Crypto entrepreneur and Bitcoin.com founder, Roger Ver, has recently unveiled the publication of a 304-page book titled “Hijacking Bitcoin: The Hidden History of BTC,” offering a fresh viewpoint that diverges from commonly accepted historical accounts. This book provides readers with an alternate perspective, challenging the traditional narratives surrounding Bitcoin’s evolution and history. Exploring Bitcoin’s History […]
Bitcoin News
Introducing Book Of Meme (BOME), The Latest $1 Billion Crypto Sensation
Memecoin project Book of Meme (BOME) has emerged as the latest shining star in the crypto market over the last few days. Following its official launch this week, BOME has attracted much investor interest, acquiring a market cap of billion within 48 hours of trading.
BOME’s sudden emergence can be regarded as a silver lining in the crypto space in the last week amidst Bitcoin’s 4% decline, which resulted in the maiden cryptocurrency falling to around ,345.14. Meanwhile, Ethereum is also down by 10%, while prominent memecoins Dogecoin and Shiba Inu also recorded losses to the tune of 24.23% and 16.69% over the last seven days.
What Is The Book Of Meme?
The Book of Meme was founded by DarkFarms, the creator of another popular memecoin Pepecoin. BOME functions as an experimental project aimed at incorporating memes, decentralized storage solutions, degen shitcoin trading, and gambling on a single platform in a bid to create a novel web3 experience.
Following a successful presale that raised 10,131 SOL, BOME debuted in the crypto market on March 14 with an initial price of .0000496. Over the next two days, Book of Meme swiftly rose to a price region of .012 while achieving a market cap value of billion.
Due to the sudden listing by Binance, MEMECOIN BOME rose sharply by 243% in 24h, but other MEMECOINs generally fell sharply, PEPE WIF FLOKI BONK fell by more than 10%. The current market value of BOME has exceeded US.38 billion, ranking seventh in MEMECOIN in terms of market…
— Wu Blockchain (@WuBlockchain) March 16, 2024
Unsurprisingly, BOME’s expeditious rise has earned the coin listings on major crypto platforms, including KuCoin, Gate.io, MEXC, HTX, Crypto.com and Binance. In particular, BOME’s listing on Binance on March 16 is believed to have spurred the token to a 243% price gain within a day, allowing the memecoin to gain a peak market cap of .55 billion.
In a similar fashion with other highly successful memecoins, some investors have benefitted the most from BOME’s rise. Data from LookonChain reveals that a certain investor already sold all 347 million BOME for 34,647 SOL valued at .58 million, recording a 340x gain on 102 (,000) investment at the presale. Meanwhile, the largest BOME holding personal address known as sundayfunday.sol currently holds 1.242 billion BOME, valued at .8 million.
BOME Price Overview
At the time of writing, Book of Meme currently trades at .02139 with a 58.08% gain on the last day. Meanwhile, the coin’s daily trading volume is up by 125.05% and is valued at .18 billion. BOME’s current market cap stands at .18 billion, allowing the memecoin to rank as the 85th largest cryptocurrency.
Fed’s ‘Beige Book’ Paints Dim Economic Picture, Experts Warn Central Banks ‘Have No Ability to Save Anything’
On Wednesday, following the market’s closure, major U.S. indices concluded the day unchanged, coming off a rise the previous day. This surge was influenced by the dovish remarks made on Tuesday by Federal Reserve Governor Christopher Waller. Observers of the market infer that Waller’s comments indicate a potential shift in the stance of the U.S. central bank, a notable deviation given his usually hawkish perspective. Concurrently, the Federal Reserve’s latest ‘Beige Book’ report presented a more troubling outlook than its predecessor, pointing to decelerated economic expansion and a rise in consumer credit defaults.
Waller’s Typical Hawkish Tone Turns Dovish
Two days prior, at the American Enterprise Institute, Christopher Waller of the Fed shared with participants that “inflation rates are moving along” largely as he had anticipated. Waller elaborated, pondering if inflation could stabilize around the 2% mark. He noted, “There are some factors favoring this outcome,” shedding light on the issue.
