Follow the unveiling of the new Global Financial Infrastructure with me!
by Adi Shemesh
September 22, 2024 (החלק על ישראל כתוב בעברית ונמצא בסוף)
If you have attended one of my lectures or used my Crypto Kit, you are now witnessing the exposure of what you already know :) Interested but this post feels like a new language? Use my free Crypto and Economics Dictionary in HEBREW
For my previous post, visit here.
TLDR at the bottom of the post!
More and more crypto-related financial instrument requests
Nasdaq got approval to track Bitcoin Options
The SEC (Securities and Exchange Commission) has approved Nasdaq's application to list and trade options on BlackRock's iShares Bitcoin Trust (IBIT) ETF. This move is significant as it expands on existing futures and ETFs, offering a new financial tool for traders, and crypto integration into traditional finance products.
[Learn about it from the source itself]
Grayscale has officially launched its XRP Trust
The trust is now open for daily subscriptions by eligible individual and institutional accredited investors, offering them exposure to XRP. This is the first ever XRP Trust in the U.S. [Learn about it from Greyscale's Press Release]
XRP Futures Contract Filed (filed, not approved)
The Commodity Futures Trading Commission (CFTC) has received a filing for an XRP futures contract. An approval will allow institutional investors to hedge their positions and speculate on the future price of XRP. (The CFTC is responsible for regulating the U.S. derivatives markets.)
[View the filing made and published by Bitnominal]
Visa is becoming a significant Crypto Player
Visa has updated its debit card features, allowing users to deposit and withdraw funds directly to their bank accounts using their Visa debit cards, with the option to access crypto from compatible DeFi wallets. [Reported by Cointelegraph]
Visa has partnered with HSBC and Hang Seng Bank to introduce tokenized deposits as a pilot. Tokenized deposits involve converting traditional deposits into digital tokens on a blockchain, facilitating faster transactions and improving security while maintaining the backing of the underlying assets. It was not mentioned which blockchain, by the way.
I strive to differentiate between significant banks and smaller institutions, as cryptocurrency is poised to disrupt the traditional banking system (if I'm being extremely gentle with my words). I expect the largest banks, which account for approximately 60% of the market (including HSBC and Hang Seng Bank), to remain stable, while smaller banks... well... time will tell. [Download HSBC's official announcement]
Crypto Drama
Ton Network Crashes Due to Overload; Binance and Bybit Suspend Trading in Toncoin
he Ton network experienced a crash due to overwhelming traffic, prompting Binance and Bybit to halt trading in Toncoin. And why is this interesting to me? Just as an example. I included this here since this is not a rare occasion in crypto exchanges. When trading is heavy, things don't always work as you would expect. Make sure to do your shopping before everyone else does. You'll also get better prices this way.
Also, it's recommended to use multiple services across different categories so you can ensure you have an option in real time, without the need to create new accounts and move money from one place to another.
Presidential Crypto and U.S. Government Developments
Trump and his family have announced that they are launching a new Crypto venture called World Liberty Financial.
World Liberty Financial is a DeFi (Decentralized Finance) service platform. DeFi platforms allow to borrow and lend crypto without traditional bank intermediaries. Trump's platform will have its own Crypto currency called WLF.I. Regarding ownership, it was initially reported that 70% of the equity would be reserved for Trump family members and close associates, with 30% available for public sale. But the numbers have changed since and might continue to do so based on public opinion. Trump made the announcement during a live session on X Spaces (formerly Twitter Spaces).
Kamala Harris publicly referred to cryptocurrency in a positive way (probably for the first time eve, as I couldn't find any other reference on the internet).
Harris pledged at a fundraiser in Manhattan on September 22nd to "encourage innovative technologies like AI and digital assets while protecting our consumers and investors".
[As reported by Yahoo Finance and others]
As many of you may recall, I anticipated that both Donald Trump and Kamala Harris would ultimately shift their positions on cryptocurrency after initially opposing it. While I do not claim to possess any prophetic abilities, this evolution was almost inevitable based on cold research. The global landscape is rapidly transforming, with the United States and other nations racing to adopt and integrate cryptocurrency into their financial systems, aligning with the global agenda to reshape financial infrastructure, driven by international organizations such as the Bank for International Settlements (BIS) and the International Monetary Fund (IMF).
Louisiana has become the first U.S. state to accept cryptocurrency payments for government services.
for government services. cryptocurrency payments, making it the first U.S. state to do so for government services.The first cryptocurrency payment was processed on September 17, by the Louisiana Department of Wildlife and Fisheries. (Accepted currencies: Bitcoin, Bitcoin Lightning Network, USDC). [According to multiple sources, it was announced by Louisiana in a press release, sent to different news outlets. Here's the one from Forbes]
ישראל
דרמת ביטול שטרות המאתיים:
יצאו כתבות בעיתונות המודיעות על כך שהתקבלה החלטה לבטל את שטרות המאתיים.
מה שפוספס ע״י רוב האוזניים, הוא הסעיפים הנוספים בהחלטה שהם הקריטיים בעיני:
ביטולו המוחלט של המזומן באמצעות צמצום הדרגתי תוך מספר שנים.
אנשים שיביאו את ההון שלהם לבנקים יצטרכו להסביר את מקורו ולשלם עליו מס.
אזכיר לכם שכשאנחנו נותנים לבנק כסף, אנחנו בעצם מלווים לו. מה שהופך את הסיפור הזה בנוסף להרבה סיבות נוספות, להלוואה בתנאים גרועים בהחלט...
צפויה הגברת הפיקוח על העברות כספים ותנועות חשבון.
הפחתת סכומים הדורשים אישור מראש של רשות המיסים מ-25,000 ש"ח ל-5,000 ש"ח
ולעוד קצת קונטקסט חשוב כדי שנבין מי מוביל את המהלך הזה:
הגוף שהוביל את המהלך הוא הרשות לאיסור הבנת הון ומימון טרור.הרשות היא יחידה בתוך משרד המשפטים המהווה את הרשות הממלכתית למודיעין פיננסי. ראש הרשות ממונה על ידי שר המשפטים בהסכמת הממשלה.
כשבפרק הבא של ה Triweekly Update נדבר על כך שבנק ישראל ״עצר״ את המהלך, רצוי שנהיה בתשומת לב לכך ה״עצירה״ הזו לא משנה את זה שהמהלך כבר החל לפעול ולהתממש ברגע שיצאה ההודעה עצמה. נסביר זאת במפורש כשנדבר על זה :) מוזמנים להמשיך ולעקוב.
כמו בפרק הראשון, גם בישראל אנחנו מתחילים לראות את חברות התשלומים של ״העולם הישן״ מתחילות לגעת בקריפטו.
ויזה Max השיקה את כרטיס ה Pay back בביטקוין שלה. התופעה רק תלך ותגדל, ולא לא צירוף מקרים בגלל ההייפ של קריפטו. זה תמיד קשור לרגולציה מאחורה- אצלנו זה סביב ״חוק התשלומים״ כרגע.
That's all for now!
Thank you for reading and joining the journey of discovering the new global financial system!
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
Researcher and Guide 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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