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Earlier this year, President Trump announced a digital asset reserve for the US. Trump had announced the creation of a strategic digital asset reserve for the US on Truth Social. He specifically named Ripple’s XRP, Solana (SOL), and Cardano (ADA) as being a part of the US crypto reserve. Also Read: Why Is Cardano (ADA) Trump’s Pick for America’s Crypto Reserve XRP As A Strategic Financial Asset For The US Source: Reddit The US SEC has also acknowledged how Ripple’s XRP, SOL, and ADA could play critical roles in the national digital economy. The financial watchdog stated three key benefits of having a strategic digital asset reserve. Firstly, the SEC highlighted that $1.5 trillion will be freed from banking liquidity. It also said it would save $7.5 billion annually from transaction cost savings. In a document, the SEC shed light on how XRP’s legal clarity could be achieved. It first aims to classify XRP as a payment network and not a security. It would then remove DOJ ...

According to a new filing, the US government is set to sell $130 million worth of Bitcoin (BTC) that was seized from the Silk Road. Indeed, the notice was issued from the United States District Court for the District of Maryland and relays its intention with the seized assets The notice for the impending sale of the assets follows a court-approved forfeiture of 69,000 BTC in the Silk Road case. The initial judgment was made in August of last year but was finally cleared to take effect in December according to a subsequent court filing. JUST IN: 🇺🇸 US Government files notice to sell $130 million worth of #Bitcoin seized from Silk Road. — Watcher.Guru (@WatcherGuru) January 25, 2024 Also Read: US Government Finalizes Forfeiture of 69,370 Silk Road Bitcoin US Government to Sell $130M in Seized Siik Road BTC For those within the digital asset market, the Silk Road has been well-established as one of the industry’s biggest crimes. A digital black ...

Speaking to NPR, US Treasury Secretary Janet Yellen said a government shutdown could bring about a recession. Moreover, the government shutdown appears to be on the verge of occurring. Congress is set to meet today in a last-ditch effort to avoid a halt to government operations.  Yellen stated that such an event would “impose immediate harm” during a Friday interview. Moreover, she said the repercussions would “intensify over time.” Alternatively, although she did not make an outright prediction, the Treasury Secretary noted that the event could create a “risk factor” for a recession.  JUST IN: 🇺🇸 US Treasury Secretary Janet Yellen says a Government shutdown could lead to a recession. — Watcher.Guru (@WatcherGuru) September 30, 2023 Also Read: US Treasury Secretary Expects Slow Decline in US Dollar as Reserve Currency US Treasury Secretary Says Government Shutdown Could Lead to a Recession There is con...

As lawmakers on Capitol Hill and the President Biden Administration explore solutions, there has been a reported blame game by the negotiating parties. President Biden and House Speaker Kevin McCarthy met yesterday to discuss modalities to avoid the debt crisis, but per report, no major deal was inked as it concerns the troubling debt ceiling talks. advertisement Considering the turn of events, President Biden made a comment to show that he is not to blame for whatever outcome the US economy suffers moving forward.  Commenting on this statement, pro-crypto lawmaker, Tom Emmer said the President will have to take the responsibility for whatever the outcome is as members of the opposition have been making the calls to reach a deal before getting to this dire point. We’re nine days out from the Biden administration’s default deadline, and one thing remains absolutely clear: Recommended Articles ...

Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches. A cryptocurrency researcher and former CIA analyst believes the United States government’s relatively slow start on Central Bank Digital Currency (CBDC) development may result in it losing grip on controlling the global financial system. Yaya Fanusie, the policy head at the crypto advocacy group the Crypto Council for Innovation explained in a Feb. 28 Bloomberg interview that sanctioned states are looking to transact on financial infrastructure that isn’t controlled or heavily influenced by the U.S. in order to move funds more freely cross-borders. If the U.S. continues to sit on the “sidelines” and lag behind on CBDC adoption, Fanusie believes this may spell “trouble” and cause unforeseen “geopolitical implications” over time: Fanusie explained that state-issued CBDCs could be a part of this financial infrastructure that becomes...

Senator Warren claims the Trump Administration “gave a green light” to allow for a cryptocurrency market full of junk tokens, rug pulls and ponzi schemes. United States Senator and crypto skeptic Elizabeth Warren wants the Securities Exchange Commission (SEC) to “double down” on its crypto enforcement efforts, highlighting that the cryptocurrency industry is running “scared” for what’s to come next. Warren’s comments came from an interview with American Economic Liberties Projects on Jan. 25. The Senator opined that since Gensler was sworn in as SEC Chairman in April, 2021, the Commission “has made a good start” on fixing some of the problems created by the former SEC leaders under the Trump Administration. Senator Elizabeth Warren wants Congress to deploy more authorities and resources to help the SEC crackdown on the cryptocurrency industry participants. Source: Reuters. Warren claimed that the previous SEC administration “essentially gave the green light” to open up a cryptocurren...