Emphasizing his growing assurance, Waller stated that he was “increasingly confident that policy is currently well positioned to slow the economy” in order to reduce the inflation rate to the targeted 2%.
Waller added:
I will be looking to see that confirmed in upcoming data releases. Before the next FOMC meeting, we will get data on PCE inflation and job openings, a job report, and [a] supply manager’s survey for November. CPI inflation will come out on December 12, the first day of the FOMC meeting.
‘Beige Book’ Shows Economic Slowdown; Critics Don’t Expect a ‘Soft Landing’
Following Waller’s address, U.S. equities experienced an upswing, yet the subsequent day brought the U.S. central bank’s release of its ‘Beige Book’ survey, revealing a blend of divergent trends within the U.S. economy. This report depicted oscillating retail sales alongside a deceleration in manufacturing activities. For example, retail and automobile sales indicated a change in consumer spending habits, whereas purchases of non-essential items and long-lasting products like furniture and appliances saw a downturn.
As per the ‘Beige Book,’ the U.S. manufacturing sector is facing a general decline in future prospects. This is coupled with a fall in the demand for both business and real estate loans. According to the Fed’s analysis, although consumer credit remains largely stable, a slight increase in consumer loan delinquencies was noted. The survey also points to early signs of financial strain in specific consumer groups. Moreover, the survey reveals a continuous decline in both commercial real estate and multi-family housing activities.
Waller and the ‘Beige Book’ offer a depiction of the current economic uncertainties, and although the Fed anticipates a “soft landing,” some critics are skeptical about this positive outcome. Robert Kiyosaki, the author of “Rich Dad Poor Dad,” recently expressed concerns about impending “hyperinflation” and criticized government leaders for their heightened “incompetence.”
Economist and proponent of gold, Peter Schiff, shared with his followers his belief that the economy is headed not towards a soft landing but towards a “crash & burn” scenario. Bill Holter, an expert in precious metals and a financial writer, recently remarked, “These central banks have completely blown up their balance sheet and have no ability to save anything.”
Holter added:
In short, confetti dollars are going to shut the credit markets down…Then, it’s game over because everything runs on credit.
What are your thoughts on this subject? Let us know what you think in the comments section below.
Scottish Author Exposing Onecoin Cancels ‘Devil’s Coin’ Book Tour After Death Threats
An author from Scotland has been targeted for her work to expose one of crypto history’s most notorious Ponzi schemes, Onecoin. Jennifer McAdam recently canceled book signings after receiving death threats for writing about the massive fraud and its ‘Cryptoqueen’ mastermind.
Writer Cancels Promotional Events for Book on Onecoin on Advice From Scottish Police and FBI
Author Jennifer McAdam has been forced to cancel a promotional tour for her book ‘Devil’s Coin’ exposing the crypto pyramid Onecoin which defrauded millions of investors around the world, the Scottish Sun newspaper reported.
McAdam writes about Onecoin’s founder Ruja Ignatova, dubbed the “missing Cryptoqueen” as she is still wanted by Interpol, Europol, and the U.S. Federal Bureau of Investigation (FBI), which put it on its ten most-wanted fugitives list.
The writer’s decision came after police in Scotland as well as the FBI advised her against carrying out planned signings in Irvine, Ayr and Glasgow for the book devoted to her battle to take down the Ponzi scheme. This week, she was quoted by the Scottish tabloid as saying:
I am upset that my events have had to be cancelled but I did not want to go ahead in the light of the potential dangers highlighted to me.
At the same time, McAdam thanked her “brave publishers around the world” who she said would not be intimidated. “I feel it is a triumph on their part allowing me to tell my story and those of the thousands of victims of a despicable fraud.”
