Venezuelan opposition leader María Corina Machado has proposed adopting Bitcoin as a national reserve asset to combat the country’s severe inflation and economic instability, which she blames on past government mismanagement. She argues that Bitcoin serves as a vital tool for citizens to protect their wealth and could aid in recovering stolen assets while supporting the poorest. Machado envisions a future where Bitcoin ensures transparency, property rights, and economic freedom as Venezuela seeks to rebuild from years of dictatorship.
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0 posts last weekBinance Authorized to Invest Customer Funds in US Treasury Bills
A US court has authorized Binance to invest client funds in US Treasury Bills, aiming to support the US dollar against de-dollarization initiatives. The use of stablecoins, such as Tether, to purchase and hold US debt instruments is highlighted as a potential strategy to maintain the US dollar’s strength in international trade. Former US House speaker Paul Ryan also emphasized the role of stablecoins in easing the debt issue and supporting the US dollar.
read moreBinance Receives Court Approval to Invest Customer Funds in US Treasury Bills
A US court has granted Binance permission to invest customer funds in US Treasury Bills through a third-party manager, with the condition that the funds are not reinvested in the company. This move is seen as potentially bolstering demand for the US dollar amidst de-dollarization efforts by BRICS nations, with stablecoins like Tether holding significant amounts of US Treasuries to support their dollar-pegged tokens. The use of stablecoins is a topic of debate, with some arguing that they perpetuate the fiat-centric system while others see them as a potential solution to the debt crisis and a means to maintain the US dollar’s competitiveness in global trade markets.
read moreBitwise Pledges 10% of Bitcoin ETF Proceeds to Support BTC Development
Bitwise, a cryptocurrency index fund manager, has pledged to donate 10% of the proceeds from its Bitwise Bitcoin ETF to support BTC’s open-source development. The funds will be directed to three crypto organizations: Brink, OpenSats, and the Human Rights Foundation. This move is in line with the recent approval of the investment product.Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, highlighted the importance of Bitcoin as a technology promoting freedom, especially for financially oppressed individuals worldwide. Bitwise, an early Bitcoin advocate, was among the first to launch ads highlighting the asset and the upcoming spot ETF. The company has also announced a fee waiver for the initial six months or the first $1 billion in assets for the ETF, followed by a low 0.20% fee.Meanwhile, the SEC has approved 11 spot Bitcoin ETFs, authorizing these firms to introduce the first U.S.-listed ETFs that track Bitcoin. These ETFs will be listed on all registered national exchanges in the U.S., including the Nasdaq, NYSE, and CBOE. Trading is set to begin at the CBOE from 9 am on January 11.
read moreBitwise Pledges 10% of Bitcoin ETF Profits to Support BTC Development
Bitwise Asset Management has committed to donate 10% of its Bitcoin ETF profits to non-profits Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund, supporting Bitcoin’s open-source development. This pledge, to be fulfilled annually for a decade, doubles the 5% donation commitment made by VanEck to Brink.
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