As if that wasn’t enough, MOVE’s price has done the crypto equivalent of a nosedive. In the last 24 hours, it’s dropped a delightful 15%—because who doesn’t love a good crash? From the heady heights of *almost* $0.25, it now languishes at the dizzying figure of $0.20. It’s like watching a stock market ballet, if you have a penchant for the tragic. 🥴
The letter, dropped May 2, 2025 (because deadlines are real in Washington), zeroes in on all the glamorous stuff—trading, clearing, settlement, custody. Imagine Wall Street, but with more acronyms and slightly less caffeine. The membership reads like a “Who’s Who of Crypto,” starring Coinbase, Ripple, Uniswap Labs, and probably that one guy who won’t stop talking about Bitcoin at your cousin’s wedding.
As a crypto investor, I’ve come across discussions suggesting that there exists a covert version of the XRP Ledger where banks anonymously transfer billions without raising eyebrows. However, I find it important to clarify that this isn’t mere speculation or a conspiracy theory. In fact, what was announced by Ripple in 2021 as the private iteration of the XRP Ledger is known as the ‘CBDC Private Ledger.’ This isn’t just the public XRPL hidden under wraps; it’s an entirely separate entity designed to cater to specific needs within the banking sector.
How did they manage to trip over this digital cesspool, you ask? They were already rummaging through Eisenberg’s digital footlocker after his 2022 big-brain move on Mango, that ill-fated decentralized trading playground. Eisenberg’s playbook: inflate Mango’s price like a balloon at a child’s birthday party, boost his own collateral past the moon, and gleefully vacuum up the cash. Mango was left with a debt hole the size of a small island. Fancy crypto shenanigans, all told.
The ever-dapper Axel Adler has taken to the proverbial stage with a flourish, presenting a glittering insight: the YoY True MVRV (Market Value to Realized Value, for those who prefer their acronyms as cryptic as their wallets) has donned its positive trousers once again. Translation for the sherry-soaked in the back row: if you bought your Bitcoin last year, you’re suddenly a genius, as the price is now above what you paid. Time to practice smug expressions in the mirror.
In what can only be described as a wild departure from traditional business strategies, Freight Technologies, Inc. (Nasdaq: FRGT) is diving headfirst into the meme coin world. Instead of hoarding Bitcoin like everyone else, they’re picking up the official TRUMP token. And if you’re wondering if this is a joke… well, it’s not. They’ve gone and entered a convertible note agreement with an institutional investor worth up to USD $20 million. That’s right, they’re putting their money where the meme is.
Alderoty, in his usual cryptic fashion, took to Ripple’s “Crypto in One Minute” series on X (yes, the social media platform, not some ancient relic of crypto history) to explain what this decision really means. And yes, folks, it was as dramatic as it sounds.
The BITCOIN Act (yes, we’re really doing retronyms as legislation now; writers in Washington are apparently moonlighting for Marvel Comics) sails under the banner of Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide. Glorious! Introduced by Lummis, naturally, the bill would direct some unfortunate bureaucrat to purchase up to 1 million bitcoin (BTC) over five years—approximately 5% of the entire supply, or, to put it in modern terms, enough to buy several moderately sized tropical nations (or at least the naming rights to their stadiums).
This synchronized swimming routine performed by wallets fat with capital has all the hallmarks of a bullish ballet—if one believes in omens, portents, or is prone to reading entrails after a particularly spicy DeFi lunch. 📈
In an exclusive tête-à-tête with crypto enthusiast and influencer Anthony Pompliano, Ellis mentioned, rather casually, that Bitcoin (BTC) and its crypto cousins could be just the thing to keep tabs on the “bad actors” of the world. The cheek of it! 💰