The publication reveals that Jennifer McAdam has faced online abuse for her efforts to secure justice for the victims that could be coming from people who benefited from the scam. The book’s publisher, Ad Lib, confirmed the cancelation due to “serious security concerns” and said:
Since taking on the fugitive Onecoin Cryptoqueen Ruja Ignatova, she has suffered a campaign of intimidation, including legal challenges, death threats and vile online abuse.
Onecoin was launched in 2014 as a multi-level marketing network based on a fake cryptocurrency with the same name. It is believed to have defrauded more than 3 million investors globally of over billion, based on its own documents.
The crypto pyramid’s mastermind, Bulgarian-born German national Ruja Ignatova, was last seen on Oct. 25, 2017, at the airport in Athens, Greece, where she arrived on a flight from the Bulgarian capital Sofia. In July, 2022, the Greek press reported that the local police had tried to locate her after receiving information she was in the country. A Bulgarian media report suggested in February of this year that she may have been killed in Greece a year after her disappearance.
In 2019, the Cryptoqueen’s brother and Onecoin co-founder, Konstantin Ignatov, was arrested in the United States where he pleaded guilty to Onecoin-related charges and sought witness protection. Another co-founder, citizen of Sweden and the U.K. Karl Sebastian Greenwood pleaded guilty in December 2022.
Do you think that those who benefited from the crypto scam Onecoin are behind the threats on Scottish author Jennifer McAdam? Share your thoughts on the case in the comments section below.
New Book Reveals Central Banks’ Role in Libor and Euribor Rate-Rigging Scandals
According to an extract from a book called “Rigged,” central banks and global policymakers helped coordinate the rate-rigging scandals Libor and Euribor on a large scale. Written by Andy Verity, the book exposes how various central banks and politicians exerted pressure on banks during the Great Financial Crisis (GFC). This coordinated effort sheds light on the extent of the scandal and the alleged involvement of powerful institutions in manipulating the rates.
Verity’s ‘Rigged’ Uncovers Shocking Details About Rate-Rigging Scandals
The Times dropped a financial bombshell on May 22, 2023, with an exclusive extract from Andy Verity’s latest book, “Rigged.” The article details how central banks and governments exerted pressure on banks to manipulate key interest rates during the 2008 financial crisis. Shockingly, this information was not utilized when the U.S. Department of Justice (DOJ) and the U.K.’s Serious Fraud Office cracked down on nearly 40 traders and brokers involved in the Libor and Euribor scandals, as reported by Zerohedge.
Zerohedge sheds more light on the revelations from Andy Verity’s book, “Rigged,” which the BBC also reported on in their article titled “Interest rate ‘rigging’ evidence ‘covered up’ by banks.” According to Verity’s book, during the Lehman crisis of the Great Financial Crisis (GFC), “markets around the world were in a full-blown panic, with share prices plummeting.” In response, Verity claims that “central banks decided to act together to get real borrowing rates down.”
The Libor and Euribor scandals were among the most significant financial frauds to emerge from the Great Financial Crisis (GFC). The scandals involved the manipulation of two key interest rate benchmarks: the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The scandal first came to light in 2012, and the Euribor scandal unfolded around the same time. It is believed that the motive behind the rate rigging was to make certain banks appear more financially stable than they actually were.
The BBC report revealed shocking allegations that the U.K. Treasury Committee of MPs chairman, Andrew Tyrie, believes Parliament “appears to have been misled.” Tyrie added that “the evidence that Mr. Verity has unearthed strongly suggests that the committee’s inquiry into the Libor scandal was not told the whole truth.” According to Verity’s book, “Rigged,” the scandal was not a secret to everyone, as the U.S. Federal Bureau of Investigation (FBI) was allegedly informed of the rates scandals in November 2010.
The extract from Verity’s book exposes the ostensible involvement of several central bank entities, including the European Central Bank (ECB), the U.S. Federal Reserve Bank of New York, the Bank of England, Banque de France, Banco de Espana, and Banca d’Italia, in the Libor and Euribor benchmark events. The Times reached out to some of the entities mentioned in the book, but a few declined to comment on the matter.
