Syndicate becomes first DAO to release compliant financials

The post Ripple (XRP) CEO Brad Garlinghouse Heavily Criticizes Wall Street – “Now They Are Coming to Us” appeared on BitcoinEthereumNews.com. Ripple Labs CEO Brad Garlinghouse has slammed Wall Street banks for opposing crypto companies’ more direct access to the Federal Reserve system. Garlinghouse specifically said that resistance to crypto firms obtaining a “Fed master account” is “hypocritical and anti-competitive.” Speaking at the DC Fintech Week event, Garlinghouse stated that the crypto sector “should be held to the same standards” as traditional financial institutions when it comes to combating money laundering and illicit finance, adding, “If we’re talking about the same standards, then we should also have access to the same infrastructure. It’s inconsistent to say one thing and oppose the other.” The Fed’s “master account” system allows institutions to directly integrate into the U.S. financial system and access central bank systems. However, many cryptocurrency companies have struggled due to the Fed’s reluctance to approve such accounts or uncertainty about how the process will work. Ripple recently applied for a “master account” through its subsidiary, Standard Custody & Trust Co. The company also sought a federal bank license from the U.S. Office of the Comptroller of the Currency (OCC) in July. Garlinghouse stated that they have recently held more constructive discussions with banks regarding Ripple’s stablecoin project, RLUSD: “I had meetings yesterday in New York with banks that refused to talk to us three years ago. Now they’re asking, ‘How can we collaborate on this?’” Ripple’s CEO argued that granting crypto firms a master account would provide greater stability, oversight, and risk management in the financial system. “It’s really disappointing that some traditional banks are lobbying against this,” he said. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/ripple-xrp-ceo-brad-garlinghouse-heavily-criticizes-wall-street-now-they-are-coming-to-us/

The post White House Predicts More Than 10,000 Job Cuts appeared on BitcoinEthereumNews.com. Topline The White House could permanently cut more than 10,000 federal workers amid the government shutdown, budget director Russ Vought said Wednesday, just before a federal judge paused the layoffs of federal employees for at least two weeks. The government shutdown stretched on into a thirteenth day Monday. AFP via Getty Images Timeline Wednesday, Oct. 15A federal judge blocked firings the Trump administration has carried out during the shutdown for at least two more weeks, granting a request for a restraining order filed by federal employee unions. Wednesday, Oct. 15Vought said the Trump administration wants “to be very aggressive where we can be in shuttering bureaucracy, not just the funding,” during an appearance on “The Charlie Kirk Show” broadcast from the White House, adding he wants to close the Consumer Financial Protection Bureau within “the next two, three months,” alleging overburdensome regulations on financial institutions. Wednesday, Oct. 15Treasury Secretary Scott Bessent said the shutdown could cost the federal government $15 billion in output daily, warning it was beginning to “cut into muscle” of the U.S. government, he said while speaking at CNBC’s Invest in America Forum, calling on Democrats to “break away” and vote with Republicans to reopen the government. Tuesday, Oct. 14The Senate voted 49-45 in favor of a Republican-backed bill to reopen the government, which needed 60 votes to clear the filibuster. Sens. Catherine Cortez Masto, D-Nev., and Sen. Angus King, I-Maine, voted alongside Republicans, while Sen. John Fetterman, D-Pa., who had supported the measure in the past, was not present and Sen. Rand Paul, R-Ky., was the GOP’s lone “no” vote. Tuesday, Oct. 14The White House budget office said in a post on X it will “continue the RIFs [reductions in force], and wait,” blaming “the Democrats’ intransigence” for the shutdown. The Office of Management and Budget…

