In a livestream broadcast on December 19, 2024, Cardano founder Charles Hoskinson delivered new remarks on the conflict with the Cardano Foundation, structural complications, and strategic priorities moving into 2025. “It’s About Governance” Hoskinson began by acknowledging the shift from “governance on paper” to “governance reality” throughout 2024, referencing a series of “deep and significant governance conversations” during the December Constitutional Convention. He highlighted the historical trajectory of the Cardano Foundation’s board composition and jurisdictional issues dating back to 2014, as well as disputes that arose in 2021 and earlier. He described the Foundation’s origins, including the initial founding by Michael Parsons on the Isle of Man and the subsequent relocation to Switzerland. According to Hoskinson, the legal entity known as a “Stiftungsrat” (foundation) had been repurposed from a structure not originally intended for decentralized cryptocurrencies: “The stiff tongue structure, the structure that the Foundation is, was never intended for cryptocurrency foundations.” He noted that attempts were made to transition the Foundation’s jurisdiction to a members-based organization better suited to community oversight and decentralized governance, but these efforts were ultimately thwarted by internal board conflicts and regulatory intervention. Hoskinson further detailed a period in which the majority of the Foundation’s board advocated relocating and restructuring the entity. He stated that a minority faction opposed these moves, initiating a legal dispute. Following a ruling in favor of the majority, an administrator appointed by the Swiss regulator (Eidgenössische Stiftungsaufsicht, ESA) intervened to force board changes. This intervention, according to Hoskinson, effectively allowed the Swiss government, through its administrator, to determine the new board composition. Although he acknowledged potential semantic debates, Hoskinson Cardano Foundation Under Swiss Government Control, Charges Hoskinson : “To me that sounds like the Swiss government appointed the board.” In Hoskinson’s view, the current Foundation structure lacks the most critical element of decentralized governance—community accountability. “I do not believe something that calls itself the Cardano Foundation should be structured in a way where its board can never be held accountable by the Cardano community and its board chooses its own successors,” he stated, adding, “You can never recover from that original sin until you correct it.” Hoskinson added, “My complaint is not about people, it’s about governance.” He described various efforts to create more suitable governance bodies and entities, including the development of Intersect and outreach to other ecosystem contributors. According to Hoskinson, Input Output Global (IOG) encouraged the Foundation to join new organizational structures conducive to community oversight, funding, and inclusive decision-making. However, the Foundation launched its own initiatives, such as Pragma, without providing IOG a corresponding opportunity to participate. Cardano’s Path For 2025 Looking ahead to 2025, Hoskinson underscored two remaining steps for Cardano’s governance transformation: ratifying a community-approved constitution and establishing an annual on-chain budget. Both steps, he noted, would allow for broader participation and resource allocation to ecosystem developers who have been historically underfunded. “We are in a very competitive industry and we have to have the cognizance that we need to spend as an ecosystem to grow and thrive,” he said, urging the community to consider the importance of distributing treasury funds to core builders, innovators, and infrastructure projects. He conveyed concern that the Cardano Foundation, if it voted “no” on the forthcoming budget, could hinder long-term ecosystem growth. While he stated that this would not directly affect IOG’s operations or technology initiatives, it could impact developers and community participants in need of stable, sustainable funding: “If they were subject to community oversight… maybe it’s not a good thing to have so much ADA accumulated voting no for absolutely necessary funds for the ecosystem to grow.” Despite these governance challenges, Hoskinson remained optimistic about Cardano’s trajectory. He reaffirmed IOG’s commitments to adoption, interoperability, and technological advancement independent of on-chain governance outcomes. He highlighted the upcoming Bitcoin integration, enhancements to the Lace wallet, and the anticipated impact of the privacy-focused Midnight sidechain. “Midnight will be the single biggest economic event for the Cardano ecosystem in its history. It’s going to airdrop to more than a 100 million people and build bridges with all the major networks and bring people together,” said Hoskinson. To further strengthen Cardano’s position, IOG plans to enhance core ecosystem functionalities, improve critical tooling and standards, and secure necessary integrations with custodians, wallets, and other platforms. Hoskinson emphasized that IOG would not seek treasury funding for these moves, instead choosing to invest its own resources: “We’re going to get Bitcoin to work with Cardano and we’ll be there at Bitcoin 2025 with a great demo.” At press time, ADA traded at $0.79.