What do you think should be done to hold central banks and governments accountable for their involvement in the Libor and Euribor rate-rigging scandals? Or will they never be held responsible for the accusations? Share your thoughts about this subject in the comments section below.
Luck Strikes Again: Player Wins 6 BTC Jackpot on Book of the Fallen at Bitcoin.com Games
A thrilling adventure in Book of the Fallen by Pragmatic leads to a huge win of 6 BTC!
Another Massive Win on Bitcoin.com Games
It seems like the lucky streak on Bitcoin.com Games crypto casino continues with yet another player hitting the jackpot of 1,214 times their initial bet amount, and winning a life-changing amount of BTC. The latest big win came from a player who took a chance on the thrilling game Book of the Fallen by Pragmatic and ended up with a massive 0,000 payout in Bitcoin.
Book of the Fallen by Pragmatic
Book of the Fallen is an action-packed slot game with an adventurous theme that takes players on a quest to discover the hidden treasures of an ancient civilization. With its impressive graphics and unique features, this game offers players an unforgettable gaming experience that’s both exciting and rewarding.
The lucky player who won the 0,000 jackpot was spinning the reels with a bet of 0.005 BTC, proving once again that on Bitcoin.com Games, big multipliers can propel even the smallest of bets into big fortunes. Book of the Fallen offers a high volatility gameplay with the potential to hit a multiplier of up to 5,000x the bet value.
Player lands 1,214x on a bet of 0.005 BTC, wins 0,000!
The player, who wishes to remain anonymous, said they were drawn to the game’s intriguing storyline and impressive graphics. They never expected to win such a large amount of Bitcoin, but were thrilled to hit the jackpot after just a few spins of the reels.
Bitcoin.com Games – A Hub of Big Wins
Bitcoin.com Games offers a wide range of casino games, including popular slots, table games, live casino games, and more. The casino has been gaining popularity due to its impressive array of games with big jackpots and high multipliers. Many players have already won life-changing amounts of BTC by playing on the platform, and with new games being added regularly, there are always new opportunities to hit the jackpot.
Join the Fun and Win Big
Whether you’re a seasoned casino player or just starting, Bitcoin.com Games is the perfect place to test your luck and potentially win big. With Book of the Fallen and other popular games available, players have a chance to experience the thrill of winning big and changing their lives forever. So, don’t wait any longer, head to Bitcoin.com Games and start spinning the reels today!
Play Book of the Fallen now or check out other games with big jackpots and bonuses that you can play on Bitcoin.com Games.
This is a promoted post. Learn more on how to reach our audience here. Read the disclaimer below.
Solana Beneath Crucial Resistance, Traders Should Book Profits At These Levels
Over the past few days, Solana has been attempting to reverse its price action. Over the last 24 hours, the altcoin surged above 11%, bringing the price to a crucial level at press time. Losses made over the past week were reversed due to the recent appreciation on the chart.
SOL must remain above the current price for the short-term bullish sentiment to turn into a long-term one. The technical outlook also sided with an upward price movement on the chart.
Although the technicals indicated recovery, the chart still failed to display bulls taking over the market. The demand for the altcoin rose but remained in bearish territory. The buying strength was reduced, and that reflected a fall in accumulation.
If demand remains in the bearish zone over the subsequent trading sessions, SOL might fall into a liquidity pocket again. With Bitcoin trying to climb up on its chart, other altcoins are also attempting to move north.
Solana Price Analysis: One-Day Chart
SOL was trading at at press time. The altcoin has managed to retest previous lows on the chart. Overhead resistance for the coin stood at . Moving above the level will take the coin to . Another vital price ceiling stood at . Breaching will take the SOL to .
On the other hand, the local support level stood at ; falling below that would bring the altcoin down to . The price area is a confluence of the resistance level for the altcoin.
