Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 4-30-25
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COINBASE URGES SUPREME COURT TO WEIGH IN OVER IRS'S ACCESS TO CUSTOMER DATA
▪️Coinbase said the Supreme Court should clarify the third-party doctrine, which says that people who give information to third parties, such as banks, should not have an expectation of privacy.
▪️Others have filed amicus briefs, including billionaire Elon Musk, the Cato Institute, and the DeFi Education Fund.
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COINBASE URGES SUPREME COURT TO WEIGH IN OVER IRS'S ACCESS TO CUSTOMER DATA
▪️Coinbase said the Supreme Court should clarify the third-party doctrine, which says that people who give information to third parties, such as banks, should not have an expectation of privacy.
▪️Others have filed amicus briefs, including billionaire Elon Musk, the Cato Institute, and the DeFi Education Fund.
Coinbase urged the U.S. Supreme Court to consider a case involving the Internal Revenue Service that it says "sets a dangerous precedent" surrounding customers' personal data.
The crypto exchange said the Supreme Court should clarify the third-party doctrine, which says that people who give information to third parties, such as banks, should not have an expectation of privacy.
"This Court’s guidance is especially important here because this case involves a new technology—blockchain— that is particularly susceptible to surveillance abuse," the firm said in an amicus brief filed on Wednesday with the Supreme Court.
The IRS demanded records from Coinbase almost a decade ago from thousands of its customers, including information involving security settings, transactions, and correspondence. The company pushed back, but a district court later said Coinbase had to comply, but narrowed the IRS's search according to the filing.
In 2020, petitioner James Harper, a Coinbase customer, filed a suit against the IRS for its role in the alleged unlawful seizure of information that identified him as a crypto holder.
Now it's up to the Supreme Court to decide if it wants to take Harper's case up. Others have filed amicus briefs, including billionaire Elon Musk, the Cato Institute, and the DeFi Education Fund.
Coinbase Chief Legal Officer Paul Grewal said the company supports complying with tax rules, but said the IRS went too far.
"We believe in tax compliance, but this goes far beyond a narrow and tailored request and far beyond crypto," Grewal said Wednesday in a post on X. "This applies to banks, phone companies, ISPs, email, you name it. As we explain here, you should have the same right to privacy for your inbox or account as you have for a letter in your mailbox."
@ Newshounds News™
Source: The Block
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ZIMBABWE REINTRODUCES GOLD COINS SALE TO STRENGTHEN CURRENCY RESERVES
https://goldseek.com/article/zimbabwe-reintroduces-gold-coins-sale-strengthen-currency-reserves
As gold prices skyrocket, the Reserve Bank of Zimbabwe (RBZ) has resumed issuing gold coins.
The central bank introduced the coins in June 2022. The program was touted as a way for investors to store value in the face of rampant inflation. At the time, a Zimbabwean brokerage firm analyst told Al Jazeera that the coin was a “welcome development.”
“For a long time, the market did not have many investment options, and this is a new asset class. The thinking was inspired by the need to come up with an instrument that addresses the inflation problems in the economy, where purchasing power has been eroded. From what we are gathering, this is going to be a store value.”
He went on to say that the fundamentals of gold help it hedge against inflation and geopolitical risk, and that the gold coins would open the gold market to “ordinary investors.”
The RBZ suspended the sale of the coins 10 months ago, but they are now being reintroduced through local banks.
Fidelity Gold Refineries (Private) Limited mints the 22-carat "Mosi-Oa-Tunya" coin. It is available in various sizes, ranging from 1/10 ounce to 1 ounce.
The Zimbabwe central bank owns Fidelity Gold Refineries (Private) Limited, and it operates as the only gold-buying and refining entity in the country.
RBZ monetary policy committee member Persistence Gwanyanya told Bloomberg that the reintroduction of the gold coins comes at a time when “gold is more attractive to the market,” and that the move “supports our value preservation efforts.”
“We are taking advantage of firm gold prices and re-injecting the gold coins into the market.”
According to the Bloomberg article, the hope is that resuming gold coin sales will “ramp up the bullion stockpile used to back up the local currency, the ZiG.”
You might be wondering how selling gold increases a bullion stockpile.
The answer is it doesn't. Bloomberg seems to be oversimplifying a monetary policy scheme that will increase the reserves backing the ZiG, but won't increase the country's gold reserves specifically.
@ Newshounds News™
Source: GoldSeek
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A New Gold Standard, Evidence and Path to $10,000 Gold Intensifies
A New Gold Standard, Evidence and Path to $10,000 Gold Intensifies
Mike Maloney: 4-29-2025
The global economic landscape is constantly shifting, but recent murmurings suggest a seismic change could be on the horizon: a return to a gold-backed monetary system.
In a provocative new discussion, economist and precious metals expert Mike Maloney presents compelling evidence suggesting this shift is not only possible, but increasingly likely.
A New Gold Standard, Evidence and Path to $10,000 Gold Intensifies
Mike Maloney: 4-29-2025
The global economic landscape is constantly shifting, but recent murmurings suggest a seismic change could be on the horizon: a return to a gold-backed monetary system.
In a provocative new discussion, economist and precious metals expert Mike Maloney presents compelling evidence suggesting this shift is not only possible, but increasingly likely.
This potential reordering of the global financial system could have profound implications for everyone, making it crucial to understand the driving forces behind it.
Maloney’s analysis points to several key indicators, starting with potentially unexpected sources. He highlights documented instances of Donald Trump advocating for gold-centric economic strategies, suggesting a possible long-term vision for a gold-backed dollar.
While this idea might seem radical to some, Maloney argues it aligns with a growing sentiment among certain economic circles.
Beyond political rhetoric, Maloney delves into what he perceives as crucial “behind-the-scenes” maneuvers. He suggests the U.S. Treasury, along with global elites, are quietly preparing for a significant change to the monetary system. While concrete proof remains elusive, the implications of such preparations are significant.
