Seeds of Wisdom RV and Economic Updates Friday Morning 3-07-25

Good Morning Dinar Recaps,

TRUMP’S BITCOIN RESERVE PLAN: FUNDED BY CONFISCATED CRYPTO, NOT TAXPAYER’S WALLET

Trump orders U.S. Bitcoin reserve using seized assets, securing crypto holdings without taxpayer funds & reshaping digital finance.

U.S. Bitcoin stockpile signals global shift as other nations may race to establish their own reserves, boosting crypto adoption.

In a historic move this evening, President Donald Trump signed an executive order creating the United States’ first-ever strategic Bitcoin reserve. This major step in cryptocurrency policy is set to solidify the U.S.’s position in the growing digital asset space.

Bitcoin Reserve Without Taxpayer Funds

The executive order establishes a reserve for Bitcoin, which will be held exclusively in a digital stockpile. However, Trump’s plan does not rely on taxpayer funding. Instead, the reserve will be exclusively capitalized with Bitcoin that the federal government has confiscated through criminal and civil forfeiture cases. According to David Sacks, the White House crypto czar, this means no taxpayer dollars will be used to fund the reserve.

“The reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings,” Sacks said.

Digital Fort Knox: Long-Term Bitcoin Safeguarding

Trump said that the reserve will act as a digital equivalent of Fort Knox, safeguarding the nation’s Bitcoin holdings for the long term. In his remarks, Sacks explained the importance of this reserve, stating that previous premature sales of Bitcoin by the U.S. government have resulted in over $17 billion in lost value. This new initiative aims to prevent such losses by establishing a strategic, long-term holding strategy.

Expanding Beyond Bitcoin: U.S. Digital Asset Stockpile

In addition to the Bitcoin reserve, the executive order also includes a broader U.S. digital asset stockpile, which will include other cryptocurrencies, such as Ethereum, XRP, and Solana, all of which have been seized through forfeiture proceedings. However, the government will not seek to purchase more of these digital assets unless it can do so without additional cost to taxpayers.

Global Impact: The U.S. Leads the Way

This move marks a milestone not only for the U.S. but for the entire cryptocurrency market. With the federal government committing to hold Bitcoin as a store of value, the likelihood of Bitcoin being banned by the government has dramatically decreased. Additionally, this sets the stage for other countries to establish similar Bitcoin reserves, as global competition for Bitcoin intensifies.

Strategic Reserve: Preserving and Maximizing Value

The strategic reserve will not involve any immediate sales or purchases of Bitcoin, as it focuses on preserving and maximizing the value of assets already acquired by the government. The executive order also directs a full audit of the U.S. government’s existing digital asset holdings, with a focus on ensuring responsible stewardship under the Treasury Department.

Industry insiders have reacted positively to the news, with many viewing this move as a precursor to future institutional and state-level adoption of Bitcoin. As this strategy unfolds, experts predict that other nations will closely monitor the U.S.’s approach and may follow suit in creating their own strategic Bitcoin reserves.

The announcement comes just ahead of the White House Crypto Summit, where policymakers and industry leaders will discuss the future of digital assets and the regulatory framework surrounding them. With the U.S. leading the way in government-held Bitcoin reserves, the global crypto landscape is poised for a major transformation.

@ Newshounds News™

Source:  Coinpedia

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CARDANO’S CHARLES HOSKINSON REACTS TO WHITE HOUSE CRYPTO SUMMIT SNUB

Hoskinson focuses on legislative progress, unfazed by his absence from Trump's crypto summit.

Cardano founder Charles Hoskinson has revealed that he was not invited to the upcoming White House Crypto Summit on March 7.

His exclusion has sparked discussions, especially since the blockchain network’s ADA token is included in US President Donald Trump’s proposed crypto reserve.

No White House invite

In a March 6 broadcast, Hoskinson revealed that he had not received an invitation to the highly anticipated crypto event.

According to him:

“We did not get an invitation on Monday. We did not get an invitation on Tuesday. We did not get an invitation today on Wednesday. So I’m going to operate under the assumption I have not been invited to go to this gathering.”

Hoskinson downplayed the event’s significance, suggesting it might not involve meaningful policy discussions. He argued that real policy work happens within the legislative branch, where he has collaborated with lawmakers over the years.

He reaffirmed his commitment to pushing for regulatory clarity through legislative engagement, particularly on key bills related to stablecoins and market structure.

Despite his absence, several key figures in the crypto industry have confirmed their attendance. Among them are Michael Saylor, Chairman of Strategy—the largest corporate holder of Bitcoin—along with Brian Armstrong of Coinbase, Arjun Sethi of Kraken, and Vlad Tenev of Robinhood.

ADA in crypto reserve

Meanwhile, Hoskinson’s exclusion is particularly striking given that ADA has been listed as part of Trump’s proposed crypto reserve.

The president recently announced plans to create a reserve featuring Bitcoin, Ethereum, XRP, Solana, and Cardano. He is expected to outline his strategy for this initiative at the event.

The Cardano founder admitted that he was unaware of ADA’s inclusion until the news broke.

According to him:

“We knew nothing of ADA being selected for the reserve. It was news to me. I woke up on Sunday, looked at my phone, and I had over one hundred fifty messages saying congratulations, great job, and I had no idea what the heck was going on.”

@ Newshounds News™

Source:  CryptoSlate

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Seeds of Wisdom RV and Economic Updates Thursday Evening 3-06-25

Good Evening Dinar Recaps,

U.S. CRYPTO RESERVE NEWS: DONALD TRUMP TO REVEAL BITCOIN STRATEGY TOMORROW!

After doubts over Bitcoin reserve plans and fading sentiment, the market is buzzing again as Trump prepares to unveil a Bitcoin Strategic Reserve at the White House Crypto Summit on March 7. 

Commerce Secretary Howard Lutnick confirmed a national crypto strategy is in the works, sparking speculation on whether the U.S. will buy more Bitcoin or hold its 200,000 BTC. Bitcoin has reacted strongly, rebounding to $90K after dropping to $ 82 K.

Let’s dive into the Altcoin Daily analysis on Trump’s Bitcoin Strategic Reserve and what it means for you.

A National Crypto Reserve in the Making

Trump’s announcement has ignited speculation that the reserve may extend beyond Bitcoin. A Truth Social post hinted at a broader “National Crypto Reserve,” fueling discussions that Ethereum, Solana, XRP, and Cardano could be included.

While it’s uncertain if the government will buy these altcoins, speculation is growing that they might be accepted through donations. This could pave the way for major crypto firms to contribute assets in exchange for regulatory clarity and potential future advantages.

Crypto Leaders Gather at the White House

The White House Crypto Summit boasts a star-studded lineup, highlighting the weight of Trump’s initiative. Confirmed attendees include Ripple CEO Brad Garlinghouse, MicroStrategy’s Michael Saylor, Bitcoin Magazine’s David Bailey, and Chainlink’s Sergey Nazarov, along with CEOs from Coinbase, Kraken, Robinhood, and Crypto.com. 

Key government officials, including acting SEC and CFTC chairs, will also be present. Unconfirmed reports hint at appearances from Solana’s Anatoly Yakovenko, Cardano’s Charles Hoskinson, and Ethereum’s Vitalik Buterin. The event’s high-profile nature underscores a serious move toward shaping the U.S. crypto strategy.

How Will the U.S. Fund This Move?
Michael Saylor, in a recent interview, suggested that while Trump could issue an executive order to set the framework, actual purchases might require congressional approval. However, an alternative strategy exists. The Federal Reserve holds gold certificates valued at 1970s prices.

 By selling these and converting the proceeds into Bitcoin at current market rates, the U.S. could accumulate a significant BTC reserve without new spending.

A Turning Point for Crypto Regulation?

