(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
CRYPTO ADVISORY COUNCIL LED BY 24 CEOS TO COLLABORATE WITH SEC, CFTC, AND TREASURY FOR REGULATORY CLARITY
▪️ Crypto council will collaborate with key regulators, including the SEC, CFTC, and Treasury, to enhance regulatory clarity and promote a pro-crypto environment.
▪️ The crypto industry will host the ‘Inaugural Crypto Ball’ on January 17 in Washington, DC, organized by BTC Inc and Stand With Crypto.
As per the latest Bloomberg report, President-elect Donald Trump will be appointing a total of 24 CEOs and founders to his crypto advisory council. Trump’s crypto council will provide guidance on digital asset policy and collaborate with Congress to draft cryptocurrency legislation.
Additionally, it also plans to establish a strategic Bitcoin reserve, thereby fulfilling the promise of Trump’s e------n campaign.
The Crypto Council also plans to work with top government regulators such as US SEC, US CFTC, and Treasury to bring regulatory clarity and promote a pro-crypto environment, per the CNF report.
The Bloomberg report shows that many potential appointees have existing ties to Trump and have met with him in recent months. On the other hand, Trump and key advisors, including the newly appointed crypto czar David Sacks, will be reviewing candidates for the council.
Crypto Executives Meet Trump Before Oath-Taking
Following Donald Trump’s e------n victory in November 2024, top leaders from the crypto industry have visited his residence at Mar-a-Lago in order to build a good rapport with the President-elect. Crypto.com CEO Kris Marszalek recently met with Donald Trump to discuss crypto-friendly policies and potential roles within the upcoming administration.
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Meanwhile, MicroStrategy CEO Michael Saylor was seen in discussions with Eric Trump, focusing on Bitcoin’s potential role in the U.S. economy. Coinbase CEO Brian Armstrong has also reportedly held meetings with Trump in recent weeks.
Circle CEO Jeremy Allaire was among the recent ones to meet Donald Trump and also announced a significant donation to the Trump inaugural committee. On Thursday, Circle CEO Jeremy Allaire revealed that the company donated 1 million USDC to Trump’s inaugural committee in an effort to establish goodwill as the new administration forms its advisory council, reported CNF.
Crypto Czar David Sacks Gears for Inaugural Crypto Ball
Last month, in December 2024, Donald Trump appointed Bo Hines to lead the newly established crypto council. Hines will be reporting to David Sacks, with the duo focused on offering a conducive environment for the crypto industry.
Bo will work with David to foster innovation and growth in the digital assets space while ensuring industry leaders have the resources they need to succeed,
The crypto industry is gearing up for a significant event, the ‘Inaugural Crypto Ball,’ set to take place on January 17 in Washington, DC, to celebrate and support the incoming administration.
Organized by David Bailey’s BTC Inc., advocacy group Stand With Crypto, and other crypto organizations, the black-tie event will be held at the Andrew W. Mellon Auditorium.
Tickets are priced at $2,500, covering cocktails, hors d’oeuvres, and valet service. Additionally, reports suggest that David Bailey is under consideration for a potential position on the administration’s advisory council.
@ Newshounds News™
Source: Crypto News Flash
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ITALY’S LARGEST BANKING GROUP INVESTS DIRECTLY IN CRYPTOS FOR FIRST TIME
“As of Monday, Intesa Sanpaolo owns 11 Bitcoins.”
Banca Intesa Sanpaolo, Italy’s largest bank by assets, purchased 11 Bitcoins on Monday, worth €1 million ($1.02 million).
According to a Wired Italia report, this marks the first time in Italy, a credit institution concluded a direct crypto transaction.
Some employees of the largest Italian bank first flagged the crypto purchase and sale on the imageboard website 4---n.
“As of today (Monday), Intesa Sanpaolo owns 11 Bitcoins. Thank you all for the teamwork”, said Niccolò Bardoscia, head of digital assets trading & investments at Intesa Sanpaolo in a mail.
However, Bardoscia did not reveal further information on Intesa Sanpaolo’s motivations for choosing BTC or its future crypto strategies. It is unclear whether the move signals the bank’s intent to expand its crypto services.
Last November, Intesa Sanpaolo expanded the remit of its digital assets desk to cover spot trading for crypto. The biggest lender in Italy had previously only traded crypto options, futures, and exchange-traded funds. However, the spot trading isn’t yet up and running.
Milan-based Intesa Sanpaolo has worked with Ripple Custody (formerly Metaco), to facilitate tokenised asset custody.
Intesa’s move mirrors a growing trend among traditional financial institutions exploring cryptos.
Italy’s Crypto Tax Revisions
The bank’s Bitcoin investment came when the country overhauled its crypto taxation laws, particularly focusing on Bitcoin (BTC) capital gains.