One of the strongest arguments for a potential return to gold lies in the surging global flows of the precious metal. Nations are increasingly stockpiling gold reserves, a trend that historically signifies a move away from reliance on fiat currencies.
This accumulation can be seen as a hedge against economic uncertainty and a preparation for a world where gold plays a more central role in monetary stability.
Further fueling the speculation is the activity surrounding COMEX, the world’s largest commodity futures exchange. Maloney argues that preparations within COMEX point to an awareness of a potential financial crisis and a need to manage a surge in demand for physical gold.
This heightened activity, coupled with historical precedent, paints a picture of a system bracing for a significant disruption.
History provides valuable lessons in understanding these trends. Throughout history, periods of economic instability have often led to a renewed interest in gold as a store of value.
As fiat currencies fluctuate and lose purchasing power, the tangible nature and inherent value of gold become increasingly attractive.
Maloney uses historical examples to illustrate the potential pitfalls of relying solely on fiat currencies and the stabilizing role gold can play in a turbulent economy.
So, what does all this mean for the average individual? Maloney suggests that a return to a gold-backed monetary system could trigger a massive wealth transfer.
Those who are prepared and positioned to understand the transition could potentially benefit significantly, while those who are unprepared risk being left behind.
Ultimately, the question remains: will we witness a return to a gold-backed monetary system?
While definitive answers are impossible to provide, the evidence presented by Maloney and others suggests that the possibility is far from negligible. Understanding these trends, analyzing the data, and taking proactive steps to protect your financial future could be crucial in navigating the potential economic shifts ahead.
It’s time to consider: will you be positioned for what could be the greatest wealth transfer of our lifetime?
Seeds of Wisdom RV and Economic Updates Wednesday Morning 4-30-25
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BRICS: INDIA SEEKS TO BE A MAJOR REPLACEMENT SUPPLIER TO THE US IN TRADE
India hopes to establish a new deal with the US on trade quickly, as the country seeks to become a major replacement supplier in areas vacated by China in trade.
New Delhi says its prepared to include a sweetener in trade talks with the US that would “future-proof” a deal by ensuring no other trade partners could have superior terms. “This clause, in a sense, future-proofs the U.S. deal and is the only way to do so,” one of the officials said.
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BRICS: INDIA SEEKS TO BE A MAJOR REPLACEMENT SUPPLIER TO THE US IN TRADE
India hopes to establish a new deal with the US on trade quickly, as the country seeks to become a major replacement supplier in areas vacated by China in trade.
New Delhi says its prepared to include a sweetener in trade talks with the US that would “future-proof” a deal by ensuring no other trade partners could have superior terms. “This clause, in a sense, future-proofs the U.S. deal and is the only way to do so,” one of the officials said.
Indian government officials are pushing for the deal to be accepted by the Trump Administration as soon as possible. Despite the tensions between the nation and the BRICS alliance, the US and India have been in revised trade talks for months.
The potential US-India trade deal represents a significant step forward in bilateral economic relations between the two nations. Secretary Bessent’s statements this week and India’s latest proposal suggest that negotiators have already made substantial progress in these ongoing discussions.
Right now, the US actively pursues trade agreements with several Asian nations as well. The Treasury Secretary provided some additional insight into these diplomatic efforts during his recent CNBC interview on Monday. Bessent stated: “The U.S. had also held very substantial negotiations with Japan, and discussions with other Asian trading partners were going well.”
India has already made several offers and pre-emptive concessions to the U.S. on trade, showing itself more eager than several other big U.S. trading partners. Unlike China, Canada, and the European Union, India has been very supportive of the Trump administration and has established a solid partnership. Furthermore, the country also wants to avoid the proposed 26% tariff on itself from the US.
@ Newshounds News™
Source: Watcher Guru
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EU SECURITIES WATCHDOG ESMA ISSUES GUIDELINES TO COMBAT MARKET ABUSE IN CRYPTO ASSETS UNDER MICA
On April 29, 2025, the European Securities and Markets Authority (ESMA) published guidelines to enhance supervisory practices for preventing and detecting market abuse in crypto assets under the Markets in Crypto Assets Regulation (MiCA).
Tailored for National Competent Authorities (NCAs), the guidelines draw on ESMA’s experience with the Market Abuse Regulation (MAR) and address the unique aspects of crypto trading, such as its cross-border nature and heavy reliance on social media.
They emphasize risk-based, proportionate supervision and aim to foster a unified supervisory culture through industry dialogue and NCA collaboration.
The guidelines will be translated into all EU languages, take effect three months after publication, and require NCAs to confirm compliance within two months, though ESMA encourages immediate adoption of the principles.
@ Newshounds News™
Source: Bitcoin News
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🇪🇺 LATEST: Europe's second largest neobank, Bunq partners with Kraken to offer crypto trading services for its banking app users in six European countries starting April 29.
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Source: @Cointelegraph on Telegram
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Seeds of Wisdom RV and Economic Updates Tuesday Evening 4-29-25
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HISTORIC: AI WILL BEGIN DEVELOPING LAWS IN THE UAE
The government of the UAE has launched what it calls the first AI-based legislative system, allowing synthetic agents to develop laws and monitor their effects through big data analysis.
UAE Enables AI Interaction in Lawmaking With New Smart Legislative System
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HISTORIC: AI WILL BEGIN DEVELOPING LAWS IN THE UAE
The government of the UAE has launched what it calls the first AI-based legislative system, allowing synthetic agents to develop laws and monitor their effects through big data analysis.
