by Adi Shemesh
August 8, 2024 If you have attended one of my lectures or used my Crypto Kit, you are now witnessing the exposure of what you already know :)
For my previous post, visit here.
TLDR at the bottom of the post!
Japan’s Stock Market Crash
The Nikkei 225 has crashed. The Japanese stock market recorded its most severe drop in 37 years!
It’s an opportunity to mention that Japan is the number one country in the size of its US Treasury Holdings. As of April/May 2024, Japan held approximately 14% of foreign-owned U.S. debt, totaling $1.13 trillion.
BlackRock is Proceeding Towards the Center Stage of the Global Economy
BlackRock gets its own topic this time, as quite a few things happened with them that I find interesting to know.
For those who are not familiar with BlackRock, they are one of the three largest holders of all S&P 500 companies, and the largest Asset Manager in the world. BlackRock currently manages over $10 Trillion in assets, which is about 40% of the U.S. GDP.
In June, it was reported by The Dallas Morning News that BlackRock, Citadel, and a few other investors have invested $120 million in capital in The Texas Stock Exchange (TXSE), a new stock exchange founded last year that aims to compete with the New York Stock Exchange. (Big deal)
When you combine this with what Larry Fink, BlackRock’s CEO, said about tokenization, the news becomes even more interesting. His quote: “Every stock, every bond, will be tokenized on a ledger.”
Are these two related? I would be extremely surprised if not.
The new stock exchange plans to start facilitating trades in 2025 and host its first listing the following year, according to multiple outlets.
Larry Fink also said in a CNBC interview in mid-July that he’s a “major believer” in Bitcoin and called Bitcoin “Digital Gold.” [Watch the CNBC interview]
If you are following the silent reform of the global financial infrastructure or my content, you should be aware by now that for a long while now, the establishment has been positioning and marketing Bitcoin as digital gold. Now, Fink is openly calling it that, “changing” his mind about Bitcoin. Surprised? You shouldn’t be if you follow the right narrative.
The American Regulator: A New Bitcoin Bill Proposal, the Ethereum ETF, and the Ripple Trial
In the last Triweekly Update, I shared information about the proposed bill to allow the payment of certain federal taxes with Bitcoin.
Only a couple of weeks later, we now have a new bill proposal by Senator Cynthia M. Lummis, for the U.S.A to hold a Bitcoin reserve in order to cover the U.S. debt, which is currently around $35 trillion, among other goals.
[Learn about the Bill Proposal from the source itself]
Isn't that a brilliant move in the context of the biggest transformation of wealth in human history narrative we have been following??
The trial of the SEC against Ripple has (almost) come to an end today! The Securities and Exchange Commission, the American regulator, sued Ripple, the company behind XRP, years ago. XRP is one of the main ledgers and currencies in the emerging financial infrastructure. When they sued, many worried XRP holders fled. The charges of improperly selling XRP came with a demand for Ripple to pay penalties of $2 billion. Today, the court has reduced the penalties to only $125 million, around 94% less than the original requirement. The SEC has 60 days to appeal (and is expected to do so).
It might be worth mentioning here, that many things effect the price of XRP and all crypto tokens. You might find it surprising that the trial is not a significant one. Want to know what does? drop me a comment below.
On July 23, the SEC gave its final approval for the first spot Ethereum ETFs to start trading. If you want to get a hint of what I think about the Ethereum ETF and Ethereum in general, you are welcome to visit my last blog post.
And just to connect some dots, Blackrock of course is one of the few companies globally that are allowed to have a Crypto ETF, and hold both a Bitcoin and an Ethereum one.
Practical Tokenization
One of the main characters publicly speaking about the tokenization of every single asset is BlackRock’s Larry Fink, as mentioned above, but he is not the only one. When will we see this happening? Keeping our eyes on the ball, we will note that it is being discussed that tokenized U.S. Treasury Bills will go on a decentralized ledger. Guess which one? XRP, of course, from this Triweekly Update story 🙂
Tokenization platform OpenEden has announced that it will bring tokenized U.S. Treasury Bills (T-bills), a short-term U.S. government debt obligation backed by the U.S. Department of the Treasury, to the XRP Ledger (XRPL) and its users for the first time. [Learn about it from the source itself]
Israel
Something extremely significant happened in Israel actually, as the new Payments Reform passed in June. And now - we are also able to learn much more about it, as the videos from the conference on the topic that was held by the Central Bank of Israel and the Israel's Securities Authority (הרשות לניי״ע) have been released on Youtube. And by "learn more from it", I mean learning about the intention behind the new law, the partners, the relation to other significant global players and more. I will be covering it in another blog post coming out soon, and this time in Hebrew. You are welcome to subscribe to my newsletter to get notified about it.
That's all for now!
Thank you for reading and joining the journey of discovering the new global financial system and some treasures along the way!
Adi
For my previous post, visit here.
Want to know more about something? Leave a question in the comments section to let me know, and I'll be sure to answer.
TLDR:
This is a crazy time to be alive. Everything around us seems to be in chaos, and the old world’s infrastructure is loudly falling apart.
Yet, quietly, the new infrastructure of the global financial system is emerging.
This very system which determines how we interact with everyone and everything in terms of value and ownership. It’s hard for us to imagine a world without it.
Unbelievable? Sounds exaggerated?
This massive change, meticulously managed for at least a decade, is being communicated to most of the world's population slowly and in drips.
Those who are wise enough to recognize what is happening and acquire knowledge about it can win big.
You are welcome to follow my blog, visit the website, and learn about the transition of the global economy from an analog to a decentralized digital infrastructure, and its implications.
Knowledge is power, immense power.
Feel free to join and receive the triweekly update email, hear about upcoming open lectures, and discover new products on the site.
Adi Shemesh
Consultant and researcher in strategy, economics, and technology. Founder of the startup Trench and its complementary fashion currency Diamond, formerly with the Central Bank of Israel.
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