BitcoinWorld Crucial Insights: Two Fed Interest Rate Cuts on the Horizon? The financial world is buzzing with discussions around the future of monetary policy, and a recent statement from a key Federal Reserve official has added fuel to the fire. Investors, businesses, and consumers alike are keenly watching for signals regarding potential Fed interest rate cuts and their broader economic implications. What’s Driving Talk of Fed Interest Rate Cuts? Neel Kashkari, the president of the Minneapolis Federal Reserve Bank, recently made headlines by stating his belief that two additional Fed interest rate cuts would be appropriate this year. This isn’t the first time Kashkari has shared this perspective; he expressed a similar view back in August. His comments offer a glimpse into the ongoing internal debates and varying outlooks among policymakers regarding the optimal path for the nation’s economy. Understanding the context behind such statements is crucial. The Federal Reserve uses interest rates as a primary tool to manage inflation and support employment. When inflation is high, the Fed typically raises rates to cool down economic activity. Conversely, when economic growth slows or inflation targets are met, the Fed might consider cutting rates to stimulate spending and investment. How Do Fed Interest Rate Cuts Impact You? The prospect of Fed interest rate cuts carries significant weight for everyone. For instance, lower interest rates generally translate to: Cheaper Borrowing: Mortgages, car loans, and credit card interest rates can decrease, making it more affordable for consumers to borrow money. This can encourage home buying and larger purchases. Business Investment: Companies find it less expensive to borrow for expansion, new projects, and hiring, potentially boosting economic growth and job creation. Stock Market Performance: Lower rates can make bonds less attractive, pushing investors towards stocks, which might see increased valuations. This can also signal a more optimistic economic outlook. Savings Account Returns: On the flip side, interest rates on savings accounts and Certificates of Deposit (CDs) might also fall, offering lower returns for savers. These ripple effects touch various sectors, from housing to retail, and even extend into the cryptocurrency markets, where investor sentiment is often influenced by broader economic conditions and liquidity. Navigating the Economic Landscape: Why Are Policymakers Divided on Fed Interest Rate Cuts? While some policymakers, like Kashkari, see the appropriateness of multiple Fed interest rate cuts, others may hold different views. The Federal Reserve’s decisions are complex, balancing the need to control inflation with the goal of maintaining maximum employment. Key factors influencing these decisions include: Inflation Data: The pace at which inflation is returning to the Fed’s 2% target is a primary concern. Sustained progress is needed. Employment Figures: A strong job market might give the Fed more leeway to keep rates higher for longer, whereas signs of weakness could prompt cuts. Global Economic Conditions: International economic trends and geopolitical events can also influence the Fed’s domestic policy decisions. Market Expectations: The Fed also considers how financial markets are pricing in future rate movements, aiming to avoid undue volatility. The path forward is rarely straightforward, and the Fed’s approach is often described as data-dependent, meaning decisions can shift as new economic information becomes available. The Outlook for Future Fed Interest Rate Cuts Kashkari’s consistent view on two Fed interest rate cuts this year provides an important perspective, but it’s essential to remember that he is one voice among many on the Federal Open Market Committee (FOMC). The committee as a whole determines monetary policy through a consensus-driven process. As the year progresses, market participants will be closely monitoring upcoming inflation reports, employment data, and official Fed statements for further clarity. The timing and magnitude of any potential rate adjustments will significantly shape the economic environment, influencing everything from investment strategies to everyday household budgets. In summary: Neel Kashkari’s consistent advocacy for two Fed interest rate cuts this year highlights a potential shift in monetary policy. These cuts, if they materialize, could offer relief to borrowers, stimulate economic activity, and impact various markets. However, the ultimate decision rests with the broader Federal Reserve committee, which weighs a multitude of economic indicators before acting. Frequently Asked Questions (FAQs) Q1: What does it mean when the Fed cuts interest rates? When the Federal Reserve cuts interest rates, it generally means they are reducing the cost for banks to borrow money. This, in turn, often leads to lower interest rates for consumers and businesses on loans like mortgages, car loans, and credit cards, aiming to stimulate economic activity. Q2: Why would the Fed consider two Fed interest rate cuts this year? The Fed might consider two interest rate cuts if they believe inflation is consistently moving towards their 2% target, or if there are signs of slowing economic growth that could benefit from stimulation. Policymakers like Kashkari may feel the current rates are too restrictive given the economic outlook. Q3: How quickly do Fed interest rate cuts affect the economy? The effects of Fed interest rate cuts can be seen relatively quickly in financial markets, but they typically take several months to fully filter through to the broader economy, impacting consumer spending, business investment, and inflation. Q4: Will Fed interest rate cuts impact my cryptocurrency investments? While not a direct impact, Fed interest rate cuts can indirectly affect cryptocurrency markets. Lower traditional interest rates might make riskier assets like cryptocurrencies more attractive to investors seeking higher returns. Additionally, a more liquid and stimulated economy can sometimes boost overall market sentiment, benefiting crypto assets. Q5: Who is Neel Kashkari? Neel Kashkari is the president of the Federal Reserve Bank of Minneapolis. He is one of the twelve regional Federal Reserve Bank presidents who contribute to the Federal Open Market Committee (FOMC) discussions, which set the nation’s monetary policy. Did you find this article insightful? Share your thoughts and help others understand the potential impact of future Fed decisions! You can share this article on your favorite social media platforms. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Insights: Two Fed Interest Rate Cuts on the Horizon? first appeared on BitcoinWorld.