UAE Enables AI Interaction in Lawmaking With New Smart Legislative System
Artificial Intelligence (AI) has begun to penetrate all aspects of human life, and governance is next. On April 14, the government of the United Arab Emirates (UAE) approved the implementation of what the media is calling the first AI-powered legislative system, paving the way for the proposal of law projects with significant synthetic participation.
The system will link all judicial rulings to their established jurisdictions, creating a map that connects these rulings with AI elements. As a participant in this system, the AI will be able to monitor these developments and study the effects of regulations in each jurisdiction with the help of this map.
Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and a member of the cabinet that approved this development, expects AI to significantly improve the legislative process in the UAE.
In this regard, he stated:
"The new AI-based legislation system will create a qualitative shift in the legislative cycle, its speed, and its accuracy, ensuring our national legislative excellence and keeping our laws in line with best practices and the highest aspirations."
Al Maktoum also highlighted that the system will be able to propose legislative amendments on an ongoing basis, supported by the analysis of their effects using big data and statistics. Official reports stated that the expectation is for this tool to enhance the efficiency of the legislative process and accelerate the legislative issuance cycle by up to 70%.
This new approach to legislation will also create new roles for AI agents, such as legislative researchers, legislative editors, and legislative monitors.
However, neither the technical details of the implementation nor the models to be used for this system were specified by UAE authorities.
@ Newshounds News™
Source: Bitcoin
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US SENATE MAJORITY LEADER EXPECTS STABLECOIN VOTE BEFORE MAY 26 — REPORT
Lawmakers in the US Senate will reportedly move forward with a vote on the GENIUS stablecoin bill before the Memorial Day holiday.
US Senate Majority Leader John Thune reportedly told Republican lawmakers that the chamber would address a bill on stablecoin regulation before the May 26 Memorial Day holiday.
According to an April 29 Politico report, Thune made the comments in a closed-door meeting with Republican senators, who hold a slim majority in the chamber.
The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, was introduced by Senator Bill Hagerty in February and passed the Senate Banking Committee in March.
Thune did not mention any crypto or blockchain-related bills in his public comments on US President Donald Trump’s first 100 days in office. Since his Jan. 20 inauguration, Trump has signed several executive orders with the potential to affect US crypto policy, including one affecting stablecoins. Still, many of the actions do not carry the force of law without an act of Congress.
The proposed GENIUS bill could essentially restrict any entity other than a “permitted payment stablecoin issuer” from issuing a payment stablecoin in the United States.
The House of Representatives, also controlled by Republicans, has proposed a companion bill to the legislation: the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act.
Trump accused of conflicts of interest over stablecoins, crypto ventures
The president’s executive order, signed on Jan. 23, established a working group to study the potential creation and maintenance of a national crypto stockpile and a regulatory framework for stablecoins. Republican lawmakers followed by introducing the STABLE and GENIUS acts.
Trump also introduced the order before World Liberty Financial, a crypto firm backed by the president’s family, launched its US-dollar pegged USD1 stablecoin.
Many Democratic lawmakers said that Trump’s ties to the firm, coupled with his political influence and position, could present an “extraordinary conflict of interest that could create unprecedented risks to our financial system” as Congress considers the two stablecoin bills.
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Source: CoinTelegraph
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Economist’s “News and Views” 4-29-2025
A New Gold Standard: Evidence & Path to $10,000 Gold Intensifies | Mike Maloney
4-29-2025
A seismic shift in the global economy is underway. In this eye-opening video, Mike Maloney reveals new evidence pointing to an imminent return to a gold-backed monetary system.
From Donald Trump's gold-centric strategies to behind-the-scenes maneuvers by the U.S. Treasury and global elites, this is the clearest sign yet of a massive financial reordering.
Learn why global gold flows are surging, how COMEX is preparing for a potential crisis, and what history teaches us about the coming monetary reset.
A New Gold Standard: Evidence & Path to $10,000 Gold Intensifies | Mike Maloney
4-29-2025
A seismic shift in the global economy is underway. In this eye-opening video, Mike Maloney reveals new evidence pointing to an imminent return to a gold-backed monetary system.
From Donald Trump's gold-centric strategies to behind-the-scenes maneuvers by the U.S. Treasury and global elites, this is the clearest sign yet of a massive financial reordering.
Learn why global gold flows are surging, how COMEX is preparing for a potential crisis, and what history teaches us about the coming monetary reset.
Will you be positioned for the greatest wealth transfer of our lifetime?
Gold Is Replacing The US Dollar | Michael Pento
Liberty and Finance: 4-28-2025
Michael Pento argues that the stock market remains overvalued despite clear signs of economic distress.
He warns that inflation and supply shortages pose serious threats, while the real estate market is weakening under the pressure of rising mortgage rates and growing inventory.
Pento emphasizes that both retail and institutional investors often react emotionally and irrationally, especially during downturns.
Notably, he states that gold is beginning to supplant the U.S. dollar as the world reserve currency, reflecting a loss of confidence in American monetary policy.
Given the Federal Reserve’s limited ability to stabilize the economy, Pento advocates for proactive and strategic investing in a market that may not follow historical recovery patterns.
INTERVIEW TIMELINE:
0:00 Intro
1:25 Stock market
6:00 Real estate market
15:30 Treasury bond demand
19:00 Recession
23:00 Tariffs
This Signal 'Front-Running' Global Depression: Repeat of 1929? | Mike McGlone
David Lin: 4-29-2025
Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, examines the indicators suggesting an impending global recession, arguing that gold outperformance versus silver signals economic contraction while predicting continued stock market weakness and potential deflation despite short-term inflationary pressures from tariffs.
0:00 – Intro.