Follow Frank on X . On a recent episode of the Coinage podcast, guest SEC Commissioner Hester Peirce said that she is open to reconsidering in-kind redemptions for spot bitcoin ETFs. (For those who aren’t familiar with the term “in-kind redemption,” it refers to the ability to withdraw the bitcoin you’ve purchased via an ETF into your own custody. In essence, it turns a bitcoin IOU into the real thing.) BREAKING: SEC Commissioner Hester Peirce previews new pro-crypto changes coming to the SEC ETF in-kind redemptions and ability for ETF issuers to begin staking likely done "early on" Both ETFs now have more than $100B in AUM pic.twitter.com/g3jtbuBeWU — Coinage (@coinage_media) December 20, 2024 This makes my heart happy, as bitcoin wasn’t designed to exist trapped within the wrappers of the old system. It was built to set us free from that system. If Peirce can work with the incoming SEC Chair, Paul Atkins, to facilitate the approval of in-kind redemptions then the spot bitcoin ETFs can serve as some of the biggest on-ramps to Bitcoin, as Bitwise co-founder Hong Kim put it , as opposed to simply existing as speculation vehicles. Bitcoin was born to exist in the wild. It wasn’t born to exist in a Wall Street zoo. In-kind redemptions would allow the bitcoin currently trapped within the zoo the ability to return to its natural habitat. This article is a Take . Opinions expressed are entirely the author's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Michael Saylor proposes a Strategic Bitcoin Reserve to create significant economic value. His plan includes empowering businesses and generating trillions in revenue. Continue Reading: Michael Saylor Demonstrates a Unique Mechanism for Creating 81 Trillion Dollars The post Michael Saylor Demonstrates a Unique Mechanism for Creating 81 Trillion Dollars appeared first on COINTURK NEWS .
Cryptocurrency companies Ripple and Kraken have collectively pledged $6 million to support President-elect Donald Trump’s inauguration. Ripple is contributing $5 million in its native XRP token, while Kraken has donated $1 million to the Trump-Vance inaugural committee managing the celebrations. Ripple and Kraken Pledge $6M For Donald Trump Inauguration According to a report by FOX Business , Ripple and Kraken are among the cryptocurrency firms contributing to the record-breaking $200 million inaugural fund. The contributions aim to support the three-day celebration marking the swearing-in of Donald Trump and Vice President-elect J.D. Vance on January 20, 2025. Ripple’s $5 million donation will be made in its native XRP token. This reflects the XRP company’s commitment to advancing its presence in the political landscape. Similarly, Kraken, a top crypto exchange , has contributed $1 million in support of the inaugural events. This marks the first time many crypto companies have participated in funding a presidential inauguration. Additionally, President-elect Donald Trump has acted quickly to deliver on his campaign promises to support the cryptocurrency industry. Trump recently nominated Paul Atkins , known for his crypto-friendly stance, as the next chairman of the Securities and Exchange Commission (SEC). Concurrently, David Sacks has been appointed as the first-ever crypto and AI czar, tasked with bridging the gap between the industry and regulators. Sacks will oversee policy initiatives and head the Presidential Council of Advisors for Science and Technology. Showcasing his crypto-friendly stance, the new crypto czar has already outlined plans to investigate Operation Choke Point 2.0 amid growing industry complaints. David Sacks has pledged to address the concerns highlighted by Coinbase’s release of FDIC “pause letters.” Tech and Crypto Leaders Join Record-Breaking Inaugural Fund The Trump-Vance inaugural committee has already raised $200 million, surpassing all previous records. Major contributions from tech giants like Jeff Bezos, Mark Zuckerberg, and Vlad Tenev, alongside cryptocurrency leaders, underscore the broad support for the event. Each of these tech executives has pledged $1 million or more to the fund. Stressing the importance of crypto industry support for the president-elect, Kraken co-CEO Arjun Sethi told FOX Business, “For the first time, we have a President who truly understands the potential of disruptive technology and embraces the crypto sector. We’re excited to continue to work with President-Elect Trump and his administration to push for long-overdue regulatory clarity and unlock this next wave of innovation.” These developments come as the US appeals court reveals key dates for the Ripple case. The opening brief is scheduled for March 6, 2025, and XRP company’s answering brief is due by April 7, 2025. The court also set deadlines for the mediation questionnaire and appeal transcripts, marking significant steps in the long-running XRP lawsuit. The post Ripple & Kraken Contribute $6M To Donald Trump Inauguration appeared first on CoinGape .