This price level could cause significant obstruction for the altcoin price. The two levels where traders should sell if the price dips stood at and .
Technical Analysis
The buying strength of SOL tried to recover, but buyers remained within the bearish territory. Despite an uptick, the Relative Strength Index (RSI) was below the half-line, indicating that selling strength was still greater than buying power.
The price of SOL fell below the 20-Simple Moving Average line, indicating that sellers were still driving the price momentum in the market. With a sustained increase in demand, the RSI could topple over the half-line, strengthening the bulls further.
As the altcoin price increased on the daily chart, capital inflows also appreciated over the same time frame. The Chaikin Money Flow rose above the half-line, indicating that capital inflows have increased, reflecting increased demand for the altcoin.
The Directional Movement Index reads the price direction. The indicator was positive, as the +DI line (blue) was above the -DI line (orange).
The Average Directional Index (red) moved above the 20-mark, which suggested that the current price trend was strengthening on the daily chart.
CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams
In many places around the world, schools cannot provide children with a sufficient supply of books due to poor financial conditions, nor can parents afford books. Meanwhile, the reading ability of children who have been raised in an environment without books is inferior to the average level, which negatively affects their life prospects.
Focusing on education for young children worldwide, CoinEx Charity will kick off Book Donation Worldwide on May 26, 2022, to improve children’s reading environment. The campaign will begin in Turkey and take CoinEx Charity to schools in poor regions across 11 countries, including Syria, Thailand, Vietnam, Indonesia, Nigeria, Malaysia, India, Brazil, Germany, and South Korea. CoinEx Charity will help schools build charitable reading corners and donate books to provide more reading opportunities for local children.
Find out more about the campaign at: https://mobile.twitter.com/CoinExCharity
A book that helps children succeed
Books are a treasure house that’s full of information and wisdom — they help children succeed. However, most schools around the world do not have a library, making it difficult for children to explore the vast breadth of knowledge. Even in the US, which is the world’s wealthiest country, one in every 4 children grows up without learning how to read.
CoinEx Charity’s Multi-Million-Dollar Charity Fund is a charitable foundation dedicated to alleviating the “learning poverty” across the world. As International Children’s Day is around the corner, the fund will launch a charity campaign to build reading corners for and donate books to poor schools around the world.
CoinEx Charity’s first 3 book donation events will take place in Antakya (Turkey), Damascus (Syria), and Bangkok (Thailand) on May 26, May 28, and May 30, respectively, and about 4,000 books will be donated to 7 local schools. Moreover, CoinEx Charity has also purchased bookshelves to build reading corners for each school. In June, the campaign will arrive in 8 countries, covering Vietnam, Indonesia, Nigeria, Malaysia, India, Brazil, Germany, and South Korea, with a total of about 9,000 books to be donated. During the campaign, it is expected that 13,000 books will be donated and charitable reading rooms will be built to provide more and better learning spaces for poor children, allowing them to read and learn with passion anytime, anywhere. Powered by an ocean of books, children will be inspired to find their dreams and strive for a better future.
CoinEx Charity has partnered up with the Syrian children’s aid organization Youth Association and the Malaysian charity MUDA Cheras, and will jointly host the campaign in Syria and Malaysia with its partners. This is the first cooperation between CoinEx Charity and an international charity organization. These new partners will expand the influence of the campaign and encourage more caring individuals and charitable organizations worldwide to join hands in improving children’s learning environment with the power of charity. CoinEx Charity also looks forward to building long-term, sustainable partnerships with more charitable organizations in the future. Together with its partners, CoinEx Charity will gather more momentum to convey the message of love and warmth and help more children grow up healthily and happily.