Altcoin Daily analyst suggests that Trump’s upcoming announcement could shake up the entire crypto market. Just before Trump’s statements, a trader made a massive $200 million bet on crypto and has also named himself March 7, raising questions about whether they had inside information.

While the announcement might not reveal the full plan, analysts believe it could give a clearer picture of how the U.S. government plans to deal with crypto in the future. At this point, it’s not about whether the U.S. will create a Bitcoin reserve—it’s about whether it will focus only on Bitcoin or include other cryptocurrencies as well.

On the flip side, Solana co-founder Anatoly Yakovenko dismissed the idea of an SOL reserve, warning that government control would undermine decentralization. However, he reassured the Solana community, stating that if there’s a goal to achieve, the ecosystem will rise to the challenge.

@ Newshounds News™

Source:  Coinpedia

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INDIA OFFICIALLY DISMISSES BRICS CURRENCY, PRAISES THE US DOLLAR

The Modi government is placing a ledge on the de-dollarization ideals and making way for the US dollar to thrive. BRICS member India has once again rejected the prospects of a new currency and praised the US dollar for maintaining global stability. India’s Foreign Minister S. Jaishankar spoke in favor of the US dollar sidelining the idea of launching a new currency on the global stage.

India is the only country in the bloc that is moving away from the formation of a new common currency. BRICS members Russia, China, and Iran are aggressively pursuing the agenda to topple the US dollar from the world’s reserve currency status. 

The alliance is now divided as India is stepping aside and Brazil also revealed that they plan to drop the idea of a BRICS currency.

India Wants the US Dollar & Not BRICS Currency

Speaking at a session titled ‘India’s Rise and Role in the World’ in London, Jaishankar confirmed that they’re not interested in BRICS currency. “I don’t think there’s any policy on our part to replace the US dollar. As I said, at the end of the day, the dollar as the reserve currency is the source of international economic stability. And right now, what we want in the world is more economic stability, not less,” he said.

The statement from Jaishankar is at odds with what Russia, China, and Iran intend to streamline the alliance. India is on a different path and has openly embraced the US dollar rejecting the prospects of a BRICS currency. The move will make it tougher to launch a common currency as the decisions of the bloc are based.

The formation of a new BRICS currency could take longer than expected due to the ongoing divisions. In conclusion, the de-dollarization agenda might not take off in the coming years making the US dollar reign supreme for longer.

@ Newshounds News™

Source:  Watcher Guru

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 3-06-25

Good Afternoon Dinar Recaps,

ESMA ACCUSED OF OVERREACH RE NON-EU CRYPTO PROVIDER GUIDANCE

Last Thursday Europe’s Target2 (T2) and Target2 Securities (T2S) interbank payment systems went down throughout normal business hours.

The European Central Bank (ECB) extended operating hours until midnight, as the system only came back online at 18:00, when the real time gross settlement (RTGS) would usually be taking its last instructions. It’s a relatively rare failure, but not unheard off – another outage of similar scale happened in October 2020.

There was one critical difference. The 2020 outage was on a slow Friday afternoon. This year’s was the day before month end, a busy time for both mainstream payments and securities settlement.

If there were a wholesale central bank digital currency (wCBDC) system, similar to the Banque de France’s DL3S, would that help to provide redundancy? At this stage our analysis is only ‘maybe’ and it will take a while.

Database failures and blockchain redundancy

At first the ECB identified a database error. Hence, it initially thought it couldn’t switch to the failover location because it was corrupted. Late in the day it found the problem was “an infrastructure component,” which we’d assume means a hardware failure. Hence, the database was switched to the failover location and the system was restarted after checks.

Without using blockchain, it’s possible to replicate databases in real time. That’s the way most large internet systems work. And from the description, we believe T2 does this.

Until recently, the approach used to be referred to as a master and slave database, which while politically incorrect, describes the relationship more clearly than primary and secondary.

If the primary database has been corrupted in some way, the replicated database is a copy that’s in exactly the same state. However, if one can identify a point (or transaction) where the problem starts, it’s often possible to roll back a few transactions on the replica, and get up and running from there.

By contrast, a blockchain works differently. Like database replications, there are multiple nodes. 

But it provides redundancy because in the case of validating nodes (which can write to the ledger), each node’s ledger contents are not just copied from the primary ledger, they’re independently created based on transaction verifications. A bogus transaction can get approved by all nodes, but is likely to be deliberate.

The two bucket metaphor

An imperfect analogy is havings two taps, each with a bucket. In the replicated database case, one bucket has a flow of water and reaches a certain level.

The second bucket then has a tap that automatically switches on and aims to get to the same level. By then, the first tap is already filling up further.

In the blockchain case, the taps would drip water into their respective buckets in a synchronized fashion at the same rate.

However, blockchains aren’t really designed for situations where just one party (the central bank) writes transactions. If the sole purpose is redundancy, it’s a significant overhead to run a blockchain system that has to arrive at a consensus between nodes in order to write to multiple separate databases.

On the other hand, if there’s another purpose, such as enabling atomic settlement for securities transactions and programmability, then it might just be worth it.

The ECB has other redundancies

The ECB already has multiple strategies for T2 redundancy. In addition to the failover location, there’s also the Enhanced Contingency Solution II (ECONS II). However, it does not have the same level of functionality as T2, so it was only used for foreign exchange payments to CLS and margin calls by central counterparties (CCPs).

If something like France’s wCBDC had been in production, it would still need to tokenize money transferred from the RTGS (or escrowed) in order to function. 

So in the first instance, if T2 was down, the wCBDC might also be out of action. If ECONS II were allowed to be used for banks  to top up their wCBDC balances, then banks could potentially make some settlements that way. But ECONS II often requires additional collateral from banks.

There’s a much bigger reason why a wCBDC – in the early stages – is unlikely to help with redundancy. wCBDC systems are not designed to clone the functionality of an RTGS.

They usually have specific purposes targeted at the settlement of transactions relating to tokenized assets, whether that’s a digital bond or the interbank settlement of tokenized deposits. Hence, their integration with commercial bank systems will be focused on these functionalities alone.

That said, if there were a tokenized deposit system that was up and running with most banks onboarded, in a crisis it might be possible to switch to tokenized deposits and wCBDC as a primary solution for payments. But we’re currently a way off from that happening.

@ Newshounds News™

Source:  Ledger Insights

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ECB CUTS INTEREST RATES TO 2.65% – WHAT IT MEANS FOR MARKETS & CRYPTO

▪The European Central Bank has reduced key interest rates to 2.65% to stimulate economic growth.

▪While lower rates may boost markets, inflation remains a concern, and bond market volatility suggests potential instability.

▪Geopolitical factors and internal ECB divisions make future rate cut timelines and impacts unpredictable.

The European Central Bank (ECB) has cut interest rates to 2.65%, down from its previous peak of 4.5%. This move follows a global trend where central banks are easing financial policies to support economic growth. In the U.S., traders expect at least three rate cuts from the Federal Reserve in 2025, while Germany and China are using government spending to keep their economies stable.

ECB’s Rate Cut: What Changed?

According to the ECB’s statement, key interest rates have been reduced by 0.25 percentage points. The deposit facility rate is now 2.50%, the main refinancing rate 2.65%, and the marginal lending rate 2.90%. These changes take effect on March 12, 2025.

Lower interest rates typically increase the flow of money, which can boost stock markets and riskier assets like cryptocurrencies. Analysts believe this easing cycle could push crypto prices higher, despite concerns over slowing economic growth. However, some worry that cutting rates too aggressively could cause long-term issues, especially since inflation in Europe is still above the ECB’s 2% target.