1:02 – Inflation expectations
3:05 – Tariff impact
8:21 – Market indicators
12:34 – Phillips Curve breakdown
14:11 – Gold/silver cross
18:26 – Metals forecast
20:51 – Front-running recession
24:34 – Gold/Bitcoin
28:20 – Bullish assets
30:22 – Bitcoin
34:10 – DXY and Oil
Seeds of Wisdom RV and Economic Updates Tuesday afternoon 4-29-25
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VISA, STRIPE, AND MASTERCARD DRIVE STABLECOIN GROWTH IN 2025
▪️Stablecoins are transitioning from a crypto niche to a significant force in global finance.
▪️Major financial firms like Visa, Mastercard, and Stripe are actively integrating stablecoin technology.
▪️Stablecoin transaction volumes now surpass Visa's, indicating rapid mainstream adoption.
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VISA, STRIPE, AND MASTERCARD DRIVE STABLECOIN GROWTH IN 2025
▪️Stablecoins are transitioning from a crypto niche to a significant force in global finance.
▪️Major financial firms like Visa, Mastercard, and Stripe are actively integrating stablecoin technology.
▪️Stablecoin transaction volumes now surpass Visa's, indicating rapid mainstream adoption.
Stripe Embrace Stablecoins
There’s no denying the shift – traditional finance is embracing stablecoins. Visa has launched its Tokenized Asset Platform to help manage stablecoins and tokenized deposits. Stripe, meanwhile, is testing stablecoin payments to make it easier for businesses outside the US and EU to access US dollars.
Mastercard has introduced features that allow consumers to spend in stablecoins and merchants to receive payments in these digital currencies worldwide.
Stablecoin Market Overview
The stablecoin market is booming, with a total market cap of $243.1 billion, according to Coingecko. Tether (USDT), USDC, and USDS lead the charge, with market caps of $148 billion, $62 billion, and $7.6 billion, respectively. In terms of transaction volume, Tether dominates with over $51 billion, followed by USDC with $11 billion.
Stablecoin Transaction Volume Surpasses Visa
In an impressive shift, stablecoins now process more transactions on a weekly basis than Visa. This signals their growing influence in the global financial system and suggests they’re quickly becoming a mainstream financial tool that challenges traditional payment networks.
The Future of Stablecoins: What’s Next?
Billionaire investor Chamath Palihapitiya predicts that the stablecoin sector will see significant growth throughout 2025, with US dollar-backed stablecoins emerging as the biggest winners. He believes these stablecoins will become a core component of the global financial system, further solidifying their position in the market.
@ Newshounds News™
Source: Coinpedia
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CIRCLE SECURES USDC REGULATORY NOD IN ABU DHABI, ENTERS TECH ECOSYSTEM
Circle's FSRA approval in Abu Dhabi sets stage for significant USDC expansion across the Middle East and Africa.
Circle, the issuer of the USDC stablecoin, has secured initial approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi.
The approval, announced on April 29, allows Circle to move closer to receiving a full Financial Services Permission (FSP) to operate within the Abu Dhabi Global Market (ADGM).
This progress comes just months after Circle’s incorporation in ADGM in December 2024. It marks a significant step in the stablecoin issuer’s plan to offer compliant financial services across the Middle East and Africa (MEA).
Circle stated that the approval strengthens its position as a trusted player in the expanding world of regulated digital finance.
The firm continued that the move would allow it to expand the reach of USDC, the second-largest US dollar-pegged stablecoin by market capitalization, throughout the Middle East.
According to the firm, this would significantly boost USDC’s adoption in a region increasingly turning toward digital assets and adequately compete against Tether’s USDT, the largest stablecoin by market cap.
Circle’s CEO, Jeremy Allaire, said:
“[This creates] new pathways for investment and innovation in the region. It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”
Collaboration with Hub71 to boost innovation
Beyond its regulatory success, Circle has partnered with Hub71, Abu Dhabi’s leading global tech ecosystem.
This partnership is focused on promoting digital asset innovation and strengthening the region’s fintech infrastructure.
Circle will work with Hub71 to tap into ADGM’s digital regulatory sandbox, a framework designed to test and support new financial technologies. The collaboration will give fintech founders access to grants, funding networks, and opportunities to scale their businesses.
Additionally, Circle will become part of Hub71’s Digital Assets Specialist ecosystem. This growing community includes more than 500 tech startups and venture capital partners.
Ahmad Ali Alwan, CEO of Hub71, said:
“Circle’s expertise will enrich our digital assets ecosystem, providing Hub71 founders with greater access to resources, mentorship, and growth opportunities. Through this partnership, we are enabling the adoption of leading digital financial infrastructure that supports startup growth and drives the evolution of Web3 and digital finance from Abu Dhabi.”
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Source: CryptoSlate
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Seeds of Wisdom RV and Economic Updates Tuesday Morning 4-29-25
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CARDANO LACE WALLET INTEGRATES BITCOIN, BOOSTING CROSS-CHAIN CAPABILITIES
▪️Charles Hoskinson announced on Monday that Bitcoin integrates into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities.
▪️This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
▪️The news failed to move Cardano’s price significantly, but suggests a positive outlook for ADA.
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CARDANO LACE WALLET INTEGRATES BITCOIN, BOOSTING CROSS-CHAIN CAPABILITIES
▪️Charles Hoskinson announced on Monday that Bitcoin integrates into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities.
▪️This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
▪️The news failed to move Cardano’s price significantly, but suggests a positive outlook for ADA.
Cardano (ADA) co-founder Charles Hoskinson announced Monday that Bitcoin (BTC) is integrated into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities. This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
The news failed to move Cardano’s price significantly, with ADA trading in a narrow range near $0.70 at the time of writing on Tuesday, but it suggests a positive outlook for the token.
Cardano’s co-founder welcomes Bitcoin
On Monday, Charles Hoskinson announced on his X post that Bitcoin is integrated into the Lace Wallet, a non-custodial wallet platform developed by Input Output Global (IOG), one of the key organizations behind the Cardano blockchain. Lace allows users to send, receive, and stake Cardano’s native cryptocurrency, ADA, and manage other digital assets on the network.