In December 2024, Italy’s Senate finalised the tax rates for crypto capital gains, confirming a 26% tax for 2025. Further, the parliament approved a government proposal to increase the withholding tax on Bitcoin profits to 33% in 2026.
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In July 2024, Intesa became the sole institutional investor in Italian development bank Cassa Depositi e Prestiti’s digital bond issuance. The move marked a significant step in digital asset adoption in Italy.
Besides, the implementation of the European MiCA Regulation marks a significant shift in the regulatory landscape for crypto service providers across the EU.
The European Union set a Dec. 30 deadline for its member states to implement MiCA, although not all countries have managed to.
In Italy, the MiCA Decree, the Legislative Decree of September 5, 2024, assigns critical responsibilities to the Commissione Nazionale per le Società e la Borsa (Consob) and the Bank of Italy. It designs them as the primary national authorities for overseeing compliance with MiCA’s provisions.
@ Newshounds News™
Source: CryptoNews
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CARDANO FOUNDATION UNVEILS ‘VENTURE HUB’ PILOT PROJECT TO FORTIFY BLOCKCHAIN INNOVATION
The Cardano Foundation, an autonomous not-for-profit organization backing the Cardano blockchain, has recently unveiled a pilot project Venture Hub. The new pilot project aims to expedite projects developing on the Cardano blockchain. The company revealed this development on its official X account.
Cardano Foundation Starts Pilot Program ‘Venture Hub’ to Increase Chosen Ventures’ Visibility
The Cardano Foundation mentioned that it leverages the new pilot project Venture Hub to enhance its methodology to back ecosystem endeavors. For this purpose, it offers modified assistance to exclusive and beneficial projects.
It leverages its comprehensive experience backing projects via more than five hundred Slack and Telegram channels. Subsequently, the platform pursues to expand selected ventures’ visibility and offer valued feedback to advance its programs.
Venture Hub will reportedly include Web 3.0 Ventures, Web 3.0 Innovators, and Web 2.0 Businesses. These 3 categories take into account existing entities utilizing blockchain to increase client services and established blockchain firms endeavoring to grow or migrate to Cardano. In addition to this, the latest ventures introducing scalable solutions on the blockchain of Cardano are also invited.
The Cardano Foundation will let the selected projects access an exceptional combination of business, visibility, and technical support. This will lead to the projects’ long-term success.
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Venture Hub to Deliver Technical Support and Strategic Business Advice to Boost Project Development
Hence, in the case of visibility boost, the program will deliver a wider exposure via an organized Demo Day, marketing, and PR endeavors. Additionally, the projects will also get strategic business advice to attain sustainable growth.
Moreover, the in-house technical professionals will provide personalized guidance to the selected projects. Venture Hub will potentially cater to the respective projects at diverse development points. They range between early-stage ventures and fully established businesses dealing with blockchain solutions.
According to the Cardano Foundation, the participants will benefit from sophisticated technical strategies and boosted business development with ecosystem collaborators. Apart from that, they will also enjoy an enhanced visibility across the Cardano ecosystem.
Furthermore, the platform will also deliver investment readiness via curated opportunities such as VC engagements and Project Catalyst workshops.
The applications are invited between the 13th and 31st of January. Following that, the platform will announce the successful candidates in February while the 12-week program is scheduled to start on the 17th of March.
@ Newshounds News™
Source: Blockchain Reporter
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Source: Dinar Recaps
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BRICS NEWS: ANALYSTS PREDICT THE FUTURE OF BRICS CURRENCY
The BRICS alliance is working on the formation of a new currency to challenge the US dollar’s global prospects. The bloc aims to dethrone the US dollar from the world’s reserve currency and usher into a new financial era.
The bold idea is pushed most by members China, Russia, and Iran, as their economies are hampered by the US. The White House pressed sanctions on Russia and Iran and both countries are seeking an alternative currency.
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On the other hand, China seeks global domination through BRICS and the launch of a new currency will boost its prospects.
On the contrary, India is against the idea as their leaders have openly supported the US dollar. India’s Foreign Minister S. Jaishankar repeatedly said that they need the US dollar and will not sideline it for trade. The statement highlights the stark differences and ideas among the member nations of the nine-country alliance.
Decoding the Future of BRICS Currency, Analysts Share Their Opinions
Two financial analysts decoded the future of the BRICS currency and shared their opinions about its prospects in the global markets. However, both strategists believe that the contrasting ideas among BRICS members will make the currency a disaster in the forex markets.
“In my mind, there are issues between those countries that make up the BRICS community,” says Michael Diaz, Global Managing Partner of Diaz, Reus & Targ, based in Miami.
“I don’t believe that they will settle on a unified currency because they all have national security concerns. They could move to digital Bitcoin, but because of the individualized interests of those countries, I don’t see it as a risk to the US dollar,” he said.
Another analyst, Monteiro de Carvalho, a partner at Monteiro & Weiss Trade said that he does not believe BRICS currency can challenge the US dollar.
