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Haseeb Ali Taas
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#AbuDhabiStablecoin Abu Dhabi's institutional giants, ADQ, First Abu Dhabi Bank (FAB), and International Holding Company (IHC), have partnered to launch a dirham-pegged stablecoin pending regulatory approval. This initiative aims to position the UAE as a global leader in blockchain innovation and strengthen its digital financial infrastructure. *Key Features:* - *Backing and Regulation*: The stablecoin will be fully backed by the Emirati dirham and regulated by the Central Bank of the UAE. - *Blockchain*: It will operate on the ADI blockchain, developed by the ADI Foundation, a nonprofit organization dedicated to advancing blockchain adoption. - *Use Cases*: The stablecoin will support various applications, including: - *Machine-to-Machine Transactions*: Enabling automated payments between devices. - *Artificial Intelligence Integration*: Facilitating AI-driven transactions. - *Traditional Financial Transactions*: Serving retail consumers, businesses, and large institutions. *Partnership Details:* - *ADQ*: Abu Dhabi's sovereign wealth fund, focused on critical infrastructure and global supply chains. - *FAB*: The largest bank in the UAE, formed through the merger of First Gulf Bank and National Bank of Abu Dhabi. - *IHC*: A leading investment firm and conglomerate with ties to Abu Dhabi's ruling family, valued at over $243 billion ¹ ². This development is part of the UAE's broader efforts to enhance its digital finance ecosystem and promote blockchain adoption ³.
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#ArizonaBTCReserve Arizona has taken a significant step towards becoming the first US state to establish a Bitcoin reserve. The state's House of Representatives passed two bills, SB 1025 and SB 1373, which would allow the state to invest up to 10% of its public funds in Bitcoin and other digital assets. *Key Details:* - *Investment Limit*: Up to 10% of Arizona's $31.5 billion in public funds, approximately $3.14 billion, can be invested in digital assets. - *Digital Assets Strategic Reserve Fund*: This fund will hold seized crypto assets and future appropriations, with a focus on high-liquidity and high-security instruments. - *Potential Impact*: If fully implemented, Arizona's Bitcoin reserve would acquire around 31,000 BTC, making it the second-largest institutional Bitcoin holder in the US. - *Current Status*: The bills are awaiting Governor Katie Hobbs' signature to become law. *Potential Benefits and Concerns:* - *Increased Adoption*: Arizona's Bitcoin reserve could set a precedent for other states and sovereign governments to explore similar initiatives. - *Economic Growth*: Investing in Bitcoin could potentially drive economic growth and increase returns for the state. - *Risk Management*: The bills emphasize the need for standardized risk controls and fiscal responsibility to protect public funds from volatility. *What's Next?* The fate of Arizona's Bitcoin reserve bills now rests with Governor Hobbs, who has not yet signaled her position on the bills. If signed into law, Arizona would become the first US state to formally hold Bitcoin in its treasury ¹.
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#TrumpTaxCuts President Trump's tax cuts, also known as the Tax Cuts and Jobs Act (TCJA), were enacted in 2017 and are set to expire in 2025. Here's what's happening with the Trump tax cuts ¹: - *Extension Plans*: President Trump has called for permanent extension of the 2017 tax cuts, which would decrease federal tax revenue by $4.5 trillion from 2025 to 2034. The House and Senate have passed budget resolutions to start the reconciliation process, with the House allowing a $4.5 trillion increase in the deficit from tax cuts over the next decade. - *Economic Impact*: Extending the TCJA would boost long-run GDP by 1.1% and increase after-tax incomes by 2.9%. However, it would also increase the budget deficit and push up interest costs by an estimated $941 billion. - *Proposed Changes*: Trump has proposed additional policies, including: - *No taxes on tips*: Exempting tips from income tax - *Overtime pay exemption*: Exempting overtime pay from income tax - *Social Security benefits exemption*: Exempting Social Security benefits from income tax - *Auto loan interest deduction*: Creating a deduction for auto loan interest for American-made cars - *Tariffs*: Imposing new tariffs on US imports, which could offset the economic benefits of the tax cuts - *Concerns*: Economists worry that extending the expiring provisions would boost inflationary pressures and worsen America's fiscal trajectory, adding $4.6 trillion in deficits over 10 years. It's worth noting that the TCJA has been analyzed by the Tax Foundation, which estimates that Trump's proposed tariffs would offset more than two-thirds of the long-run economic benefit of his proposed tax cuts ².
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$XRP XRP is currently trading at $2.26, with a 2.87% increase in the last 24 hours. Its market capitalization stands at $130.19 billion. Here are some key statistics ¹: - *Current Price*: $2.26 - *Market Cap*: $130.19 billion - *Open Price*: $2.20 - *High Price*: $2.27 - *Low Price*: $2.16 - *Previous Close Price*: $2.20 *Trading Platforms:* XRP is available on various cryptocurrency exchanges, including ² ¹ ³: - *Binance*: $2.22 - *KuCoin*: $2.22 - *Kraken*: $2.22 - *Bybit*: $2.22 - *OKX*: $2.22 *Price Predictions and Trends:* - *Short-term prediction*: Analysts predict a short-term price of $2.50 - *Bearish forecasts*: $1.97 in one month and $1.65 in three months - *Yearly performance*: XRP price increased by 330% in the last year, outperforming 93% of cryptocurrencies *Additional Information:* - *Circulating supply*: 58.44 billion XRP - *Max supply*: 100 billion XRP - *Yearly inflation rate*: 5.82% ² ⁴
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#XRPETF However, I can tell you that XRP is a cryptocurrency associated with Ripple, a company that provides cross-border payment solutions. If you're interested in learning more about XRP or cryptocurrency ETFs in general, I'd be happy to help with that. Would you like to know more about: - *Cryptocurrency ETFs*: Exchange-traded funds that track the price of cryptocurrencies like Bitcoin or Ethereum? - *XRP and Ripple*: The company behind XRP and its uses in cross-border payments? - *Investment Opportunities*: Other investment options in the cryptocurrency space? Let me know, and I'll do my best to provide more information ¹.
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