“With this release, Lace becomes even more accessible and versatile, introducing Firefox support, the beta rollout of Bitcoin, and several performance improvements under the hood,” says Lace in its blog post.
This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality. However, this news did not significantly impact Cardano’s price on Monday; nonetheless, it suggests a positive outlook for the long term as it expands Cardano’s ecosystem, enhances its cross-chain capabilities, and boosts wider adoption.
Cardano's technical outlook suggests a rally if it closes above $0.74
Cardano price is facing resistance around its 200-day Exponential Moving Average (EMA) at $0.71 since last week and declined to find support at the 61.8% Fibonacci retracement (drawn from the August 5 low of $0.27 to the December 3 high of $1.32) at $0.66 on Monday. At the time of writing on Tuesday, ADA hovers around the 200-day EMA at $0.71.
If ADA breaks above the 200-day EMA and closes above its weekly resistance level at $0.74, it could extend the rally to retest its next daily resistance at $0.80.
The Relative Strength Index (RSI) stands at 59, indicating bullish momentum, as it is positioned above its neutral level of 50. The Moving Average Convergence Divergence (MACD) also exhibited a bullish crossover last week, providing a buy signal and indicating a potential continuation of the upward trend.
However, if ADA’s daily candlestick closes below the 61.8% Fibonacci level at $0.66, it could extend the decline to retest its April 22 low of $0.61.
@ Newshounds News™
Source: FX Street
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SOUTH KOREA'S RULING PARTY VOWS TO APPROVE SPOT CRYPTO ETFS, SCRAP KEY BANKING RULE
South Korea’s People Power Party has pledged crypto reforms, including ETF approval and banking rule repeal, ahead of the June election.
▪️South Korea’s People Power Party has pledged to approve spot crypto ETFs and scrap South Korea’s "one exchange, one bank" rule if they win.
▪️The party’s crypto agenda includes corporate crypto trading, stablecoin regulation, and a new Virtual Asset Special Committee this year.
▪️The election outcome could decide the fate of reforms, with opposition leader Lee Jae-myung leading in the polls ahead of the June 3 vote.
South Korea’s People Power Party has vowed to approve spot crypto ETFs, dismantle a major banking restriction, and overhaul digital asset laws before the end of the year, local media reported Monday.
The party revealed its digital asset pledge just weeks after the country’s impeached president, Yoon Suk Yeol, was removed from office for illegally imposing martial law, a political shock that has formed the basis for a fiercely contested snap election on June 3.
The PPP’s proposals include abolishing the "one exchange, one bank" rule, which restricts crypto exchanges to a single banking partner —a regulation blamed for entrenching monopolies and limiting consumer choice.
"It is very restrictive not to be able to trade virtual assets through the bank of your choice," Rep. Park Soo-min said on Monday during the emergency response committee meeting held at the National Assembly.
The PPP has also pledged to legalize spot crypto ETFs within the year. Park stressed the urgency of approval, pointing to the U.S. Securities and Exchange Commission’s (SEC) decision to greenlight spot Bitcoin ETFs last January.
In addition, the party said in its agenda that it would also institutionalize corporate and institutional investor participation in the crypto market within this year.
If PPP wins, starting in Q2, non-profits can engage in crypto trading, with broader participation from around 3,500 corporations and investment firms.
‘Golden standard’
During the committee meeting, Rep. Choi Bo-yoon said that PPP also plans to introduce a "global standard" regulatory system for stablecoins, local media reported.
To oversee the implementation of its digital asset agenda, the party seeks to establish a Virtual Asset Special Committee directly under the presidential office.
The PPP has vowed to enact the Framework Act on the Promotion of Digital Assets, which would subdivide exchange operations, create listing regulations, and introduce a disclosure system for digital asset transactions.
The party’s push aligns with a global shift toward crypto deregulation, triggered by U.S. President Donald Trump’s moves to repeal DeFi broker reporting rules, authorize the creation of a national Bitcoin stockpile, and place crypto as a core element of American financial policy.
Invoking Trump-era deregulation, PPP presidential candidate Hong Joon-pyo recently vowed to “eliminate regulations as much as the Trump administration did” and pledged to expand blockchain applications across South Korean public services.
Still, whether the PPP’s agenda can move forward will depend on the election outcome.
Democratic Party candidate Lee Jae-myung has campaigned on restoring democratic norms and stabilizing the economy, but has offered few specifics about his stance on regulating digital assets.
Current polling shows Lee, who narrowly lost the 2022 race, now holding a commanding lead over his rivals, according to local media.
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Source: Decrypt
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Seeds of Wisdom RV and Economic Updates Monday Evening 4-28-25
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ARIZONA LEGISLATURE PASSES BITCOIN RESERVE BILL, SENDS IT TO GOVERNOR’S DESK: BLOOMBERG GOVERNMENT
▪️The bill, called the Arizona Strategic Bitcoin Reserve Act, was passed on Monday by Arizona’s state legislature, Bloomberg Government reported.
▪️If signed by Democratic Governor Katie Hobbs, the state would be the first to require public funds to invest in bitcoin.
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ARIZONA LEGISLATURE PASSES BITCOIN RESERVE BILL, SENDS IT TO GOVERNOR’S DESK: BLOOMBERG GOVERNMENT
▪️The bill, called the Arizona Strategic Bitcoin Reserve Act, was passed on Monday by Arizona’s state legislature, Bloomberg Government reported.
▪️If signed by Democratic Governor Katie Hobbs, the state would be the first to require public funds to invest in bitcoin.
Lawmakers in Arizona have passed a bill allowing the state treasurer and retirement system to invest up to 10% of available funds in digital assets, specifically bitcoin, sending it to the governor’s desk for approval, according to Bloomberg Government.
