i worked at goldman sachs, blackstone and graduated from @Wharton with honors.
i've tracked tons of deals in the crypto space.
but @ripple's acquisition of hidden road is without a doubt one of the most important deals for crypto.
here's why:
1/ ripple is now the first crypto company to own and operate a global, multi-asset prime broker.
this means ripple can offer full-service trading and clearing solutions that rival wall street's biggest players. in fact, it's the first crypto company to do so.
2/ one of the largest deals in crypto.
at $1.25 billion, this is a big deal (literally!). i'm currently on the ground at Paris Blockchain Week, where the news first dropped, and it's all everyone's talking about.
3/ supercharges the #XRP Ledger and adoption of $RLUSD stablecoins.
how? well, all of hidden road's trades will be migrated onto the #XRP Ledger. and $RLUSD will be used as collateral across Hidden Road’s brokerage services. both bring huge real-world institutional usage to the ecosystem.
4/ hidden road is one of the fastest-growing prime brokers in the world.
with $3 trillion+ in clearing volume annually and 300+ institutional customers, hidden road allows ripple to bring digital assets to institutional customers at speed and scale previously not possible.
5/ gives ripple an unparalleled foothold in traditional finance.
on any one day, hidden road clears over $10 billion and processes more than 50 million transactions across traditional rails. now, that's going to run on the XRP Ledger.
since partnering with ripple, we @easya_app have educated over 100,000 developers on the XRP Ledger and got thousands more launching on the XRPL at our in-person ripple hackathons around the world.
with this latest acquisition, we're excited to work with ripple to onboard thousands more. the future's even brighter than you can imagine.
President Trump announced the establishment of a U.S. Crypto Reserve which will include $XRP, $ADA and $SOL tokens.
@nikhileshde reports
https://t.co/qIgeagNTtg
It is my great honor to be nominated by President @realDonaldTrump as the next Chairman of the Commodity Futures Trading Commission, where I had served as a Commissioner in his last administration. The @CFTC plays a critical role in maintaining robust hedging and price discovery markets that are the envy of the globe. The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation. I look forward to working with President Trump’s incredible financial regulatory team. 🇺🇸
🚨BREAKING: A Senate aide has just informed me that tomorrow’s Senate Banking Committee scheduled markup vote on @SECGov Commissioner Caroline Crenshaw has been canceled.
She will not be renominated to her position.
This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.
BREAKING: Elon Musk and Vivek Ramaswamy reportedly considering ending daylight savings time as a part of the Department of Government Efficiency, per Forbes.
You are a disgrace who forever tarnished the reputation of the SEC. That's your legacy.
Everyone who follows Gary, make sure to unfollow him. Let’s relegate him to the dust bin of history.
👀 We’re just as excited as you to see #Bitcoin break $100K.
⌛️ So, when $BTC hits $100K, we’ll plan a $50K giveaway!
📢 Help us reach 200K followers, and we’ll double the #BTC prize.
Simply:
✅ Like + share this post
✅ Follow @UpholdInc
🤝 Let’s cross the line together!
This would help
Honestly, getting rid of individual income tax entirely would be ideal, shifting tax reporting burden to businesses instead. Try to generate equivalent revenue via a sales tax, or on business income, etc.
It's kind of crazy that we ask every adult in the U.S. to figure out how to pay their taxes - the tax code is ~150k pages long and no single person fully understands it. Would be better to offload this burden to the 10k largest companies, instead of asking 200m adults to figure out a complex accounting task annually.
🚨SCOOP: 18 U.S. states have filed to sue the @SECGov and its commissioners, accusing them of unconstitutional overreach and unfair persecution of the #crypto industry under the leadership of agency chief @GaryGensler.
The lawsuit, signed by 18 Republican Attorneys General, details how the agency has committed “gross government overreach” with its regulation by enforcement crusade against the $3 trillion industry, resulting in an infringement upon states’ rights to regulate their economies.
Story developing and full write-up coming soon.