Bond Markets in Chaos

The bond market has already responded. Germany’s 10-year government bond yield has surged to 2.8%, its highest level in over a decade. This has narrowed the gap between German and U.S. bond yields, putting downward pressure on the U.S. dollar. The situation is similar to market shifts seen during Donald Trump’s first term, when global financial changes impacted currency values.

Meanwhile, U.K. bond yields have also risen, now surpassing those of the U.S. In Japan, the country’s 10-year bond yield has reached 1.5%, its highest in 17 years. The Bank of Japan, which recently raised interest rates after years of keeping them low, is now struggling to keep inflation in check.

Will Crypto Benefit From Lower Rates?

While the ECB’s rate cut may provide short-term relief, financial markets remain uncertain. If bond market volatility continues, investors might be more cautious with riskier assets like cryptocurrencies. While lower interest rates usually benefit crypto, sudden market changes could still bring instability.

Uncertainty Ahead: Inflation, Politics, and Growth Risks

Market analyst Max Wienke notes that while the ECB is expected to cut rates further, the outlook remains unclear. Inflation in the Eurozone has dropped slightly to 2.4%, which supports more rate cuts. However, unpredictable factors—such as Trump’s trade policies and the ongoing Ukraine war—add complexity. Divisions within the ECB are also growing, making it harder to predict the pace of future cuts.

The key concern is balancing inflation control with economic growth: aggressive easing could fuel inflation, while slow cuts might weaken recovery.

@ Newshounds News™

Source:  Coinpedia

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BREAKING: TEXAS SENATE PASSES BITCOIN RESERVE BILL

This marks a major breakthrough for state-level SBR bills that so far have struggled to gain traction.

The Texas Senate has just voted in favor of a strategic Bitcoin reserve bill (SBR). The bill (SB21) has passed in a 25-5 vote. This marks a significant breakthrough for state-level SBR bills after some other states rejected them in quick succession.        

Senator Charles Schwertner has stated that Bitcoin has proven itself to be "the most preferred because of its limited supply and adaptability."

The SB21 bill, which was originally filed on Feb. 12, stipulates that the reserve would be funded from appropriations, revenues as well as donations. It does not set a specific investment limit. 

It allows investing in Bitcoin or an altcoin that has a market capitalization of at least $500 billion.  Overall, more than 20 states have already introduced state-level SBR bills.

@ Newshounds News™

Source:  U Today

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Seeds of Wisdom RV and Economic Updates Thursday Morning 3-06-25

Good Morning Dinar Recaps,

WHITE HOUSE CRYPTO SUMMIT 2025: EVERYTHING IMPORTANT YOU NEED TO KNOW

The White House Crypto Summit on March 7 will bring together crypto industry leaders and regulators for a night that many believe could shed more light on President Trump’s plans for crypto in the U.S. Here’s what you need to know.

According to FOX Business journalist, Eleanor Terrett, the summit will be a gathering of around 20 to 25 people at a roundtable setting hosted at the White House.

The White House Crypto Summit guest list, according to insiders, will be smaller than expected, but includes major crypto industry leaders and regulators from relevant government bodies. Sources claim attendees will receive official invites from the White House via email.

Earlier this month, AI and crypto czar David Sacks shared the news on his X account, saying that the White House is gearing up to host the first crypto-focused summit on March 7.

“Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there!” said Sacks in his post.

Due to the limited list of attendees, Terret said that a “larger, invite-only reception” will be held following the meeting for those not invited to the smaller round-table meeting but still considered relevant for the development of the crypto space in the U.S.

“This is all happening in real time with plans not 100% finalized so things could change but that’s what I’m hearing at this hour,” said Terret in her post.

A number of White House officials have also confirmed their attendance, including Executive Director of Presidential Council on Digital Assets Bo Hines, AI and crypto czar David Sacks, SEC Chair Mark Uyeda, and CFTC Chair Caroline Pham.

Meanwhile Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Attorney General Pam Bondi have yet to confirm their attendance at the White House Crypto Summit.

So far, around 15 crypto industry leaders from major firms like Strategy, Gemini, Coinbase, Robinhood, Ripple XRP and Crypto.com have confirmed that they will be attending the White House Crypto Summit.

On the other hand, crypto journalist Laura Shin claimed that sources say Cardano Founder Charles Hoskinson has not been invited to attend the summit. Not only that, Solana founder Anatoly Yakovenko also has not confirmed his attendance.

Here’s what we know so far about the upcoming White House Crypto Summit.

Who will be attending the White House Crypto Summit, and who will not?

According to Eleanor Terrett, the list of attendees will include prominent figures from the crypto industry, which includes Strategy Chair Michael Saylor, Paradigm co-founder Matt Huang, CEO of Exodus J.P Richardson, Robinhood CEO Vlad Tenev and Gemini co-founders Tyler Winklevoss and Cameron Winklevoss.

The White House Crypto Summit will also reportedly host major industry players such as Coinbase Base CEO Brian Armstrong, Kraken CEO Arjun Sethi, Bitcoin Magazine David Bailey, Chainlink co-founder Sergey Nazarov, Crypto.com CEO Kris Marszalek, Managing partner at Multicoin Capital Kyle Samani and World Liberty Financial co-founder Zach Witkoff.

Ripple CEO Brad Garlinghouse had been one of the first figures to confirm his attendance, not long after Sacks’ post about the summit.

“I will certainly continue to champion this while in Washington at the end of this week,” Garlinghouse had written in his March 2 post.

According to an Unchained report, inside sources claimed that Garlinghouse had been the one to convince President Trump to include Solana in the crypto reserve in order to make the inclusion of XRP in the reserve “seem more legitimate.”

When asked about the rumor, a Ripple spokesperson did not confirm nor deny it. Instead, he referred to Garlinghouse’s earlier post praising Trump’s crypto vision and emphasizing the importance of cooperation between crypto firms in reaching the industry’s goals.

However at press time, Solana founder Anatoly Yakovenko has not officially confirmed his attendance at the summit. Other crypto figureheads whose attendance status is still unclear include ARK Invest CEO Cathie Wood,  Ethereum co-founder Vitalik Buterin and Andreessen Horowitz co-founder Marc Andreessen.
 
Stablecoin firm leaders Tether CEO Paolo Ardoino and Circle USDC CEO Jeremy Allaire have also stayed quiet about the White House Crypto Summit, despite stablecoin being a major element in U.S. crypto-related policy in recent months.

Moreover, according to Unchained, a White House source claimed Cardano founder Charles Hoskinson will not be invited to the White House Crypto Summit. Many traders found this odd considering ADA is among the tokens Trump listed in his plans for the U.S. Crypto Reserve.

In a video posted on his account, Hoskinson said that he was initially unaware of ADA’s inclusion in Trump’s crypto reserve until the announcement came out.

What will be discussed at the White House Crypto Summit?

The upcoming White House Crypto Summit is set to be a discussion forum where policymakers and industry experts come together to talk about the future of crypto regulations and the U.S. crypto reserve. However, while the event is symbolically important, it may not deliver instant policy changes or a major market turnaround.

As previously reported by crypto.news, Commerce Secretary Howard Lutnick hinted that Trump will talk more about how the Bitcoin strategic reserve will be executed at the White House Crypto Summit on March. 7.

Moreover, the highly-anticipated White House Crypto Summit is expected to provide clarity on the Trump administration’s regulatory plans regarding the advancement of cryptocurrency in the U.S., which could further influence the wider global landscape.

@ Newshounds News™

Source:  CryptoNews

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CRYPTO NEWS: CARDANO’S HOSKINSON SNUBBED FOR WHITE HOUSE CRYPTO SUMMIT, RIPPLE CEO ON THE LIST

▪Trump’s White House Crypto Summit Set for March 7 – Key crypto leaders to attend, but Cardano’s Charles Hoskinson is left out.