“The very cohesion of BRICS ultimately favors a more fragmented international trade profile into competing blocs. Within BRICS, China acts as a globalizing agent, with its initiatives primarily aimed at opening markets for its products and companies. In the global context, this stance contrasts with countries that have adopted more protectionist measures,” he said.
@ Newshounds News™
Source: Watcher Guru
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BLACKROCK LAUNCHES CANADIAN BITCOIN ETF WITH DUAL-CURRENCY TRADING OPTIONS
BlackRock has launched its first Canadian Bitcoin ETF, offering dual-currency trading options amid market fluctuations and outflows in the U.S. Bitcoin ETF sector.
▪️ BlackRock has launched its iShares Bitcoin ETF (IBIT) on Cboe Canada, offering both CAD and USD trading options and providing Canadian investors easier access to Bitcoin exposure
▪️ The fund invests primarily in the U.S. iShares Bitcoin Trust ETF and allows investors to hold Bitcoin exposure in tax-advantaged accounts through traditional brokerage platforms
▪️ Treasury Secretary nominee Scott Bessent plans to divest his BlackRock Bitcoin ETF holdings before Trump’s inauguration to comply with Federal ethics guidelines
▪️ The U.S. iShares Bitcoin ETF has accumulated $52.7 billion in assets under management, though it recently experienced a record-high outflow of $333 million on January 2, 2025
▪️ Bitcoin spot ETFs saw collective outflows of $313.6 million on Monday, with Bitcoin trading around $95,000 at press time
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Helen Hayes, Head of iShares Canada at BlackRock, explained the practical benefits of the new fund. “The iShares Fund provides Canadian investors with a convenient and cost-effective way to gain exposure to Bitcoin and helps remove the operational and custody complexities of holding Bitcoin directly,” she said.
@ Newshounds News™
Read More: Blockonomi
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JPMORGAN PROJECTS $3–$8 BILLION INFLOWS FOR POTENTIAL XRP ETF
▪️ JPMorgan predicts that spot-based XRP ETF could see inflows of between $3 billion and $8 billion.
▪️ Anticipation for XRP ETF approval is rising as multiple applications await the SEC’s verdicts.
▪️ Ripple’s increasing usage and payment role make XRP a strong candidate for an ETF product.
JPMorgan, a leading global financial institution, has estimated that a spot-based XRP ETF may see flows of $3 billion and $8 billion. The financial giant based this approximation on the performance of Bitcoin and Ethereum ETFs that started in the market last year.
Spot ETFs have gained much popularity in the crypto market and represent about 8% of Bitcoin’s total market capitalization, which is now $1.81 trillion. Nonetheless, Ethereum ETFs have comparatively lower p---------n at 3%, but the trend is still likely to experience an increase in future inflows.
According to JPMorgan, an XRP ETF is expected to have a similar market impact as Bitcoin ETFs. Similar levels of success are also expected from Solana-based ETFs. This will also stress the growing interest in diversified cryptocurrency ETFs among institutional and retail investors.
Industry players compete for approval
Increasing adoption and use of XRP in payment solutions add more weight to the crypto’s suitability for an ETF. Currently, there are already some applications for the XRP spot ETF being filed by some industry participants including Bitwise and WisdomTree. The competition has been further intensified especially after the emergence of positive results in Bitcoin and Ethereum ETFs.
As previously reported by Cryptopolitan, Ripple President Monica Long stated an XRP ETF may be launched right behind Bitcoin and Ethereum products. Her remarks are in line with the market sentiment that the prospect of an XRP spot ETF being approved has risen considerably.
Nate Geraci, a well-known expert in the ETF market, also noted that an XRP spot ETF could be approved within the year. This would be a great boost to Ripple and would also provide a lot of credence to the XRP token as a key digital currency in the market.
While XRP has been garnering much attention, BlackRock, the world’s largest asset manager, has ruled out plans to apply for more altcoin ETFs at this time. The company continues to concentrate on its Bitcoin ETF, which has made it a leading player in the cryptocurrency investment market.
Ripple’s executives have also been making headlines. Ripple CEO Brad Garlinghouse, the Chief Legal Officer Stuart Alderoty, and the U.S president-elect, Donald Trump, held a meeting that set speculations on possible friendly policies towards XRP. Even without any details about the meeting, the crypto community has considered this a positive sign.
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The further expansion of the Ripple ecosystem has also added more wind to XRP’s sails. The RLUSD, a stablecoin issued on the XRP Ledger, is used to enhance the options of settlements on the XRP Ledger. The adoption of the XRP Ledger is expected to grow due to RLUSD improving cross-border transaction efficiency.
XRP price update
At the time of writing, XRP is trading at $2.47, a decrease of 3.28% in 24 hours.
@ Newshounds News™
Read more: Cryptopolitan
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Source: Dinar Recaps
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