The native token of a decentralized fiat stablecoin-issuing platform is rallying against the dipping crypto markets. Two days ago, the world’s largest crypto exchange by trading volume, Binance, added support for Usual Protocol ( USUAL ). “Binance is excited to announce that Usual (USUAL) will be added to Binance Simple Earn, Buy Crypto, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below.” According to a post on the social media platform X from Usual in response to the Binance listing, the team says the protocol aims to usher in a “stablecoin renaissance”. “9 0% for the Community: Usual is built to empower, with the majority of tokens for users. No VC (venture capital)/Team Dumps: Just 10% allocated to insiders, cliffed for one year. 100% Revenue for the DAO (decentralized autonomous organization): Every $ of revenue belongs to USUAL holders” According to the Usual Protocol’s website , USUAL acts as a governance token performing two major functions: “1. Usual is a multi-chain infrastructure that aggregates the growing tokenized Real-World Assets (RWAs) from entities like BlackRock, Ondo, Mountain Protocol, M0 or Hashnote to transform them into a permissionless, on-chain verifiable, and composable stablecoin (USD0). 2. Usual is built around the redistribution of power and ownership to users & third parties, akin to a scenario where Tether’s TVL providers would own the company and the associated revenues.” USUAL is going for $1.43 at time of writing, up 17% on the day. Meanwhile, the total crypto market cap is down 6% over the same period. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post It’s Not Unusual: Stablecoin Platform Altcoin USUAL Bucks Crypto Downtrend Following Binance Listing appeared first on The Daily Hodl .
The market for Dogecoin (DOGE) is contracting: the memecoin shed more than 25% of its value during the last three days. The broader market is still bearing the brunt of Bitcoin’s crash, worrying both investors and speculators. Related Reading: SUI The Rising Star: Analyst Foresees Over $25 Breakthrough Market Overview: A Sudden Change The recent drop in the value of crypto assets has caused around $787 million to be lost through liquidations of different types of digital assets. Dogecoin, which is often considered as a joke, has been among the hardest hit. Approximately $29 million in DOGE liquidations were recorded recently, with bullish positions suffering the most losses, according to CoinGlass data. In a mere 24 hours, the price of Dogecoin plummeted to a low of $0.34 before ultimately stabilizing at approximately $0.365, a 6.05% decline. Macroeconomic issues influencing more general market movements can help to explain this fall. The Federal Reserve’s concern about interest rate cuts has aggravated bearish attitude. For example, Ethereum and Dogecoin followed suit after Bitcoin’s value dropped to the $94k level. A Closer Examination Of Liquidation Issues Approximately $24 million in bullish wagers on Dogecoin were liquidated in the past 24 hours, while $5.93 million in losses were attributed to short positions. The market’s present extreme volatility is underscored by this wave of liquidations. Dogecoin is currently approaching critical support levels, as noted by analysts. Some analysts have speculated that it could fall below $0.20 if adverse momentum persists. Key support levels for DOGE are being closely monitored by market analysts. The Relative Strength Index (RSI) suggests that Dogecoin may be oversold, which could indicate a potential rebound if traders are able to effectively defend the critical price zones. Related Reading: Solana Poised For Growth In 2025 With Record $173 Million Q3 Funding—Report The Road Ahead For Dogecoin Despite the present challenges, market watchers’ future expectations of Dogecoin remain high. Some analysts believe that DOGE’s capacity to maintain a weekly closing above $0.26 will help to create a recovery rally toward higher goals. Still, the reality of continuous market pressures and unpredictability helps to temper this hope. As they negotiate this stormy terrain, many traders are left wondering how low Dogecoin might fall before it finds solid ground. Given the expected significant price swings in the next days and weeks, all eyes will be on this famous meme coin as it tries to recuperate in the face of a difficult crypto climate. Featured image from DALL-E, chart from TradingView
If more buyers fail to step in as selling pressure increases, MOVE could drop to $0.57.