▪U.S. Crypto Strategy Unfolds – Bitcoin prioritized over altcoins; Trump’s AI & crypto czar David Sacks to lead the discussions.

Anticipation is growing in the crypto world ahead of the White House Crypto Summit set for Friday, March 7, 2025. This first-of-its-kind event is expected to play a crucial role in the future of U.S. crypto policy, possibly launching a U.S. strategic crypto reserve. Several key figures in the industry, including members of former President Donald Trump’s crypto task force, are expected to attend.

However, as the guest list has started to take shape, one notable name is missing:

Cardano co-founder Charles Hoskinson. According to Unchained, a White House source confirmed that Charles Hoskinson was not invited to the summit, nor has Cardano been involved in any policy discussions or meetings with the administration.

“They are running around town trying to push their own sort of narrative. They are not involved in anything about trying to influence policy and they are not invited to Friday’s summit,” the White House source told Unchained.

Hoskinson’s absence is particularly surprising given recent comments from President Donald Trump. On Sunday, Trump mentioned that Cardano’s ADA, would be part of a crypto reserve, which led many to expect Hoskinson’s attendance at the event.

Confirmed Guests for the Summit

Despite the exclusion of Hoskinson, several high-profile crypto industry leaders will be in attendance. The confirmed guest list includes:

▪Brad Garlinghouse – CEO of Ripple
▪Michael Saylor – Founder of MicroStrategy
▪David Bailey – CEO of Bitcoin Magazine
▪Matt Huang – Co-founder of Paradigm
▪JP Richardson – CEO of Exodus
▪Kyle Samani – Managing Partner at Multicoin Capital
▪Zach Witkoff – Co-founder of World Liberty Financial
▪Sergey Nazarov – Co-founder of Chainlink
▪Brian Armstrong – CEO of Coinbase
▪Vlad Tenev – CEO of Robinhood
▪Arjun Sethi – CEO of Kraken
▪Kris Marszalek – CEO of Crypto.com

Hoskinson had previously hinted that he might attend a fundraising dinner for the pro-crypto PAC MAGA Inc., but the White House confirmed that he was not invited to that event either.

Key Focus of the Summit

The summit is set to run from 1:30 p.m. to 5 p.m. ET on March 7 and will be led by David Sacks, President Trump’s appointed AI and crypto czar. One of the main points of discussion will be the handling of Bitcoin and other cryptocurrencies.

Commerce Secretary Howard Lutnick stated in a recent interview that Bitcoin would be treated differently than other altcoins, as it is a significant part of President Trump’s crypto strategy.

@ Newshounds News™

Source:  Coinpedia

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SOLANA CO-FOUNDER SAYS A FEDERALLY CONTROLLED CRYPTO RESERVE WILL HARM DECENTRALIZATION ETHOS, PROPOSES STATES CONTROL THEIR OWN RESERVES

Anatoly Yakovenko, the co-founder of the Solana SOL/USD ecosystem, argued against a federal government-controlled cryptocurrency reserve Wednesday, citing a threat to decentralization.

What Happened: In an X post, Yakovenko outlined his order of preference for a potential cryptocurrency reserve.

“No reserve, because if you want decentralization to fail, you'd put the government in charge of it,” he stated as his first and the most ideal choice.

However, if reserves must be set up, Yakovenko said they should be managed by states as a “hedge” against the Federal Reserve making a mistake.

In the case of a federally administered reserve, Yakovenko proposed basing it on “objectively measurable requirements.”

“I don't care what they are, they can even be constructed such that only Bitcoin satisfies them right now, they just must be objectively measurable and rationally justified,” he explained his point.

When questioned if this was an indirect confirmation that no one from Solana pitched SOL for inclusion in the recently announced U.S. cryptocurrency reserve, Yakovenko stated, “No one asked me, and I didn’t pitch it.”

@ Newshounds News™

Source: Benzinga

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Economist’s “News and Views” Wednesday 3-5-2025

Jim Willie: Trump's Plans With Ripple (XRP) & Precious Metals Backing

Arcadia Economics:  3-5-2025

With the Trump administration recently releasing the list of the 5 cryptos that it expects to hold in a strategic reserve, there's a lot of attention on Ripple (XRP), which Dr. Jim Willie thinks is headed for a precious metals backing.

And to hear his latest thoughts on what the Trump team is planing, gold, silver, and more, click to watch part 2 of this interview with Jim!

https://www.youtube.com/watch?v=PahUfRkc0L0

Atlanta Fed Now Predicting US Recession...Is It Time To Panic?

George Gammon:  3-6-2025

https://www.youtube.com/watch?v=InmPxIaRKg4

GOLD to $3,600? Liquidity Crisis Sparks Big Move! | Michael Howell

Soar Financially:  3-5-2025

The “King of Liquidity” Michael Howell, founder and president of CrossBorder Capital, joins us for an in-depth discussion on global liquidity flows.

 Michael breaks down the hidden dynamics behind secret liquidity injections, unconventional Fed stimulus measures, and China’s struggle to maintain the yuan’s parity.

He explains why the U.S. dollar may soon lose its shine against gold and whether Trump’s iconoclastic ideas could signal a return to a loose gold standard.

00:00 – Intro

00:32 – Meet Michael Howell

01:40 – Global Economy Overview

 02:31 – How Central Banks Affect Markets

03:59 – The Fed and Liquidity

 05:40 – Effects of Liquidity Injections

 07:19 – Fed’s Balance Sheet Explained

09:11 – Bank Reserves & Stress Tests

10:18 – Global Liquidity Cycle & 2025 Forecast

12:00 – Impact on Gold & Cryptocurrencies

13:58 – Bitcoin & Ethereum as Hedges

16:07 – Gold as an Inflation Hedge

18:01 – Drivers of Global Liquidity

 21:29 – Market Volatility & Collateral

23:45 – US Treasury Yields Explained

26:45 – Rising Debt & Gold Prices

29:00 – China’s Impact on the Dollar

31:24 – Liquidity & Gold Price Forecast

32:00 – Global Debt & Refinancing Challenges

 35:32 – Changes in Capital Markets

38:13 – Maturity Wall & Refinancing Risks

 40:09 – Future Liquidity Crisis

42:21 – China’s Monetary Policy Impact

47:20 – Short-Term vs. Long-Term Liquidity

48:09 – Investor Tips: Gold, Bitcoin & Hedges

52:00 – Will the Fed Buy Bonds?

 54:12 – Conclusion & Outro

https://www.youtube.com/watch?v=MNX5ldF29_U

Seeds of Wisdom RV and Economic Updates Wednesday Evening 3-05-25

Good Evening Dinar Recaps,

EXCLUSIVE: GOP LAWMAKERS UNVEIL BILL TO ‘END THE FED’

Republican Utah Sen. Mike Lee and Kentucky Rep. Thomas Massie will reintroduce legislation Wednesday afternoon to abolish the Federal Reserve.

The bill, titled the Federal Reserve Board Abolition Act, would dissolve the Board of Governors of the Federal Reserve System and each Federal Reserve bank with a one-year timeframe. The bill would also repeal the 1913-era legislation that created the central bank to oversee U.S. monetary policy, according to the bill text shared exclusively with the Daily Caller News Foundation.

The congressional Republicans’ reintroduction of legislation to abolish the central bank comes after President Donald Trump has floated exerting more authority over the Federal Reserve and its monetary policy decisions.

The president signed an executive order Feb. 18 to expand his authority over so-called independent agencies but notably exempted the Fed and its authority to set monetary policy and interest rates without presidential oversight.

“[P]revious administrations have allowed so-called ‘independent regulatory agencies’ to operate with minimal Presidential supervision,” Trump wrote in the executive order.

Lee and Massie have consistently advocated for ending the independence of the Federal Reserve, citing their belief that the central bank has mismanaged monetary policy and contributed to inflation. Elon Musk has notably backed their efforts.

