2023-09-21

🎱 Ripple's Bold CBDCs Forecast for 2030!

September 21, 2023

Good morning, beautiful people,Question: Do you look at the crypto charts more than once a day?

Shall we dive in?

🦜 GOP's Crypto Talk
⛰️ Mt Gox Creditors Wait Longer
🔎 Ripple's Digital Insight

🔮 Ramaswamy Reveals Crypto Policy Vision

In a surprising twist at the Mainnet crypto conference, GOP presidential candidate Vivek Ramaswamy declared plans to unveil a “comprehensive crypto policy framework” by this Thanksgiving.

Taking a digital stroll through cryptocurrency's disruptions in traditional finance and the latest SEC rulings, Ramaswamy painted a positive image of blockchain technology.But he didn't mince words about the "three-letter" regulatory agencies, likening them to a troubling "alphabet soup" of unelected power in Washington DC.You're preaching to the choir! 🧝‍♂️As the crypto realm grows in political significance, Ramaswamy's appearance indicates the increasing intersection of politics and digital currency.Ryan Selkis, CEO of Messari, voiced his agreement with the framework's current direction. Will this new focus shift crypto's political alignment?I think we're in for a longer fight TBH...but it's nice news all the same! 😎Only time will tell, but as Ramaswamy's image rises, so too does the importance of crypto in political discussions.

😫 Mt. Gox Delays Repayment Once Again

The crypto community received another blow as Mt. Gox, the once towering crypto exchange, announced a 12-month delay in its planned repayments.

Initially slated for October 31, 2023, the repayment deadline is now rescheduled for October 31, 2024.(six months after the Bitcoin halving...I wonder if that has anything to do with it?)This setback extends the long wait of the exchange's creditors, who have been hanging on for almost a decade.What's another year between "friends?" 🫣In a twist reminiscent of a heist film, Mt. Gox faced a massive hack in 2014, leading to the theft of 850,000 bitcoins, equivalent to a staggering $23 billion today. 💸While the exchange did manage a recovery of approximately 20% of the stolen digital treasure, the incident remains one of the most infamous in crypto history.And while UBS speculated earlier this year that such repayments might ripple through Bitcoin prices, they reassured the market that it wouldn't capsize the BTC ship.

🌪️ CBDCs Take Global Finance by Storm

A world where cash is dwindling and digital money reigns supreme might not be the stuff of science fiction anymore.

The marriage of blockchain tech with a global shift from paper money has opened the floodgates for Central Bank Digital Currencies (CBDCs).Ripple's recent report drops some eye-opening stats: an astounding 90% of central banks are now dabbling in the digital domain of CBDCs.Regardless of your views on CBDCs...they do seem to be the next logical step.

Channelling their inner fortune teller, Ripple predicts a surge, envisioning CBDC transactions reaching a whopping $213 billion by the dawn of 2030.Their "New Value Report" paints a future where over 90% of financial chiefs foresee a revolutionary change thanks to these digital assets within a three-year window.And what's more, 80% are eager to board this crypto train soon. 🚅

And if you're thinking this is just a 'big country' game, think again. While China is certainly flexing with its digital yuan transactions, smaller nations, like Palau, are also wading into the waters, exploring digital potentialities.Sure, there will always be good and bad players...there are in every avenue...most are usually doing things for the right reason. Do you trust your government? 🤔With 114 countries (covering a mind-boggling 95% of the global GDP) diving into CBDC exploration, it seems the world is keen to "cash" in on the future.