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⚖️ Why FDIC sent cease & desist to FTX, 4 other crypto firms ⚖️

On Friday, the Federal Deposit Insurance Corporation (FDIC) announced that it had issued cease and desist letters to five cryptocurrency firms, including crypto exchange FTX US.

Some have viewed the censure on FTX as harsh, and FTX US CEO Brett Harrison responded, “We really didn’t mean to mislead anyone, and we didn’t suggest that FTX US itself, or that crypto/non-fiat assets, benefit from FDIC insurance.” It was an omission highlighted below that was partly to blame.

The other organizations censured included three media websites that referred to FDIC-insured crypto companies (cryptonews.com, smartasset.com, cryptosec.info) and one that registered a domain name fdiccrypto.com.

A key issue when dealing with consumers is that a few might not differentiate cryptocurrency from other currencies. Hence any statement relating to cash balances being held in FDIC-insured bank accounts could easily be misinterpreted by a less informed reader as including cryptocurrencies. Recent bankruptcies provide context, especially crypto lender Celsius, which has severely impacted retail investors.

At the end of July, the FDIC published a crypto fact sheet to clarify that it does not insure any crypto firms. If a crypto firm holds cash balances at an FDIC-insured bank, that only safeguards the cash from the bank’s bankruptcy, not the crypto firm’s bankruptcy, a difference many won’t appreciate. Also, when a company states that it has balances held at an FDIC-insured bank, it has to clarify which bank explicitly.

In the FTX case, at issue are two tweets from FTX US CEO Brett Harrison that state, “direct deposits from employers to FTX US are stored in individually FDIC-insure bank accounts in the user’s names” and “stocks are held in FDIC insured and SIPC-insured brokerage accounts.” The latter refers to FTX’s expansion into stock trading in late July.

Referring to this set of tweets, the FDIC letter said, “These false and misleading statements represent or imply that FTX US is FDIC-insured, that funds deposited with FTX US are placed, and at all time remain, in accounts at unnamed FDIC insured banks, that brokerage accounts at FTX US are FDIC-insured and that FDIC insurance is available for cryptocurrency or stocks.”

The tweet relating to employers has been removed, as has one relating to brokerage, but as of today, there is still at least one published tweet relating to stock brokerage. However, the wording is slightly clearer but doesn’t address all the FDIC’s complaints. It states, “brokerage accounts are SIPC-insured, cash associated with brokerage accounts is managed into FDIC-insured accounts at our partner bank”. But the tweet omits the required name of the partner bank.

The FDIC previously censured bankrupt crypto lender Voyager over its claims that cash amounts held by Voyager in FDIC-insured bank accounts were insured against Voyager’s bankruptcy. Without verifying the details, where cash amounts are held in a bank on trust, the segregation of funds from the bankrupt company can provide protection in the case of bankruptcy, not the FDIC. Voyager also didn’t always mention which bank it partnered with in all cases (although it did sometimes).

The brevity of social media has proven tricky when it comes to regulatory compliance, including self-regulation. In the UK, the Advertising Standards Association (ASA) censured the Arsenal football club for not including sufficient risk warnings in each and every cryptocurrency social media post. A U.S. ad body censured celebrities for insufficient disclosures about their association with NFTs they promote.

Another topical issue is how FDIC insurance will work with tokenized bank deposits. It’s one thing if a single bank tokenizes money held in its own accounts. But some potential gray areas exist where the tokens are used for interbank payments – such as USDF or TassatPay’s Digital Interbank Network.

https://www.ledgerinsights.com/fdic-ftx-cryptocurrency/

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Coinbase CEO Brian Armstrong on CNBC: Crypto Market Structure Bill is CLOSE to passing 👀
00:00:39
Tucker Carlson says he will not invest in Bitcoin 🪙

JUST IN: 🇺🇸 Tucker Carlson says he will not invest in Bitcoin because he believes the CIA created it.