Trump repeatedly clashed with Federal Reserve chair Jerome Powell during his first administration. The president criticized Powell for failing to “beat” inflation after the central bank chose not to cut interest rates on Jan. 29.

“The Federal Reserve has not only failed to achieve its mandate, it has become an economic manipulator, directly contributing to the financial instability many Americans face today,” Lee told the DCNF. “We need to protect our economic future, end the monetization of federal debt that fuels unchecked federal spending, and put American money on solid ground. We need to End the Fed.”

“Americans have suffered under crippling inflation, and the Federal Reserve is to blame,” Massie told the DCNF. “During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused high inflation.”

“Monetizing debt is a closely coordinated effort between the Federal Reserve, Treasury Department, Congress, Big Banks and Wall Street,” Massie continued. “Through this process, retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected. If we really want to reduce inflation, the most effective policy is to end the Federal Reserve.”

Lee and Massie previously introduced the legislation during the 118th Congress in June 2024, but neither bill advanced in the House or Senate.

@ Newshounds News™

Source:  The Daily Caller

Download:  Link

~~~~~~~~~

BITCOIN TO BE TREATED DIFFERENTLY FROM ALTCOINS IN US CRYPTO RESERVE, SAYS HOWARD LUTNICK: REPORT

▪️A model for the US crypto reserve is set to be revealed at the inaugural White House Crypto Summit on Friday, according to The Pavlovic Today.

▪️The President is interested in a bitcoin strategic reserve, while other tokens will be treated positively but differently, Commerce Secretary Howard Lutnick told the outlet.

More details about the potential US crypto reserve are set to come out of the White House's inaugural Crypto Summit on Friday, according to independent political news outlet The Pavlovic Today.

"The President definitely thinks that there's a bitcoin strategic reserve," Commerce Secretary Howard Lutnick reportedly told the outlet. "Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that."

Lutnick suggested to The Pavlovic Today that bitcoin would receive a "unique status" under Trump's plans.

"A bitcoin strategic reserve is something the President's interested in. He spoke about it all during the campaign trail, and I think you're going to see it executed on Friday,” Lutnick said. "So bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently — positively, but differently," he added.

The White House Crypto Summit will be chaired by Trump's Crypto Czar David Sacks and Presidential Working Group on Crypto Executive Director Bo Hines.

Some of the Attendees:
Strategy co-founder Michael Saylor, Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi and Chainlink co-founder Sergey Nazarov are expected to be among the crypto industry leaders in attendance.

President Trump announced on Sunday that, following his January executive order, he had directed a working group to "move forward" on a U.S. Crypto Strategic Reserve, including BTC, ETH, XRP, SOL and ADA — with those assets initially rising 10%, 15%, 25%, 30% and 70% from last week's lows, respectively.

Bitcoin subsequently dropped over 10%, and ether plunged more than 15% after Trump's announcement of new tariffs on imports from Canada, Mexico and China fueled risk-off sentiment — erasing the crypto reserve news gains on Monday.

Despite the recent announcements, questions remain over how any such reserve would be funded and how likely it is to be enacted — with Federal Reserve and Treasury Department options both likely to require new legislation to be passed by Congress.

@ Newshounds News™

Source:  The Block

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 3-05-25

Good Afternoon Dinar Recaps,

CUSTODY AND TRANSFERS OF NON-MICA-COMPLIANT STABLECOINS NOT RESTRICTED — ESMA

The European Securities and Markets Authority confirmed that MiCA rules do not explicitly ban non-compliant stablecoin custody and transfers.

The European Securities and Markets Authority (ESMA) has added new comments on the status of stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA), adding to the ongoing uncertainty around their classification and use.

On March 3, Binance announced plans to delist nine non-MiCA-compliant stablecoins, including Tether’s UDSt, for users in the European Economic Area (EEA).

Despite removing the affected tokens for trading, Binance said it will support deposits and withdrawals of non-MiCA-compliant stablecoins after the delisting on March 31.

According to ESMA, a key regulatory body overseeing MiCA compliance in Europe, providing custody and transfer services for non-compliant stablecoins does not violate the new European cryptocurrency laws.

Custody and transfer of non-MiCA-compliant tokens “not explicitly prohibited”

“Under MiCA, custody and transfer services do not in themselves constitute an ‘offering to the public’ or ‘seeking admission to trading’ of non-compliant asset-reference tokens or e-money tokens,” a spokesperson for the ESMA told Cointelegraph on March 4.

“These services are therefore not explicitly prohibited under Titles III and IV of MiCA,” the representative added.

Although the ESMA acknowledged that deposits and withdrawals of non-MiCA-compliant stablecoins are not prohibited, it stressed that European crypto asset services providers (CASPs) should “prioritize restricting services that facilitate the acquisition” of such assets, citing its guidance issued on Jan. 17, 2025.

Another area of confusion over MiCA?

Referring to its January guidance, the ESMA reiterated that CASPs are allowed to maintain “sell-only” services — or withdrawals — until March 31 to allow investors to exit their positions.

“Therefore, it is important that all CASPs carefully assess whether any of their services amount to an offer to the public under MiCA,” the agency told Cointelegraph.

ESMA’s confirmation that MiCA does not explicitly restrict USDt custody and transfers — while also advising CASPs to halt withdrawals after March 31 — adds to ongoing confusion over MiCA compliance.

Juan Ignacio Ibañez, a member of the Technical Committee of the MiCA Crypto Alliance, has previously highlighted that MiCA-triggered USDt delistings have been subject to many debates.

The confusion over MiCA implications for non-MiCA-compliant stablecoins is not the only area of debate regarding Europe’s new crypto regulations.

Many industry observers have previously pointed to compliance questions arising from MiCA not addressing crucial industry sectors, such as tokenized real-world assets, cryptocurrency staking and others.

“ESMA and National Competent Authorities are closely monitoring market developments continuously to ensure an orderly transition to the MiCA regime,” a spokesperson for ESMA said.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

RIPPLE-BACKED NON-PROFT LAUNCHES TO EDUCATE AMERICANS ON CRYPTO

The National Cryptocurrency Association, a new non-profit organization dedicated to enhancing Americans’ understanding of cryptocurrencies, officially launched today.

The NCA has a mission of promoting crypto literacy and safe adoption nationwide in the United States.

Backed by a $50 million grant from Ripple XRP, a leading blockchain company, the NCA aims to demystify cryptocurrencies and serve as a comprehensive resource for individuals interested in using, holding, or learning more about digital assets.

“Crypto going mainstream is no longer a question of ‘if’ but ‘when’,” said Stuart Alderoty, President of the NCA. “Millions are already benefiting from crypto, making it quicker and easier to shop online, send money anywhere in the world, create apps, art, and games, or build financial futures. We’re giving a voice to users from all walks of life and serving as a guide for how to use crypto responsibly.”

The NCA website offers guidance and questionnaires for those interested in entering or investing in cryptocurrency. It features stories of everyday cryptocurrency holders and provides conversational advice for beginners.

Crypto poll findings

To assess current crypto engagement, the NCA partnered with Harris Poll to survey 10,000 U.S. cryptocurrency holders. The findings revealed that 81% are interested in learning more about the future of crypto.

Additionally, one in five American adults already use cryptocurrencies, with 76% of users reporting positive impacts on their lives, including increased financial independence and opportunities for personal growth.

The survey also highlighted diverse applications of cryptocurrencies among users:

▪39% use it for shopping
▪32% have bought, sold, or used NFTs
▪31% send crypto to family

“The opportunity for crypto — especially in the US — is now stronger than ever,” said Brad Garlinghouse, CEO of Ripple, emphasizing the timeliness of the NCA’s mission.

The NCA plans to provide educational resources, including easy-to-understand explainers and real stories from everyday people using crypto, to bridge the knowledge gap and promote responsible usage.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 3-05-25