The bill, called the Arizona Strategic Bitcoin Reserve Act, passed Monday in the state legislature, Bloomberg Government reported.
"This bill represents an emerging approach by a state government to integrate cryptocurrency into public financial management, reflecting the growing mainstream acceptance of digital assets," according to the bill text's summary.
The bill's cosponsors are both Republicans: Sen. Wendy Rogers and Rep. Jeff Weninger. If signed by Democratic Governor Katie Hobbs, the state would be the first to require public funds to invest in Bitcoin.
Several states, including Iowa, Missouri, and Texas, are weighing whether to establish a strategic bitcoin reserve. At the federal level, President Donald Trump signed an executive order in March establishing a strategic bitcoin reserve and digital asset stockpile.
Some asset managers have weighed in on how much bitcoin investors should hold. BlackRock recommended in December allocating 1% to 2% of a portfolio to bitcoin, according to Business Insider. Fidelity has suggested a slightly higher range, recommending 2% to 5%.
@ Newshounds News™
Source: The Block
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CONGRESS STRUGGLES TO MEET TRUMP’S AUGUST DEADLINE FOR U.S. CRYPTO REGULATION
▪️Congress accelerates efforts to finalize U.S. crypto legislation before President Trump’s August deadline.
▪️Lawmakers push for market structure and stablecoin bills as industry calls for action on DOJ prosecution.
▪️The crypto industry urges intervention from Trump’s Crypto Czar as legal battles over developer accountability heat up.
As lawmakers return to Capitol Hill after a two-week recess, crypto legislation is at the top of their agenda. With just three months left before President Trump’s August deadline, Congress has a lot of work ahead to craft laws that could define the future of digital assets in America.
Eleanor Terrett took to X to give a *spicy* update on everything that’s brewing.
Crypto Legislation: The Countdown Begins
Lawmakers are hard at work to push through two key bills: the market structure and stablecoin regulations. With little time left before the August deadline, there’s not much room for error. And let’s be honest, it was about time.
Last Friday, the House Financial Services Committee scheduled a joint hearing with the House Agriculture Committee for May 6, titled “American Innovation and the Future of Digital Assets.”
It’s clear that Congress is aiming for a forward-thinking approach.But can they pull it off in time? That’s the million-dollar question.
House Financial Services Committee Chairman French Hill (R-AR) shared that a discussion draft of the new legislation is expected soon. This draft is an updated version of last year’s FIT21 market structure bill. Meanwhile, Senate staffers are working on their own version, incorporating elements from both the 2022 Lummis-Gillibrand Responsible Financial Innovation Act and the FIT21 bill.
Industry Leaders Step Up: DOJ, It’s Time to Listen
While Congress scrambles, the crypto industry is raising its voice.
A petition led by the DeFi Education Fund, along with key industry leaders, has been launched urging President Trump’s Crypto and AI Czar, David Sacks, to intervene in the Department of Justice’s prosecution of Tornado Cash co-founder Roman Storm.
The petition argues that developers shouldn’t be criminally liable for how bad actors use their code, especially when they have no control over it. The legal theory behind the prosecution has the potential to seriously impact innovation.
If lawmakers want to ensure the growth of the crypto ecosystem, this issue needs immediate attention.
What’s Next for Crypto?
With Congress hustling to meet the August deadline and the industry pushing for reform, we’re in for a wild few months.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
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Bizarrely, Gold Is The Opposite Of The Bitcoin Effect Right Now
Bizarrely, Gold Is The Opposite Of The Bitcoin Effect Right Now
Notes From the Field By James Hickman (Simon Black) April 28, 2025
You’ve probably heard the story.
As the legend goes, on a late-summer morning in 1929, Joseph Kennedy — patriarch of the famous Kennedy family — was headed into his office in downtown New York City. As he sat for a quick shoe shine, the young boy buffing his shoes, barely a teenager, eagerly offered him stock tips.
Kennedy listened politely, but inside, he felt a jolt of alarm.
Bizarrely, Gold Is The Opposite Of The Bitcoin Effect Right Now
Notes From the Field By James Hickman (Simon Black) April 28, 2025
You’ve probably heard the story.
As the legend goes, on a late-summer morning in 1929, Joseph Kennedy — patriarch of the famous Kennedy family — was headed into his office in downtown New York City. As he sat for a quick shoe shine, the young boy buffing his shoes, barely a teenager, eagerly offered him stock tips.
Kennedy listened politely, but inside, he felt a jolt of alarm.
Supposedly he rushed to his office, dumped his entire stock portfolio, and moved heavily into cash. And just weeks later the stock market collapsed.
There’s a good chance this story isn’t true; I’ve often heard it told with Sir John Templeton in place of Joe Kennedy... and when urban legends can’t even get their protagonists straight, that’s usually a sign of fiction.
Curiously, however, a similar thing actually happened to me.
It was March 2009— six months after the Global Financial Crisis kicked off that wiped 50% off the S&P 500.
I was living in Punta del Este, Uruguay at the time and was coincidentally getting my shoes shined before heading to the airport for a trip to Asia.
The shoe shiner, an elderly Uruguayan man, asked me what I did for a living. I mentioned something about finance, at which point he cautioned me to avoid the stock market.
At that point the S&P was at its crisis-era low... and would go on to nearly 10x over the next 16 years.
Another story that is true is from August 1979: Businessweek magazine famously declared "The Death of Equities," capturing the widespread view that stocks (which had suffered in the 1970s) would continue to languish.
Yet the stock market was just about to unleash a multi-decade bull run.
In April 2019, the same Businessweek ran a cover asking, "Is Inflation Dead?", again capturing the popular idea that there would never be inflation again. That turned out to be 100% incorrect.
