials see as a risk to financial stability.

China has taken a tough stance on crypto over the years. Back in 2017, Beijing banned initial coin offerings and shut down domestic crypto exchanges to prevent financial risks. By 2021, things escalated with a full ban on crypto trading and mining. Despite these restrictions, it’s still technically legal for individuals to hold digital assets, though the gray areas in regulation keep things complicated.

@ Newshounds News™

Source:  Crypto News

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