Good Morning Dinar Recaps,

US SENATE VOTES TO OVERTURN CONTROVERSIAL CRYPTO TAX REPORTING RULE

The resolution now awaits a parallel version to advance in the House which must pass a floor vote before heading to Trump’s desk.

On Wednesday, the U.S. Senate passed a resolution to overturn an Internal Revenue Service rule requiring brokers to report gross proceeds from digital asset sales, delivering a significant victory for President Donald Trump’s administration and crypto industry advocates.

The measure, introduced under the Congressional Review Act, passed in a 70-27 vote, with Republicans largely united against the rule and many Democrats crossing the aisle in support.

It’s “absolutely mind-blowing” how many Democrats were willing to overturn a rule issued in the Biden Administration, Kristin Smith, CEO of the Blockchain Association, a Washington-based crypto lobbying group, told Decrypt.

The resolution now awaits a parallel version to advance in the House which must pass a floor vote before heading to Trump’s desk for final approval.

The IRS rule, finalized in December 2024 during the final weeks of the Biden administration, significantly expanded the definition of a “broker” to include decentralized finance protocols.

Industry critics argued the measure would impose impossible compliance burdens on permissionless financial systems, force DeFi protocols to register as traditional financial brokers, and require all U.S. DeFi users to tie their on-chain addresses to their identities.

"Today marks the first of many historic milestones in the regulation of digital assets in the United States in this next chapter—as we move towards the enactment of the first standalone crypto legislation," a spokesperson for the DeFi Education Fund, another D.C.-based crypto lobbying group told Decrypt.

"The DeFi Education Fund applauds the bipartisan supermajority of Senators who recognized the need to push back against regulatory overreach to protect Americans’ freedom to choose how they transact and American innovation."

The Trump administration formally backed the repeal effort on Tuesday, with David Sacks, Trump’s crypto policy chief, saying the White House “strongly supports” the resolution.

“This rule, issued as a midnight regulation in the final days of the previous administration, would stifle American innovation and raise privacy concerns over the sharing of taxpayers’ personal information, while imposing an unprecedented compliance burden on American DeFi companies,” Sacks said in a statement.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

SEC REPORTEDLY OFFERING $50K INCENTIVE FOR ELIGIBLE STAFF TO RESIGN

The SEC is among other US agencies that have been offering staff financial incentives to quit under Trump’s cost-cutting DOGE initiative.

The United States Securities and Exchange Commission is reportedly offering eligible employees financial incentives to resign or retire from the agency amid an ongoing wave of staffing changes from the regulator.

The US securities regulator is reportedly offering staff $50,000 to resign or retire by April 4, according to a March 4 Bloomberg report citing an email it reviewed.

The email, which described the offer as a “voluntary separation incentive” or “voluntary early retirement program,” was reportedly sent on Feb. 28 by SEC chief operating officer Ken Johnson to all employees.

The deadline to apply for the incentive is March 21, and eligible employees must have been on the agency’s payroll before Jan. 24. They must also voluntarily leave through resignation, transfer to another agency, or retire. They can not return to the SEC within five years. If they do so, they must pay back the incentive in full, the memo states.

The moves come as the Trump administration seeks to slash federal government staff under the Department of Government Efficiency (DOGE), led by Elon Musk.

The department has removed more than 100,000 of the federal government’s 2.3 million workers through a combination of layoffs and buyouts, reported Reuters.

Cointelegraph reached out to the SEC for comment but did not receive an immediate reply.

In early February, it was reported that the SEC was starting to scale back its 50-staff crypto enforcement unit. At the same time, SEC Commissioner Hester Peirce outlined the agency’s new approach to regulating the crypto markets, including evaluating the security status of crypto assets.

The US labor market is in the spotlight this week with key reports on nonfarm employment data, initial jobless claims data and the February Jobs Report due. These reports are considered important economic indicators, as the shift in the number of positions is strongly associated with the overall health of the economy.

Meanwhile, the SEC has dismissed legal action against a number of prominent crypto companies in recent weeks, including Coinbase, Consensys, Robinhood, Gemini, Uniswap and most recently, Kraken.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 3-04-25

Good Evening Dinar Recaps,

BRICS: US TO FORGE TRADE DEAL AS NEW NATION FEARS TARIFF THREAT

Amid the ongoing tensions with the BRICS group, the US is set to forge a new trade deal as a new nation comes forward with concerns over the growing threat of tariffs.

Indeed, since his return to the White House, US President Donald Trump has embraced increased import taxes as an aggressive policy to balance out trade.

The efforts have drawn both criticism and concern from the global market. Specifically, a host of nations have expressed worry that the action could lead to a trade war.

Now, that fear may be leading geopolitical alignment to take place on a global scale.

US to Forge New Trade Agreement as BRICS, Canada, and Mexico Face Tariffs

The BRICS economic alliance and the United States are engaged in a notable faceoff. The latter promised to issue 150% tariffs on the collective, citing its de-dollarization as the reason. In response, the bloc’s 2025 chairmanship holder, Brazil, has continued to lean into the necessity of ditching the greenback in global trade.

Both sides have only encouraged continued concerns regarding geopolitical tensions. Moreover, amid the BRICS confrontation, the US has forged a new trade deal as another nation expresses concern over impending Trump tariff threats. The US President reissued those import taxes on Canada and Mexico after pausing the effort last month.

According to a new report, the United States and the UK are set to iron out the details of a new trade agreement. Specifically, a visit from Prime Minister Keir Starmer has seen both sides commit to the new deal. Its purpose looks to be balancing trade and thus avoiding tariffs on the European nation.

After the meeting, Trump expressed his hopes for a “great trade agreement” with the UK. “We’re going to have a great trade agreement, one way or another,” Starmer said. “We’re going to end up with a very good trade agreement for both countries, and we are working on that as we speak.”

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

SEC AGREES TO DROP LAWSUIT AGAINST CUMBERLAND DRW, SAYS FIRM

The SEC sued Cumberland DRW in October, claiming it operated as an unregistered securities dealer in handling more than $2 billion in crypto assets.

The US Securities and Exchange Commission will dismiss its case against the Chicago-based Cumberland DRW, the crypto trading firm says.

“Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW,” Cumberland wrote in a March 4 X post.

Cumberland said the filing was agreed in principle between Cumberland DRW and SEC staff on Feb. 20 and is currently awaiting the agency’s approval.

It’s the latest crypto-related lawsuit the SEC has agreed to drop. It has previously dropped cases against crypto exchanges Coinbase and Kraken, along with crypto firm Consensys.

The regulator has also recently announced it had dropped its investigation into non-fungible token (NFT) companies Yuga Labs and OpenSea, and crypto exchanges Gemini and Uniswap Labs.

“We look forward to continuing our dialogue with the SEC to help shape a future where technological advancements and regulatory clarity go hand in hand,” Cumberland added.

The SEC sued Cumberland DRW on Oct. 10, alleging a single charge of operating as an unregistered securities dealer for more than $2 billion in crypto assets.

The regulator claimed Cumberland acted as an unregistered dealer since March 2018 by buying and selling crypto it deemed to be securities.

The SEC also claimed that five of the tokens that Cumberland handled were securities, including  POL. SOL, ATOM. ALGO, and FIL.

The agency was seeking permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest and civil penalties.

Cumberland argued it had registered as a dealer-broker in 2019 and was hit with the suit despite engaging in “five years of good-faith discussions” with the SEC, adding it was just “the latest target” of SEC’s “enforcement-first approach to stifling innovation.”