MicroStrategy Inc. co-founder and executive Chairman Michael Saylor says he is willing to advise Trump on cryptocurrency policy when the crypto advisory council is set. During the Dec. 18 episode of the Open Interest show on Bloomberg Television, Saylor voiced…
MicroStrategy Inc. co-founder and executive Chairman Michael Saylor says he is willing to advise Trump on cryptocurrency policy when the crypto advisory council is set. During the Dec. 18 episode of the Open Interest show on Bloomberg Television, Saylor voiced his willingness to provide his advice on the digital assets policy to President-elect Donald Trump, either publicly or confidently, if he is asked to do so. Before expressing his willingness to advise Trump on the crypto policy, Saylor admitted that he had already met “with a lot of people” in the incoming administration but declined to specify the personalities nor mentioned if he already met Trump. Is Saylor fit for a position? Since the 2020s, Michael Saylor has been one of the key Bitcoin advocates and investors. Saylor is one who puts money where his mouth is, as he personally spent around one billion dollars on BTC. In 2020, Saylor took to X (Twitter at the time) to announce that he personally owns 17,732 bitcoins and that he acquired these coins before MicroStrategy (MSTR) made the first massive purchase of bitcoins. YahooFinance! reports that currently MicroStrategy owns around 440,000 BTC, which is close to a 2% share of the entire BTC supply. MicroStrategy made headlines on the eve of the latest BTC price peak when the company was included in the Nasdaq 100 index. Read more: MicroStrategy to join Nasdaq-100 Index following Bitcoin-driven stock surge Michael Saylor names Bitcoin an apex property of the human race and has an insatiable thirst for bitcoins. He compares Bitcoin to the territories like Manhattan or Alaska that were bought by the early colonist administration, specifying that Bitcoin is rather a kind of cyberspace. That’s why MicroStrategy aims to own bitcoins in bulk. According to Saylor, buying as much of this “space” as possible is crucial for the United States. This vision speaks to the statement posted by Donald Trump on the Truth Social platform. “We want all the remaining Bitcoin to be MADE IN THE USA!” the post reads . Saylor singled out Trump as the most crypto-friendly Republican politician. It seems that Saylor shares the President-elect’s views on Bitcoin. Although not an outright GOP supporter, in September, Saylor made claims that he sees Republicans as a more progressive party when it comes to cryptocurrency regulation. He names regulation pressure decrease, treating crypto as a tool to boost the U.S. economy, and encouraging individuals to pursue their economic aims using digital finance as progressive characteristics of the Republican approach to the crypto industry. What Do We Know About the Crypto Advisory Council? Trump proposed the creation of a crypto advisory council during his now famous speech at the Nashville cryptocurrency conference in July 2024. As of December, not much information about the preparations of this council has been made public. The participating companies’ lineup is not clear yet. However, it has been reported that such brands as Coinbase, Ripple Labs, Paradigm, and Andreessen Horowitz (a16z) are seeking interactions with the incoming administration. Allegedly, an a16z rep was involved in advising the Trump team during the presidential campaign. On December 6, Trump introduced entrepreneur and venture capitalist David O. Sacks as the “White House A.I. and Crypto Czar” via the Truth Social post. It’s worth saying that, to say the least, before 2024, Trump wasn’t an avid crypto enthusiast. In the past , the President-elect made a series of anti-crypto remarks, calling