00:00:32
THE DAY TREASURY ENDS THE FED
  • And Why It’s Inevitable -
00:09:12
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading

⚡ BREAKING: GOOGLE’S WILLOW QUANTUM PROCESSOR COMPLETES 3.2 YEARS OF COMPUTATION IN JUST 2 HOURS, 13,000× FASTER THAN THE WORLD’S MOST POWERFUL SUPERCOMPUTER, SPARKING FRESH CONCERNS OVER BITCOIN’S ENCRYPTION SECURITY.

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🚨 BREAKING: PRESIDENT TRUMP WILL MEET WITH CHINESE PRESIDENT XI JINPING NEXT WEEK THURSDAY.

Dr. Steven Greer releases “Buga Sphere” update report (dated Oct. 17, 2025):

A metallic sphere found in Colombia was reportedly 👉 carbon-dated to 12,560 years old, older than the Great Pyramid.

Lab tests allegedly show a unique aluminum alloy containing rare earth elements and woven fiber-optic material.

Symbols on the object are said to resemble proto-Sanskrit with a possible warning about cosmic events.

(Note: Dr. Greer has a history of controversial claims; independent verification pending.)

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New Human Force
Join this Now! YOU have what it takes!

They are in our solar system, and in our event-stream in this Eternal Now.

Officialdom is clueless.

They think we are going to be at WAR with the Aliens.

Officialdom is very stupid.

Aliens is here. It’s not WAR. It’s Contention.

There is a difference.

Officialdom is clueless, still living in the last Millennium.

Aliens is here.

The Field in which we contend is This Eternal Now.

ALL HUMANS LIVE HERE, and ONLY HERE, in this

ETERNAL NOW.

It’s a Field of potentials, of pending Manifestation, this continuous event-stream of karma in which we have always lived our body’s Life.

This Eternal Now has always been our body’s Field of Contention.

The Aliens is here, in our Eternal Now.

Our common, shared, reality that we all continuously co-create now has Aliens.

It’s getting very complex in here.

Officialdom is clueless. They see the Aliens. They are freaking out. They think you are children, when it is their small minds, trapped in a reality that is only grit, mud, and ‘random chance’ who are childish.

Officialdom is stupid. They will and are reacting badly. As is their way, they are trying to hide shit from you. Silly grit bound minds don’t realize you can see everything from within the Eternal Now. They have yet to grasp that what they perceive as this Matterium, filled with ‘matter’, is but a hardening of our previous (past) internal states of being.

WAR happens in the Matterium.

Contention occurs within this Eternal Now where Consciousness shapes the manifesting event-stream.

YOU know this to be fact. You are a co-creator.

Contention with Aliens is happening in this instant in this Eternal Now.

Officialdom ain’t doing shit. They are still stuck in trying to move matter around to affect unfolding circumstances. That’s redoing the mirror trying to affect the reflection. Dumb fucks….

It’s up to US. To the New Humans. Those of us who live in this Eternal Now. Those of us who see that our body’s Lives (the Chain that cannot be broken) are expressions of the Ontology revealing itself to itself. It’s up to us guys.

We are not an Army. That’s a concept from the past, from before the emergence of the New Humans. We are a Force. A self-organizing collective with leadership resident in each, and every participant.

We are the New Human Force. By the time officialdom starts to speak about the Aliens in near-factual terms, we will already be engaging them in this Eternal Now.

By the time officialdom begins to move matter around (space ships & such) thinking it’s War, we will already be suffering casualties in this Eternal Now. That part is inevitable. It’s how we learn.

By the time officialdom realizes that some shit is going on in places and ways beyond its conception, we will already be pushing our dominance onto our partners in this First Contention, the Aliens. Nage cannot train without Uke.

Just as officialdom is scrambling to research the Ontology, this Eternal Now, and the event-stream, we will be settling terms with our new partners, the Aliens.

Come, join with us. It’s going to be a hellacious Contention.

We ARE the NEW HUMANS!

Together we are the Force that cannot be defeated.

Start YOUR training in this instance of this Eternal NOW.

Consume Neville Goddard videos as though all of human existence depended on YOUR mind and YOUR active, effective, imaginings!

It’s not a question of Mind over Matter as there is only Mind and it cares not for Matter. That’s residue.

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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