Crypto exchange Coinbase recently filed a request under the Freedom of Information Act (FOIA) to the SEC seeking to discover how much the SEC spent on enforcement action against crypto firms.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 3-04-25

Good Afternoon Dinar Recaps,

GRAYSCALE PURSUES SIXTH ALTCOIN ETF AS NASDAQ SEEKS TO LIST HEDERA FUND

Approving multiple smaller assets for Grayscale's ETFs could help pave the way for an index ETF, a source told Decrypt.

Crypto asset manager Grayscale Investments is pushing forward with its offerings for altcoins, filing for approval of a new spot Hedera (HBAR) exchange-traded fund (ETF) on Monday.

The Nasdaq Stock Market 19b-4 filing to the U.S. Securities and Exchange Commission marks Grayscale’s sixth altcoin-focused ETF.

The SEC, under the leadership of acting chair Mark Uyeda, has already acknowledged and published filings for ETFs linked to altcoins, pointing to a more supportive stance toward altcoin-based investment products under a Trump administration.

“The biggest benefit to having a lot of smaller assets be approved for an ETF would be that it would pave the way for an index ETF,” Katalin Tischhauser, Head of Research at Sygnum Bank, told Decrypt.

A 19b-4 filing is part of a two-step process to propose a crypto ETF to the SEC, and once acknowledged by the agency, the filing will be published in the Federal Register, initiating the SEC's approval process.

Grayscale’s other spot ETF filings include tracking the performance of Polkadot (DOT), XRP, meme coin Dogecoin (DOGE), Cardano (ADA), and Solana (SOL).

Grayscale was one of the first to file to convert its XRP Trust and Dogecoin Trust into ETFs, and the SEC has already acknowledged those filings along with Solana ETF, adding them to the Federal Register.

The filings for the Polkadot and Cardano ETFs are still in the early stages of regulatory review.

The SEC’s review process typically lasts 45 days from the date of publication in the Federal Register, during which time the commission will consider the filings and invite public comments.

Following this period, the SEC can either approve or reject the proposed rule changes or delay its decision, with the entire process potentially stretching to 240 days.

Grayscale is not the first asset manager to pursue a HBAR ETF. Last month, Nasdaq filed a 19b-4 form with the SEC to list a spot HBAR ETF on behalf of Canary Capital.

As of now, the SEC is still in the process of reviewing the application, and no official approval has yet been granted

Still, Bloomberg Senior ETF Analysts Eric Balchunas and James Seyffart have pointed out that both Hedera and Litecoin have “higher odds than others [ETFs] of approval.”

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

AUSTRALIA’S GOVERNMENT HAS NO PLANS TO ESTABLISH A STRATEGIC CRYPTO RESERVE

The Albanese government has no plans to follow the lead of the Trump administration, which has announced plans to stockpile XRP, Solana, Cardano, Ether and Bitcoin.

Australia’s government is not currently considering a strategic crypto reserve, despite US President Donald Trump announcing the effort in the United States just days earlier.  

US President Donald Trump announced on March 2 that the President’s Working Group on Digital Assets was directed to include XRP, Solana, Cardano, Ether and Bitcoin in the crypto strategic reserve.

A swathe of other US states are also considering adding crypto to their balance sheets.

However, it is understood the current ruling party in Australia has no plans to establish a crypto reserve.

A spokesperson for Australian Assistant Treasurer and Financial Services Minister Stephen Jones told Cointelegraph that the government is focused on regulating digital asset platforms.

“The Albanese Government has consulted on our proposed framework to build a fit-for-purpose digital asset regulatory regime, and we continue to work closely with industry,” the spokesperson said.

“The Albanese Government knows that blockchain and digital assets present big opportunities for our economy, our financial sector and innovation.”

A change of government could be on the horizon for Australia, however. Constitutionally, a new federal election must be held on or before May 17, and the latest YouGov poll shows the center-right coalition holding a slight lead over the center-left Labor government, leading 51% to 49%.

A spokesperson for the Coalition did not immediately respond to a request for comment.

Speaking to Cointelegraph, Tom Matthews, head of corporate affairs at Australian crypto exchange Swyftx, said that while the idea for a reserve is popular, it can also be “fraught with complexity,” and if not managed properly creates the potential for concentration risk with some tokens.

“If one of the main goals of your country’s strategic reserve is to hedge against crises, the price volatility of crypto is a problem. It is just difficult to see where the political traction is going to come from,” he said.

Matthews speculates a more likely scenario is the emergence of a long-only sovereign wealth fund that holds crypto.

Kraken’s managing director for Australia, Jonathon Miller, told Cointelegraph that crypto has already firmly established itself as an investment-grade asset, with ETFs on major exchanges, superannuation funds and sovereign wealth funds already invested for quite some time.

“If it’s suitable for them, it’s certainly worth consideration for long-term asset allocators like the Future Fund and even Treasury,” he said.

It comes as regulators in the country have flagged plans to shift focus toward the crypto industry.

Australian Transaction Reports and Analysis Center CEO Brendan Thomas said in December last year the Anti-Money Laundering regulator was shifting its focus to the cryptocurrency industry in 2025 amid a crackdown on crypto ATM providers who might be flouting Anti-Money Laundering laws.

The Australian Securities and Investment Commission released a consultation paper on proposed guidance for crypto in December as well, placing many digital assets under the category of financial products and requiring firms dealing in crypto to be licensed.

The country has also emerged as a hub for Bitcoin and crypto ATMs, with coin ATM Radar data showing it has the third largest number worldwide at over 1,453 ATMs, up from 67 in August 2022.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-04-25

Good Morning Dinar Recaps,

SEC: MEME COINS ARE NOT SECURITIES. MUSK: THEY’RE LIKE A CASINO

Last week, four different views of meme coins were put forward. On Thursday the US Securities and Exchange Commission (SEC) provided staff guidance that meme coins would not be considered securities. SEC Commissioner Caroline Crenshaw dissented.

The following day, Joe Rogan posted an interview with Elon Musk. Rogan thinks meme coin pump and dumps should be regulated, but Musk think’s meme coins are okay provided people treat them as a bit of fun and don’t risk too much.

Unsurprisingly, the Rogan – Musk excerpt is more entertaining.

“The whole meme coin thing is bananas,” observed Rogan. “It is so bananas that people dump real money into these coins and then you could just pump them up and sell them.”

“It’s like a casino or something,” Elon Musk responded, comparing it to “the greater fools theory and musical chairs. Whoever’s the last to sit down loses.”

To which Rogan replied, “And somehow or other it’s still legal”.

“If you expect to win at a casino, you’re being a fool,” answered Musk. “At the risk of saying something bold and outrageous, don’t bet the farm on a meme coin.”

Rogan spoke about pump and dumps, where people often hope they are the one who will dump, but they end up on the losing end. He repeated, “It’s just weird that it’s legal still”.

Musk responded that people lose money at casinos. Rogan’s view is that pump and dumps make meme coins different and observed that you could run “a real pyramid scheme”.

With that context, let’s turn to the SEC’s new guidance on meme coins. By saying most meme coins are not securities, the SEC also conveniently sidesteps a potentially awkward position regarding the $TRUMP meme coin.

The SEC’s position on meme coins

Following the change in administration, the SEC has swiftly dropped many of its outstanding cases and investigations into major crypto firms, where the allegations revolved around classifying most cryptocurrencies as securities (rather than outright fraud). But meme coins are amongst the first pieces of guidance provided.

Here’s the core paragraph on meme coins:

“Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles.”

“Meme coins also typically have limited or no use or functionality. Given the speculative nature of meme coins, they tend to experience significant market price volatility, and often are accompanied by statements regarding their risks and lack of utility, other than for entertainment or other non-functional purposes”

The key legal aspect is whether a meme coin is sold as part of an “investment contract”, the so-called Howey test.

The SEC continued,

“The offer and sale of meme coins does not involve an investment in an enterprise nor is it undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”

It says that the price movement is the function of speculation and “collective sentiment” rather than any efforts of a third party. Again it compares them to collectibles.

That’s not to say there’s a free pass for fraudulent behavior, because the SEC highlights that it’s possible for others, most likely the Department of Justice, to pursue bad actors.

But for now, it certainly seems like it’s a situation of buyer beware.

Commissioner Crenshaw dissents

Democrat Commissioner Crenshaw disagrees. Her concern is that the new meme coin definition put forward by the SEC doesn’t have a foundation in law.

She wrote,

“The lack of a useful definition alone makes the value of this guidance questionable, except perhaps as a roadmap for crypto enterprises looking to evade oversight by labeling themselves as a meme coin.”

Commissioner Crenshaw believes that other crypto issuers will downplay the role of managerial efforts in order to fit into the meme coin classification and escape oversight.

She asserts that most meme coins rely on managerial efforts, whether it’s structuring offerings to limit supply or via buybacks or burning. The Commissioner highlighted the prevalence of manipulation through pump-and-dumps and rug pulls. And she noted that getting a listing on an exchange involves managerial effort.

Apart from meme coins, the Commissioner also has reservations about Crypto 2.0. While she recognizes the intent to provide more guidance on what is or is not a security, she’s concerned that the withdrawal from many cases before providing that guidance raises many questions. These include,

“How can we pursue fraudulent conduct in this space while casting doubt on our regulatory jurisdiction? Are we eroding our ability to police fraudulent Ponzi schemes? Are we poised to give special treatment to crypto assets over traditional assets, or even other emerging assets?”

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUST IN: Trump Nominated For Nobel Peace Prize

President Donald Trump has been nominated for the Nobel Peace Prize, with Rep. Darrell Issa (R-CA) making the announcement on X Monday morning. “Today I will nominate @realDonaldTrump for the Nobel Peace Prize. No one deserves it more,” Issa wrote in a post that quickly gained traction online.

The decision to nominate Trump follows a tense meeting last week in which he reportedly asked Zelenskyy to leave the Oval Office after a fiery exchange over U.S. military aid.

Trump later stated that Zelenskyy had “disrespected” the United States and suggested that Ukraine was using America’s involvement as leverage rather than genuinely seeking peace.

Trump’s nomination for the Nobel Peace Prize will likely serve as a symbolic nod to his non-interventionist stance, particularly as his campaign for a second term continues to emphasize an “America First” approach.

A spokesperson for Issa also highlighted Trump’s endeavors to foster peace in the Middle East. “Congressman Issa recently led a Congressional delegation to four Middle East nations—he observed first-hand and from several heads of state that the spirit of peace and moving away from conflict is real and multilateral,” said Jonathan Wilcox, Issa’s deputy chief of staff and communications director, in remarks to The Hill.

Wilcox added, “From the time of his election and after being sworn in, President Trump has inspired and promoted the cause of peace—and in a way we have not heard in many years.

His advocacy is an aspiration of a world without war, and we are seeing this come into focus in several regions of the world today – not just one.”

Rep. Issa isn’t the only one who feels this way. Secretary of State Marco Rubio robustly supported President Trump’s strategy for brokering a peace agreement between Ukraine and Russia during a Sunday interview.

Rubio, speaking on ABC News’s “This Week,” suggested that if Trump were a Democrat, his efforts would likely receive widespread acclaim.

Amid a heated discussion with host George Stephanopoulos, Rubio said, “Shouldn’t we all be happy that we have a president who’s trying to stop wars and prevent them instead of start them?”

“I just don’t get it. I really don’t, other than the fact that it’s Donald J. Trump,” Rubio said. “If this was a Democrat that was doing this, everyone would be saying, ‘Well, he’s on his way to the Nobel Peace Prize.’ This is absurd.”

“We are trying to end a war,” Rubio explained. “You cannot end a war unless both sides come to the table, starting with the Russians. And that, that is the point the president has made. And we have to do whatever we can to try to bring them to the table to see if it’s even possible.”

Trump has been nominated for the Nobel Peace Prize multiple times. In 2018, Norwegian Parliament member Christian Tybring-Gjedde nominated Trump for his role in facilitating peace talks between North and South Korea.

Two years later, in 2020, Tybring-Gjedde again put Trump’s name forward, this time citing his efforts in brokering the Abraham Accords, which normalized diplomatic relations between Israel and the United Arab Emirates.

In 2021, Laura Huhtasaari, a member of Finland’s Parliament, also nominated Trump, recognizing his efforts to end prolonged conflicts and promote dialogue. Most recently, in 2024, U.S. Congresswoman Claudia Tenney nominated Trump for his role in expanding the Abraham Accords, which facilitated diplomatic agreements between Israel, Bahrain, Morocco, Sudan, and the United Arab Emirates.

The most recent U.S. president to win the Nobel Peace Prize was Barack Obama in 2009.

@ Newshounds News™

Source:  Trending Politics News

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COINBASE DEMANDS SEC REVEAL US TAXPAYER COST OF GARY GENSLER’S AGGRESSIVE CRYPTO ENFORCEMENT

Coinbase questions SEC's spending on crypto oversight as it seeks transparency through FOIA.

Coinbase is requesting a record of how much the Securities and Exchange Commission spent on enforcement actions under former Chair Gary Gensler.

Chief Legal Officer Paul Grewal shared that the company submitted a Freedom of Information Act request seeking data on employee hours, contractor expenses, and other line items tied to what he described as the SEC’s “war on crypto.”

His statements pointed to investigations of Coinbase, Gemini, and other companies, along with the broader impact on Americans’ jobs and technological competitiveness.

Grewal stated,

“We know the previous @SECgov’s regulation-by-enforcement approach cost Americans innovation, global leadership, and jobs, but how much did it cost in taxpayer dollars?”

The FOIA filing asks for documents detailing the number of enforcement actions launched against digital asset entities, the associated costs of those efforts, and the staffing resources allocated to them.

Coinbase also wants information on the unit previously called the “Crypto Assets and Cyber Unit,” requesting clarity on that group’s budget, staff headcount, and total compensation. 

According to Grewal, the intention is to reveal how taxpayer funds were used to support what he characterizes as aggressive oversight without formal rulemaking.

The SEC’s strategy under Gensler frequently relied on enforcement actions instead of newly drafted regulations, prompting pushback from several crypto firms. Coinbase’s request comes after the agency dropped its lawsuit against the exchange in late February, citing a broader pivot in its regulatory approach.

Grewal further noted that the company would continue pursuing greater transparency, suggesting that any forthcoming documents could expose the extent to which enforcement-based tactics shaped policy decisions.

Grewal emphasized Coinbase’s commitment to this issue, stating:

“We’ll never stop fighting for government transparency on behalf of our customers and this industry. It may take time to get the full picture, but I think we’ve shown that we will do what it takes for as long as it takes.”

Gemini’s Winklevoss twins have also criticized the SEC’s approach, pointing to legal fees when that agency dropped its investigation into their platform. Coinbase’s filing signals a broader demand for accountability following similar calls from other industry participants.

The 17-point FOIA request may provide unprecedented visibility into the SEC’s internal allocation of resources toward crypto enforcement during a contentious period for the industry.

The SEC’s recent shift includes dismissing some cases against crypto firms and declaring memecoins are not securities while forming a new task force to establish more explicit guidance. Coinbase’s FOIA submission indicates that clarity alone may not resolve existing grievances if the costs incurred remain obscured.

Grewal emphasized that the exchange is prepared to wait through the entire FOIA process to secure the data it believes could help the public understand how government resources were allocated when the SEC targeted digital asset businesses.

@ Newshounds News™

Source:  CryptoSlate

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