Respond to the international call & venture into charitable education
Books open up an unexplored continent of imagination, and the increased access to books allows children to become more competent, which creates level playing fields across the planet. UNESCO, the World Bank, and the International Commission on Financing Global Education Opportunity are all calling for expanding the supply of books in schools around the world to improve learning conditions. CoinEx Charity actively responds to the international call and devoted more resources to charitable education to help poor schools improve the learning environment for children. Though they might seem small, books serve as a window on a broader world for children and help them realize their dreams.
During the campaign of Book Donation Worldwide, CoinEx Charity will donate over 10,000 books to impoverished schools in 11 countries to pass on love and knowledge. It also hopes to encourage more governments and charities around the world to help more schools build libraries and provide students with a decent learning environment via the power of charity. Education can transform children’s futures, thus making the world a better place.
The Next Generation Of Blockchain Games Can Take A Few Pages Out of Cryptopia’s Book
Several aspects of play-to-earn gaming can draw in a mainstream crowd.
A long-term developer vision combined with no upfront investment requirements is an excellent place to start. Cryptopia wants to highlight those aspects and more through its blockchain gaming venture.
Gaining Traction is Essential
Despite the growing popularity of play-to-earn gaming, most projects have one crucial flaw in common. They all require players to either make an upfront investment or hold their rewards for long periods in the hopes of prices going up. While that is a sensible economic model, it also prevents the mainstream from embracing these projects from day one. Instead, most play-to-earn games only cater to existing crypto users rather than those looking to venture into the world of cryptocurrency through blockchain gaming.
Cryptopia takes a different approach. It is one of the few games merging free-to-play and play-to-earn mechanics. That is nothing new, yet the games providing this option often lack content or user retention. Cryptopia provides multiple game modes for players to earn rewards and monetize in-game resources to counter those issues. Becoming an Adventurer or a Tycoon – or a hybrid of the two – as the player defines how they want to approach this virtual world.
Blockchain gaming is the embodiment of decentralisation through a distributed ledger. Unlike server-based games, blockchain-based projects remain free from censorship, government intervention, or third parties controlling the gaming world. Instead, all players get to participate in voting and governance, with a direct line of communication between games and developers in Cryptopia.
Moreover, it enables players to explore unlimited possibilities as to how they want to experience this game environment. An extra benefit is how all actions have consequences in Cryptopia. Any decision made by any player can change the game forever, not just for them but for all gamers. It is a benefit of being 100% on-chain for all gaming purposes, ensuring the unexpected can happen at any moment.
Multiple Game Modes Are Needed
Another aspect holding back blockchain gaming today is how games are seemingly one-dimensional. For instance, a game is either player-vs-environment or play-vs-player oriented. While some projects offer both game modes, it often requires compromising on one or both. Finding a balance between the two is never easy, but developers can explore other options. Games shouldn’t shoehorn people into one or two default options. Instead, gamers should be able to forge their own paths.
That option is now available through Cryptopia. Players can shape the overall experience to their liking. Some will want to quest and battle foes in the Adventurer mode. Others want to maximise their earnings and passively create wealth by buying land plots and extracting the resources, which can be sold as tokens. The third type of player may combine both elements and forge a very interactive gaming experience. The choices are virtually limitless, and no one needs to make any upfront investment to begin playing.
Being an Adventurer ensures players can engage in quests, professions, building, and enhancing your character’s skills. Highly-skilled players can take on harder quests, gain better rewards, and so forth. It is then up to players to maximise those rewards, either for themselves or through other players. An Adventurer/Tycoon hybrid is certainly possible for those looking to put their earned rewards to use.
The Tycoon option revolves around building and expanding one’s personal decentralised finance empire. Players acquire land tiles, extract resources, and either sell them or use them to produce other tokens – which they can also trade. Owning adjacent land tiles by players of the same faction establishes a faction zone. A larger faction zone results in better-functioning buildings, making it a worthwhile option for those looking to tap into a passive revenue stream.