Bitcoin “not money” and saying that the value of cryptocurrencies is based on thin air. However, the 2024 Presidential campaign saw a drastic change in Trump’s stance on crypto. He started to take donations in digital currencies, visited a major crypto conference in Nashville where he promised to make America “a crypto capital of the world,” and made several important proposals concerning the cryptocurrency policy. On top of tax cuts for the U.S. cryptocurrency companies, the removal of Gary Gensler from the SEC, and the creation of the strategic Bitcoin reserve, Trump announced the creation of the advisory body with the leading position granted to the richest man on Earth and his passionate supporter Elon Musk. This unofficial agency is called The Department of Government Efficiency, or simply DOGE, a reference to a legendary memecoin, a notorious soft place of a Tesla CEO . Who knows just what else to expect from Donald Trump when he goes crypto? You might also like: Crypto firms vying for a place on Trump’s ‘Crypto Council’: report
Ripple just dropped $5 million in XRP into President Donald Trump’s inauguration fund. The Trump-Vance inaugural committee reportedly confirmed it, and it’s the largest crypto contribution they got. The fund, which has already hit over $200 million, will fuel a three-day bash celebrating Trump’s win and VP-elect JD Vance. Coinbase and Kraken each pledged $1 million, while MoonPay chipped in too, though they haven’t shared how much. Kraken co-CEO Arjun Sethi told FOX Business said: “For the first time, we have a President who truly understands the potential of disruptive technology and embraces the crypto sector. We’re excited to continue to work with President-Elect Trump and his administration to push for long-overdue regulatory clarity and unlock this next wave of innovation.” Setting new records The inaugural committee has already smashed fundraising records. They’ve blown past the $107 million raised for Trump’s first inauguration in 2017 and Biden’s $62 million in 2021. Insiders say the total could hit $225 million by Inauguration Day. Major names in tech and crypto, like Jesse Powell from Kraken and Marc Andreessen from Andreessen Horowitz, are also on board. They see Trump as a leader who understands blockchain’s potential and are betting he’ll make policies that encourage innovation. The president has already proven that he meant everything he said during his campaign. The Trump administration is stacked. Former SEC commissioner Paul Atkins, known for being an early Bitcoin believer, will take over from Gary Gensler as SEC Chair. He is expected to ease up on crypto regulations. David Sacks is also joining as the first crypto and AI czar. He’ll work on bridging the gap between regulators and the crypto industry while leading the Presidential Council of Advisors for Science and Technology. Other pro-crypto picks include Scott Bessent as Treasury Secretary and Howard Lutnick as Commerce Secretary, both strong supporters of blockchain. Ripple’s moment and XRP’s rise This spotlight on Ripple brings XRP (XRP) back into focus. The token has had a strong year after its legal battle with the SEC ended in a win. A court ruled that XRP isn’t a security, restoring confidence in the token and pushing its price higher. As of press time, it is the fourth-largest cryptocurrency by market cap, trading at about $2.30—up nearly 500% since the legal win. Analysts are watching resistance at $2.58, with targets of $2.92 and $4.50, while support levels sit at $2.35 and $1.96. Ripple also just launched RLUSD, its dollar-pegged stablecoin, on December 16. Approved by the New York State Department of Financial Services, it’s available on both Ethereum and the XRP Ledger. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap