(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 KILLS TWO CRYPTO BILLS, CRACKS DOWN ON BITCOIN ATMS
- Governor Katie Hobbs vetoed two major pro-crypto bills:
- Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund, and
- Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act that would have allowed up to 10% of state treasury and retirement funds to be invested in Bitcoin.
- She also rejected Senate Bill 1024, which would have allowed state agencies to accept crypto payments for taxes and fees.
Hobbs cited “volatility in cryptocurrency markets” as a core reason for vetoing, stating the proposals posed too much financial risk for public funds.
- However, she approved House Bill 2387, which imposes strict consumer protections on Bitcoin ATMs:
- Requires multilingual scam warnings and acknowledgment from users before transactions.
- Caps daily transactions at $2,000 for new users and $10,500 for returning users after 10 days.
- Mandates detailed receipts, visible 24/7 customer support info, and a 30-day refund policy for fraud v-----s.
- Additionally, Hobbs signed House Bill 2749, modernizing unclaimed property laws to let Arizona hold unclaimed crypto in its original form rather than converting to fiat.
@ Newshounds News™
Source: CoinTelegraph
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BRICS: US & CHINA AGREE TO TARIFF PAUSE, BUT WHO’S NEXT?
- The US and China have agreed to a 90-day tariff pause, signaling a potential thaw in tensions and offering hope for a broader trade deal.
- President Trump called it a “total reset” in relations, easing fears of an imminent trade war between the world’s two largest economies.
- China’s role in BRICS remains pivotal, and the agreement has sparked speculation about which BRICS nation may secure relief next.
- India has already finalized trade terms with the US, while Brazil still faces a 10% tariff, and South Africa’s has been lowered from 30% to 10%.
- Russia was never included in the initial US tariff plan, giving the BRICS alliance some strategic leverage.
- The European Union (EU) may be next on the negotiation list, though Trump called the EU “nastier than China” in recent comments.
- BRICS’ united trade front is believed to be effective, with growing optimism that tariff relief deals for other members are coming soon.
- The 2025 BRICS summit could expand the alliance, increasing its global influence during ongoing trade negotiations.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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COINBASE BECOMES FIRST BITCOIN AND CRYPTO COMPANY TO JOIN THE S&P 500
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
Coinbase Global Inc. (NASDAQ: COIN) is officially joining the S&P 500 starting May 19. It will replace Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial (NYSE: COF), an existing member of the index.
This is a big move for Coinbase and an even bigger signal for Bitcoin. For a crypto company to be added to one of the most important indexes in the U.S. shows how far this industry has come. It’s not just hype anymore—it’s becoming a real part of the traditional financial system.
“Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history,” Coinbase posted on their X account.
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To get into the S&P 500, a company needs to meet a few strict requirements. They need a market cap of at least $18 billion, have most of their shares held by the public, be profitable over the last four quarters, and be listed on a U.S. exchange. Coinbase checks all of those boxes, with a market cap over $40 billion and solid recent earnings.
Once Coinbase is added, every fund that tracks the S&P 500 will need to include it in their portfolios. That means more demand for the stock, which could push the price up in the short term. But even more important, it brings more exposure and credibility to the entire crypto space.
“Congratulations Brian Armstrong on $COIN being added to the S&P 500 Index,” said Strategy Executive Chairman Michael Saylor. “A major milestone for Coinbase and for Bitcoin.”
Now let’s talk about Bitcoin. Coinbase is one of the top platforms people use to buy and sell Bitcoin. Having it in the S&P 500 makes Bitcoin exposure more accessible to traditional investors. It also helps reduce the idea that Bitcoin and crypto are just some risky gamble.
And the numbers speak for themselves. Over the past 14 years, Bitcoin has outperformed the S&P 500 and gold by a huge margin. Since 2010, Bitcoin has surged a staggering 7,200,000%, compared to the S&P 500’s 306% and gold’s 116%. Even when looking at shorter timeframes, Bitcoin consistently beats both. For instance:
- In the past year:
- Bitcoin: +27%
- Gold: +37%
- S&P 500: +5%
- In the last five years:
- Bitcoin: +1,138%
- Gold: +85%
- S&P 500: +92%
@ Newshounds News™
Source: Bitcoin Magazine
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SAUDI ARABIA DROPS BRICS, INKS $600B STRATEGIC DEAL WITH US IN 2025
A new agreement has been signed, and it is poised to have major geopolitical ramifications as Saudi Arabia has seemingly dropped BRICS, inking a new deal with the US in 2025. Indeed, Riyadh has agreed to a “strategic economic partnership” with the United States amid a visit from President Donald Trump on Tuesday.
Both Trump and Crown Prince Mohammed Bin Salman have reached the landmark agreement that will increase cooperation in energy, mining, defense, and other ventures. Indeed, the memorandum was reached in what is the US president’s first major foreign trip since his return to the White House.
Saudi Arabia & US Reach New Deal Despite BRICS Standoff
Since his return to the Oval Office, Donald Trump has not been shy about his feelings toward the BRICS economic alliance. Earlier this year, he threatened 150% tariffs on the bloc. Specifically, he warned of repercussions for its continued de-dollarization efforts.
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His stance only complicated the relationship between the collective and the recent expansion nation, Saudi Arabia. With tensions rising during Trump’s second term, Riyadh was seemingly c----t in the middle. Now, it appears to have made its choice, as Saudi Arabia has turned from BRICS, signing a new strategic deal with the US in 2025.
The memorandum and agreement encompassed a host of sectors, including energy, defense, health, and the arts. Additionally, the letter of intent will see the US aid Saudi Arabia in the development of its armed forces. Moreover, they have plans for the Saudi Ministry of Interior and F-I to cooperate in one of many partnership aspects.
Abdulaziz Alghashian, Director of Research at Riyadh’s Observe Research Foundation Middle East, recently discussed the agreement. He noted that the deal’s reach “speaks to the depth” of the two nations’ relationship. With the US and BRICS standing so opposed, it questions Saudi Arabia’s commitment to its cause.
However, that may not be the case. Alghashian noted that the deal “won’t come at the cost of relations with others.” Yet, only time will tell if that is the case. Just weeks ago, the US and China were on the doorstep of a trade war. Moreover, those tensions don’t appear to be entirely resolved.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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