Cooperation And Transparency
One may argue that there won’t be sufficient affordable land tiles in Cryptopia after a while. The developers thought of that and ensured players could cooperate. More specifically, any player can set up a publicly-traded company to purchase land. Other players can buy shares of the company and share mined resources or other earnings in a corporate manner. Players can buy fractional shares, too, ensuring this option remains accessible and affordable to everyone.
Building a vast blockchain game and economy requires trust and transparency. Cryptopia makes sure there are no pre-mined coins, unfair advantages, token supply shenanigans, or anything else. The game’s code is visible through smart contracts accessible via GitHub. That transparent approach is crucial when building a play-to-earn game accessible by anyone without having to use external software or having specific skills.
Conclusion
The evolution of play-to-earn gaming is exciting. Whereas the first generation focused on rewarding early adopters and investors, projects like Crytopia highlight how games should be for everyone while still providing a personalized gaming experience. Gamer empowerment is about more than in-game items, as every player needs to feel welcomed and needed, regardless of how they want to explore the game world.
Moreover, one can only hope to see more free-to-play play-to-earn games emerge. Attracting mainstream users requires removing any barriers to entry. Expecting people to own cryptocurrency and be familiar with Web3 wallets like Metamask is not viable. This industry needs more of a seamless experience with potential rewards, personalization, and transparency.
Gloomy Crypto Future? Book Author Warns We’re In The Biggest Bubble In History
Famous “Rich Dad, Poor Dad” author Robert Kiyosaki has predicted a bleak future for the economy and the crypto market.
He says we live in the largest bubble in human history — with stocks, real estate, commodities, and oil all experiencing bubbles.
Kiyosaki added that hyperinflation and despair are on the table as well.
Crypto Prediction
The book author predicts that the US government will seize all cryptocurrencies when US President Joe Biden signs an executive order on cryptocurrency — which the President did, on Wednesday.
Bitcoin is out, he writes, and a “Fed crypto” will be launched following the signing of Biden’s EO.
Kiyosaki has warned of depression in the past, and this is no exception. As recently as December of last year, he cautioned that a major economic disaster was in the offing.
Related Article | Massive Amount Of ‘Sleeping’ Bitcoin Moved After More Than 11 Years In Hibernation
Decentralized cryptocurrencies such as bitcoin and ether cannot be frozen or seized inside the network itself.
“This is why he is so enthusiastic about bitcoin,” according to US Senator Ted Cruz.
Biden Signs Crypto EO
Biden’s crypto directive is aimed at creating a “national strategy for digital assets across six important goals.”
A government strategy to manage the dangers and utilize the potential advantages of digital assets is outlined in the executive order, among other key factors.
The presidential order asks the Treasury and other agencies to “review and produce policy recommendations” to “protect US consumers, investors, and companies.”
Related Article | Bitcoin On Course To Hit 0K Nine Months From Now, Bitbull CEO Predicts
Biden’s executive order also calls for a report on the future of money and payment systems by the secretary of the Treasury.
The second objective is to “maintain financial stability in the United States and across the world.”
Crypto total market cap at .736 trillion on the daily chart | Source: TradingView.com
The Treasury’s Role
Treasury Secretary Janet Yellen says the Treasury will expand upon the National Risk Assessments, which highlight crucial illicit financing concerns linked with digital assets under the presidential order.
As the fourth objective, the Department of Commerce is being directed to develop an adequate framework to “advance US leadership in technology and economic competitiveness to strengthen US leadership in the global financial system.”
A Danger To The Financial Market?
For his part, Cornell University economics professor Eswar Prasad discussed Biden’s EO on cryptocurrency regulation with CNBC.
Prasad has warned about the dangers of bitcoin to the stability of monetary and financial markets.
He said the goal behind the executive order is to “start thinking about the usefulness of these diverse assets and technologies and thus govern them.”
Meanwhile, Kiyosaki said he plans to “be an entrepreneur as a second option.”
“Stay out of the stock market, construct your assets, and utilize debt as $,” he said.
Featured image from Intelligence Squared, chart from TradingView.com
NewsBTC