Then there was the famous Bitcoin craze in November 2017: families across America spent their Thanksgiving holidays opening up Coinbase accounts and bidding up the price of Bitcoin to its (then) all-time high. Crypto subsequently entered a multi-year bear market...
Anytime I see popular bandwagons, I become nervous. And I’m starting to see some signs of that with gold.
One glaring signal is that Costco— which sells gold to its customers— sold out its most recent inventory of American Eagle Gold Coins in less than four days. Gold demand is surging among retail investors.
Dealers are reporting crazy volume. The media is talking about gold daily now, whereas in the past they used to go weeks or months without a mention of gold.
The Wall Street Journal even ran an article this past weekend entitled “How to buy gold”.
Big investment bank analysts who, heretofore had ignored gold or been extremely bearish, are suddenly its biggest champions. Even the notorious Goldman Sachs is now projecting nearly $4,000 gold this year.
And only a handful of analysts are bearish.
Look, we’ve been talking about gold for years... and in particular since 2023 when it became obvious that there were long-term catalysts.
It’s pretty easy to understand: central banks around the world are trading in their US dollars for gold, simply because they don’t have confidence that the dollar will last as the global reserve currency.
And central banks don’t have a lot of options; there are only so many non-dollar asset classes that can absorb hundreds of billions of dollars worth of capital flows. Gold is one of the most convenient.
I’ve explained before that, because of these capital flow trends and catalysts, we could easily see $5,000 or even $10,000 gold over the coming years.
But at the same time, the trend line for the gold price has been incredibly steep ever since its low in 2022. And, again, there are now signs that a retail gold mania may be forming.
I’m not saying that gold is too expensive or that it’s time to sell. These short-term market trends are extremely difficult to predict, and I tend to ignore them.
Instead, I focus on the long-term big picture. And that’s a lot easier to see: the US fiscal situation is in major decline. The government is doing very little about it. And the rest of the world is already diversifying away from the dollar.
All of these trends are good for gold.
Who knows what investors will do over the next few months? But over the next five years, you can make a very strong case that central banks will continue to buy gold and send the price higher.
At the same time, I recognize that it’s difficult for some people to buy an asset when it’s at/near its all-time high... especially when it may suffer a short-term correction.
This is why we’ve been writing about an alternative to gold; because, while gold is near its all-time high, many gold companies are still undervalued relative to gold itself.
I’m talking about really solid, profitable gold miners trading at less than TWO times forward earnings. It’s ridiculous.
In a way it’s the opposite of the crypto phenomenon with Microstrategy (MSTR)— the company which primarily owns and holds Bitcoin.
Microstrategy (technically now called “Strategy”) owns 553,555 Bitcoin worth $52 billion. That’s pretty much their biggest (and nearly only) asset.
Yet the MSTR’s market cap is $92 billion.
In other words, the Bitcoin-related company is worth nearly double the amount of Bitcoin it holds. This makes no sense.
With gold, it’s the opposite. Gold is near its all-time highs... but the gold-related companies are cheap and undervalued.
Some investors are starting to notice— for example, multiple precious metals companies we have published in our investment research service have risen by 40-60%.
One has more than doubled in price... yet is still trading at a forward multiple of just 2x.
So, gold is bizarrely the opposite of the Bitcoin effect with Microstrategy: gold is at a record high, but gold companies are cheap. I’ll say it again— this is not going to last.
To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC
No Gold? You’re Doomed In The Reset War
No Gold? You’re Doomed In The Reset War
Daniela Cambone: 4-28-2025
The Bank of Canada has no gold reserves and that could pose significant challenges for Canadians amid an unfolding global monetary reset, says Maxime Bernier, founder and leader of the People’s Party of Canada, who is running for Prime Minister.
In an interview with Daniela Cambone on Election Day, Bernier outlines the key issues facing Canada: mass immigration, unsustainable debt, and the potential return to a gold standard under his government.
No Gold? You’re Doomed In The Reset War
Daniela Cambone: 4-28-2025
The Bank of Canada has no gold reserves and that could pose significant challenges for Canadians amid an unfolding global monetary reset, says Maxime Bernier, founder and leader of the People’s Party of Canada, who is running for Prime Minister.
In an interview with Daniela Cambone on Election Day, Bernier outlines the key issues facing Canada: mass immigration, unsustainable debt, and the potential return to a gold standard under his government.
He warns that a major monetary reset is already underway, driven by high debt levels in Western nations and the diminishing dominance of the U.S. dollar.
Bernier also explores the possibility of a global shift toward a gold-based system for international transactions, which would present challenges for Canadians lacking gold reserves. In 2017, he recalled being “laughed at” by Stephen Harper when discussing the gold standard idea.
Watch the video to learn more about his policies and his vision for Canada’s future
Key Facts:
Canada owns no gold reserves.
A monetary reset is inevitable.
Canada’s national debt doubled under Trudeau.
Stephen Harper laughed at Bernier's "gold standard" idea in 2017.
Why Western elites are tied to fiat currency?
Seeds of Wisdom RV and Economic Updates Monday Afternoon 4-28-25
Good Afternoon Dinar Recaps,
LEDGER LIVE ENABLES STABLECOIN YIELDS DIRECTLY FROM SELF-CUSTODY WITH NEW KILN INTEGRATION
▪️Ledger is enabling users to access stablecoin yields directly from self-custody via its Ledger Live hardware wallet companion app.
▪️Powered by Kiln, the feature is pitched as a way to access DeFi yields for USDC, USDT, USDS and DAI without going through “complex processes.”
Good Afternoon Dinar Recaps,
LEDGER LIVE ENABLES STABLECOIN YIELDS DIRECTLY FROM SELF-CUSTODY WITH NEW KILN INTEGRATION
▪️Ledger is enabling users to access stablecoin yields directly from self-custody via its Ledger Live hardware wallet companion app.
