🚨🇷🇴 Cristela Georgescu (Georgescu's wife) AFFIRMS that the case against Călin Georgescu had been PLANNED for a long time...
“I was tortured seeing photos of my children as part of the investigation.”
Georgescu remains in custody for having $5,000 in cash. It's a SHAME, this is lawfare!!!
Writer: Samuel
POWERFUL VIDEO: Romanian MEP Calls For The Immediate Resignation Of Euro Commission President Ursula Von Der Leyen
⬇️WATCH LIVE:
https://t.co/fLQduaXIYY
Stablecoin rules in the UK are being finalized, and are at risk of preventing the UK from being globally competitive in the digital economy.
For example, the Bank of England is proposing a cap on stablecoin holdings for individuals and businesses.
The UK has a long history of being a financial hub. Embracing and encouraging innovation, especially when other countries are moving fast here, is important for maintaining that. The current direction of the rules does the opposite, and will act as an innovation blocker.
If you're from the UK you can sign the petition by @StandWCrypto_UK to set out a pro-innovation strategy for blockchain and stablecoins. Link below.
53 banking associations just wrote themselves a $6.6 trillion protection bill.
They called it the CLARITY Act.
Here is what they do not want you to understand.
Banks pay depositors 0.1% interest. Stablecoin issuers hold Treasury bills earning 4.5%. If stablecoins could pass that yield to users, banks lose the deposit war. They cannot compete. The math is fatal.
So they made competition illegal.
The Kansas City Fed calculated what happens if stablecoins pay competitive rates. Banks lose 25.9% of deposits. $1.5 trillion in lending capacity vanishes. The entire community banking model collapses.
Their solution was not innovation. Their solution was legislation.
The CLARITY Act everyone is celebrating contains Section 404 prohibiting yield payments through any mechanism. Not just from issuers. From exchanges. From affiliates. From partners. Every single pathway to competitive returns, closed by statute.
Brian Armstrong reviewed the 278-page draft for 48 hours. He withdrew Coinbase support at 11pm. The markup was postponed by morning. He saw what Wall Street analysts missed entirely.
This is not crypto regulation.
This is Dodd-Frank for digital assets. Incumbents writing rules that crush competitors. Regulatory capture so brazen they published the lobbying letters on their own websites.
The American Bankers Association. 52 state banking associations. The Community Bankers Council. All coordinating to eliminate an industry they cannot beat in open markets.
Meanwhile China made e-CNY interest-bearing on December 29.
America is banning stablecoin yield while Beijing is paying it.
The crypto industry spent years begging for regulatory clarity.
They got it.
Clarity that $6.6 trillion in deposits will be protected at any cost. Clarity that banks write the rules. Clarity that if you cannot win in markets, you win in Congress.
This is the largest regulatory capture event in American financial history.
And it is being sold as innovation policy.
After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.
There are too many issues, including:
- A defacto ban on tokenized equities
- DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy
- Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC
- Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition
We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft.
We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.
Excellent Explanation about Silver breaking $67 and the effects on the Big Banks!
I do not know who this podcaster is but would love to follow him!
Thank you @lukeDragonpeace for sharing this!
Tokenization is going to reinvent finance. Everything that can be tokenized, will be. It's much better for the end user.
Core benefits:
- Real-time settlement (eliminates counterparty risk)
- Improved liquidity/accessibility
- Higher efficiency by reducing bureaucracy/friction
ELON: "X ISN'T THE BIGGEST PLATFORM, BUT IT RUNS THE GLOBAL CONVERSATION"
Elon gave the most grounded take on X's place in the world during the Nikhil Kamath podcast:
"I mean, look, on the internet, I'm small, you know.
Essentially, what percentage of internet is spent on Twitter? Is there a number to it? On X?
Well, so we have like about 600 million monthly users.
Although it can spike up if there's some major event in the world. It can get up to, I don't know, 800 million or a billion if there's some major event in the world.
So there's, I don't know, 250, 300 million per week type of thing. It's a pretty decent number."
He's not chasing TikTok teens or Instagram reels, X is the home for the literate, the deep thinkers, the ones who actually read and argue ideas.
Video is growing fast, but the core superpower is text. And that's not changing.
In a world drowning in short-form dopamine, X is the last fortress of long-form thought.
And it's still pulling a billion people when shit hits the fan. Small? Nah. Just elite.
Source: @nikhilkamathcio, @elonmusk
ELON: "X ISN'T THE BIGGEST PLATFORM, BUT IT RUNS THE GLOBAL CONVERSATION"
Elon gave the most grounded take on X's place in the world during the Nikhil Kamath podcast:
"I mean, look, on the internet, I'm small, you know.
Essentially, what percentage of internet is spent on Twitter? Is there a number to it? On X?
Well, so we have like about 600 million monthly users.
Although it can spike up if there's some major event in the world. It can get up to, I don't know, 800 million or a billion if there's some major event in the world.
So there's, I don't know, 250, 300 million per week type of thing. It's a pretty decent number."
He's not chasing TikTok teens or Instagram reels, X is the home for the literate, the deep thinkers, the ones who actually read and argue ideas.
Video is growing fast, but the core superpower is text. And that's not changing.
In a world drowning in short-form dopamine, X is the last fortress of long-form thought.
And it's still pulling a billion people when shit hits the fan. Small? Nah. Just elite.
Source: @nikhilkamathcio, @elonmusk
Back in DC pushing for market structure legislation. There's been lots of great progress since I was last here which is great to see. Hoping for a mark up of the CLARITY bill in December, and for it to be on @POTUS's desk soon after.
This bill will get crypto further unlocked in the US with clear rules, which will benefit all businesses, protect customers, and unleash builders.
Let's keep pushing!
🇬🇧COINBASE LAUNCHES SAVINGS ACCOUNT IN THE UK
The new Coinbase Savings Account offers a 3.75% variable annual interest rate just like traditional bank savings.