Sat. AM-PM Seeds of Wisdom Crypto Update(s) 5-3-25

(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

ARIZONA GOVERNOR VETOES BILL TO MAKE BITCOIN PART OF STATE RESERVES

Arizona’s plan to invest in Bitcoin has ended in a veto, with Governor Katie Hobbs citing concerns over using public funds for “untested assets.”

Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.

The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials, was formally struck down on Friday, according to an update on the Arizona State Legislature’s website.

“Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.

“Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” she added.

On April 28, the bill passed a final vote in the state House when 31 members of the Arizona House voted in favor of the bill, with 25 opposing.

Hobbs had previously stated she would veto any legislation not tied to a bipartisan agreement on disability funding.

Another Bitcoin awaits final vote

A companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.

Arizona joins several other states where similar efforts have failed. In recent months, similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn.

In contrast, North Carolina’s House passed the Digital Assets Investment Act on April 30, allowing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill has now been moved to the state Senate for consideration.

The state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government.

Trump signed an executive order in March with a proposal for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

@ Newshounds News™

Source: CoinTelegraph

~~~~~~~~~

UK REGULATOR PROPOSES BAN ON BUYING CRYPTO WITH CREDIT CARDS

The UK’s financial regulator is considering a ban on buying crypto with credit, and also mulling outlawing crypto lending and borrowing platforms.

▪️ The UK’s Financial Conduct Authority has proposed banning the use of credit to purchase crypto assets.
▪️ The regulator is accepting comments on the rule from the public until June 13.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

We are concerned that consumers buying crypto assets with credit may take on unsustainable debt, particularly if the value of their crypto asset drops and they were relying on its value to repay,” the FCA said.

A YouGov survey recently commissioned by the Authority found that 14% of UK crypto users reported using credit to buy digital assets in August 2024. That figure marked a 133% uptick from two years prior.

The proposal, if passed, would not necessarily impact all crypto assets, however. The FCA said that stablecoins authorized by its regulatory regime would likely be exempt from the credit ban.

@ Newshounds News™

Source: Decrypt

~~~~~~~~~

Source: Dinar Recaps

=======================================

BRICS 2025 SUMMIT COULD BE GAME-CHANGER FOR THE US DOLLAR

Just months into 2025, geopolitical tensions are shaking global markets — especially between the US and the BRICS economic alliance. As a result, the upcoming BRICS 2025 Summit may prove to be a turning point for the US dollar.

For years, BRICS nations have pursued de-dollarization, aiming to reduce reliance on the greenback. With the US leaning into America-first trade policies and further weaponizing the dollar, the bloc’s resolve may now be firmer than ever.

Why the BRICS 2025 Summit Matters

The annual BRICS summit has become the alliance’s most critical platform for economic coordination. Past gatherings have focused on:

• Expanding membership
• Developing alternative currency mechanisms

This year’s summit — dubbed the “Rio Reset” — is expected to be the most pivotal yet, particularly as Brazil holds the BRICS chairmanship and pushes for redefining global currency norms.

According to Birch Gold Group, the summit is “rumored to be a significant monetary development that will disrupt the dollar-based global financial system.”

“I’m convinced BRICS will make history this summer,” says analyst Peter Reagan.

Pressure on the US Dollar Builds

Since President Donald Trump’s return to office, his administration has introduced tariffs and protectionist policies, prompting the US dollar to fall 10% in just his first 100 days.

Without new trade deals, continued depreciation of the dollar seems likely. This only strengthens BRICS’s incentives to push forward with currency diversification and new international monetary tools.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

ANALYSIS: RIPPLE MAKES BID FOR STABLECOIN ISSUER CIRCLE – REPORT

Earlier this week, Bloomberg reported that Ripple made a $4–$5 billion bid for Circle, the issuer of the USDC stablecoin. Circle rejected the offer, viewing it as too low. This comes as Circle filed for an NYSE listing earlier this month.

Despite generating $1.67 billion in 2024 revenue, Circle earned just $156 million in profit, due to 60% of revenue being paid out to distributors, especially Coinbase.

Why Ripple Wants Circle

Ripple’s interest makes strategic sense. It recently launched its own stablecoin, RLUSD, which just passed $300 million in market cap. By contrast, Circle’s USDC stands at $61 billion. Both aim at institutional markets, creating a major overlap in target audience.

Moreover, Ripple is cash-rich. It holds:

• 4.5 billion XRP outright (worth ~$10 billion),
• 38 billion XRP in escrow,
• Plus, it committed $1.25 billion to acquire prime broker Hidden Road.

XRP’s Speculative Valuation

Ripple’s XRP holdings enable large acquisitions, but its price is highly speculative:

• XRP’s market cap is ~58% of Ethereum’s.
• Yet, Ethereum has ~20x more daily active users (~465k vs. XRP’s ~23k).
• Developer activity and ecosystem growth also heavily favor Ethereum.

So while it’s a good time to spend XRP, any acquisition requiring the recipient to hold XRP carries pricing risk.

Circle’s Institutional Edge

Circle is deeply entrenched in institutional finance:

• Partners with BlackRock to manage reserves,
• Custody by BNY Mellon,
• Recently linked to stablecoin collateral for listed derivatives,
• Favored in CFTC tokenized collateral pilots.

Ripple, although a late entrant, wants in. It already:

• Acquired Metaco ($250M) for custody solutions,
• Worked with emerging market CBDC pilots,
• Serves institutional cross-border payments.

Why Circle Rejected the Offer

Circle is pursuing an IPO expected to value it around $4–$5 billion, the same range as Ripple’s offer.

But:

• Founders retain Class B shares with 5x voting power,
• CEO Jeremy Allaire has IPO experience (sold Allaire Corp to Macromedia),
• This IPO is a launchpad—not an exit.

Given Circle’s years of pivots (e.g., Poloniex acquisition, Circle Pay wallet) and the long road to USDC’s success, a $5B sale isn’t attractive, especially if paid partly in volatile XRP.

Bottom Line

Ripple’s bid is strategically sound, but to succeed, it may need to significantly raise the offer — and reduce XRP exposure for any future acquisition deal.

@ Newshounds News™

Source: Ledger Insights

~~~~~~~~~

Source: Dinar Recaps

______________________________________________________

If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © Dinar Chronicles