▪️Powered by Kiln, the feature is pitched as a way to access DeFi yields for USDC, USDT, USDS and DAI without going through “complex processes.”
Crypto hardware wallet giant Ledger says it will enable stablecoin yields directly from self-custody, in collaboration with DeFi infrastructure platform Kiln.
The feature lets Ledger users earn a passive income of 5% to 9.9% on USDC, USDT, USDS and DAI via several DeFi lending protocols, including Aave, Compound, Morpho, Sky and Spark, while maintaining self-custody.
Kiln operates as the backend, providing access to the protocols that users interact with via Ledger Live, Ledger VP of Consumer Services Jean-Francois Rochet told The Block.
Depositing assets into DeFi lending protocols, such as Aave, is currently the most popular way to earn yield on stablecoins. According to The Block's data dashboard, more than $2 billion in USDT has been borrowed on Ethereum alone.
However, instead of connecting their Ledger hardware to third-party web3 wallets and juggling multiple decentralized applications, Kiln abstracts away this complexity, enabling access to DeFi yields natively within the Ledger Live companion app, available on both desktop and mobile versions.
"Web3 browser wallets are typically insecure," Rochet said. "The direct integration offers enhanced security … without leaving the safety of Ledger Live or going through complex processes."
Ledger argues that the integration opens up access to DeFi returns in a more user-friendly way, including clear signing, a method of signing blockchain transactions so that the signed content is human-readable and easily verifiable.
Users simply enter the amount they wish to deposit and select the protocol with the desired APY from the dropdown, Rochet explained. However, the trade-off is that users receive slightly lower APYs than by going directly to the protocols, he acknowledged.
"Ledger is pioneering security-first yield generation in the DeFi space," the firm said in a statement. "More users than ever are entering crypto, and we're focused on making digital assets accessible without depending on insecure browser wallets or multiple dApps. With Ledger Live and Kiln, people now have transparent and easy solutions to earn rewards. We're excited to see enhanced stablecoin capabilities made available to Ledger Live users."
Ledger claims that despite being some of the most widely used assets in crypto, only 4% of stablecoin holders currently earn yield on their USDC and USDT. "This integration unlocks stablecoin yield for users and grants full autonomy over digital assets, unlike centralized exchanges that take control and limit yields to dApp browsers," the firm said.
Close collaboration
Last year, Ledger and Kiln also teamed up to provide native access to liquid staking token restaking, enabling its users to restake assets on EigenLayer directly within the Ledger Live interface.
"Ledger has been a long-term partner of Kiln, and through our close collaboration, we have developed a deep understanding of the needs of their users," Kiln Co-Founder and CEO Laszlo Szabo said following the latest news. "Working together on the Kiln DeFi integration for Ledger is an exciting opportunity, and we're thrilled to help open up access to stablecoin rewards for millions of Ledger users."
The feature will offer yields on USDC and USDT initially, with DAI and USDS support rolling out later within Ledger Live. While Rochet said there is "definitely a plan to increase coverage," no specific additional assets are on the roadmap for now.
Ledger celebrated its 10th anniversary in 2024 and claims that its devices secure over 20% of the world's crypto assets, having sold more than 7.5 million crypto hardware wallets to customers in 210 countries.
Kiln manages over $11 billion in crypto assets, operating around 4.5% of Ethereum's and 2.6% of Solana's total staked assets.
@ Newshounds News™
Source: The Block
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MASTERCARD AIMS TO POWER STABLECOINS FROM WALLETS TO MERCHANT ACCEPTANCE
Today Mastercard announced a ‘360-degree’ approach to stablecoins. It is positioning itself to service stablecoins much in the same way it does with card payments, to enable services for consumers, merchants and banks.
There’s much lobbying for position in the stablecoin sector, with 2025 predicted as the year that stablecoins move beyond crypto use cases. The race is on to see who can build the largest network of partners.
During the past week, Stripe announced it’s testing its new stablecoin solution based on the Bridge API for business payments. Citi forecast that stablecoins could reach a circulation of $1.6 trillion to $3.7 trillion by 2030. And Circle unveiled plans to launch the Circle Payments Network which aims to coordinate on and off-ramps, including collaborating with Deutsche Bank, Santander, Societe Generale and Standard Chartered.
Plus, in today’s announcement, Mastercard mentioned the potential for stablecoins to become ‘ubiquitous’. Last month startup Ubyx announced plans for a network for banks and fintechs to on and off-ramp an array of stablecoins, including smaller ones.
Mastercard’s range of stablecoin services
Turning to Mastercard’s announcement, it has already provided several of these stablecoin services for quite a while. It’s looking to expand its network of partners.
For consumers it makes stablecoins more user friendly by enabling crypto users to pay with stablecoins using Mastercard branded cards. Many crypto exchanges already provide cards, with OKX the latest to announce one.
On the merchant front, it is partnering with Nuvei and stablecoin issuers Circle and Paxos to enable support for merchants to accept stablecoins, whether or not the payment uses a card. The mention of Paxos is notable given a recent report by Coindesk that Visa plans to become a partner of the Paxos Global Dollar, although Visa hasn’t yet officially confirmed it. Paxos is also the issuer of PayPal’s PYUSD.
For crypto institutions, it provides the Mastercard crypto credential to support compliant remittances combined with user-friendly names.
Plus, Mastercard has the Mastercard Multi-Token Network (MTN), which aims to support an array of digital assets, not just stablecoins. MTN includes links to banks such as JP Morgan and Standard Chartered. So far it allows investors in assets such as Ondo Finance’s tokenized money market funds to on and off-ramp, but stablecoins are part of the plans.
“To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” said Jorn Lambert, chief product officer at Mastercard. “We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve.”
@ Newshounds News™
Source: Ledger Insights
~~~~~~~~~
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