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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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BlackRock Closes the Door on Altcoins: "Only Bitcoin and Ethereum!"

(Title is misleading, Sol and XRP ETFs are expected in 2025-The Dinarian šŸ˜‰)

Following the approval of spot Bitcoin and Ethereum ETFs, other altcoin ETFs are also expected to be approved.

While there are already applications for altcoin ETFs for some altcoins like Solana (SOL) and XRP, BlackRock has closed the door on any other ETFs.

Bloomberg ETF analyst Eric Balchunas shared BlackRock ETF president Jay Jacobs' statements on this subject.

At this point, Jay Jacobs said that BlackRock will focus on Bitcoin and Ethereum ETFs rather than launching other altcoin ETFs.

Jacobs said that his exploration of Bitcoin and Ethereum has just begun and that interest in BTC and ETH is just the tip of the iceberg.

Noting that Bitcoin and Ethereum ETFs currently only reach a small number of customers, the BlakRock manager emphasized that the company is focusing on the BTC and ETH space rather than launching new altcoin ETFs.

ā€œWe are actually just the tip of the iceberg when it comes to Bitcoin and especially Ethereum.

Only a very small portion of our clients own IBIT and ETHA, so instead of launching new altcoin ETFs, we will focus on BTC and ETH.ā€

While many investors appreciate BlackRockā€™s approach of not launching more crypto ETFs, one user said that a step-by-step approach is better when it comes to ETFs, as launching a new ETF too early will only increase volatility.

Currently, SOL and XRP ETFs are expected to be approved in the US by the end of 2025.

https://en.bitcoinsistemi.com/blackrock-closes-the-door-on-altcoins-only-bitcoin-and-ethereum/

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The UAP/UFO'S Over The Northeast

No need to fear, THEY COME IN PEACE and have been here for a very long time. They are just now showing themselves uncloaked. Some of them are government drones..
But not all..

Check these out:
https://x.com/search?q=drones%20nj&s=09

00:00:27
šŸ¤– Wes Levitt from The Theta Network šŸ¤–

Wes Levitt from The Theta Network about how decentralization is shaping AI, cloud computing, and corporate views on crypto.

00:01:11
Sonic documentation has become AI-powered šŸ¤–

The Sonic documentation has become AI-powered with Cookbook.

šŸ” Ask anything about Sonic
šŸ“ Highlight text and ask AI to explain
šŸŽØ Launch tokens and NFTs
āœØ And much more

Try for yourself:
https://docs.soniclabs.com/

00:00:31
šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

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

šŸ‘‰ Hereā€™s what you need to know:

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

šŸ‘‰ 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 šŸ‘‰txns done by AI agents by 2025

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

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading
Sygnum: Pioneering the Future of Digital Assets šŸ¦šŸš€ šŸ‘‰ 2025

Sygnum, the world's first digital asset bank, is leading the charge in the digital asset revolution. As a global specialist in this emerging field, Sygnum is empowering institutional investors to embrace crypto assets as a legitimate part of their portfolios. šŸ’¼šŸ’°

With 2025 on the horizon, Sygnum envisions a future where crypto assets become a standard practice for institutional investors. This exciting development signifies a significant shift in the financial landscape, as traditional institutions increasingly recognize the value and potential of digital assets. šŸ“ˆ

(DINARIANS NOTE: Theres that 2025 date šŸ“… again.. There are no coincidences)

šŸ’„ Audits Completed, GO FOR LAUNCH šŸš€

Sonic Gateway audits are complete, reviewed and verified by security firms:

āšŖ OpenZeppelin www.openzeppelin.com
šŸ”µ Quantstamp www.quantstamp.com
šŸŸ¢ Certora www.certora.com

šŸ‘‡Read the audits here šŸ‘‡
https://x.com/0xSonicLabs/status/1867933980546531545

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John E. Deaton Advocates For SEC-CFTC Merger To Improve Financial Regulation

Table of Contents:

ā–  The Case for a Unified Regulator ā€“ SEC + CFTC

ā–  Cryptocurrencies in the Regulatory Gray Zone

ā–  Aligning with Global Standards

John E. Deaton who used to represent XRP on legal matters urges that the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission should be merged.This consolidation would simplify financial regulation, eliminate the redundancy in tasks between agencies.

He states that XRP it will resolve the inconsistencies between the two agencies. He suggests that such a move could help lead to greater, more efficient, more transparent and more competitive operation across traditional financial markets as well as within the global cryptocurrency space.

ā— The Case for a Unified Regulator ā€“ SEC + CFTC

According to the former XRP lawyer, today, the SEC handles securities while, the CFTC oversees commodities, and derivatives.
However, increasing complexity of financial product has softened the boundaries of this dichotomy, with examples including swaps and ...

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Texas lawmaker introduces bill for strategic bitcoin reserve, aligning with Trump’s crypto agenda

Quick Take:

  • Texas Republican Rep. Giovanni Capriglione said he filed that bill, House Bill 1598, during an X space on Thursday hosted by the Satoshi Act Fund, a bitcoin mining advocacy group.Ā 

  • Ahead of elections in November, President-elect Donald Trump vowed to create a strategic bitcoin reserve.Ā 

A bill was introduced on Thursday to create a strategic bitcoin reserve following President-elect Donald Trump's support for investing in bitcoin and as similar bills circulate.Ā 

Texas Republican Rep. Giovanni Capriglione said he filed that bill, House Bill 1598, during an X space on Thursday hosted by the Satoshi Act Fund, a bitcoin mining advocacy group.Ā 

"I just filed the bill," Capriglione said during the X spaces. "Itā€™s a bill to be entitled ā€˜an act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities filed in the state of Texas strategic bitcoin reserve."

Capriglione said the bill would create a reserve account through donations and will be held for a maximum of five years. Texas, notably, is theĀ eighth-largest economyĀ in the world.Ā 

A strategic bitcoin reserve has been floated on the federal, including from the top. Ahead of elections in November, President-elect Donald Trump vowed to create a strategic bitcoin reserve.Ā During an interview with CNBC, TrumpĀ doubled downĀ on Thursday, saying, "we're gonna do something great with crypto, 'cause we don't want China, or anybody else, not just China, others are embracing it, and we want to be the head."

Trump is not alone in his endeavors to create a bitcoin reserve ā€” Republican Sen. Cynthia Lummis of Wyoming has aĀ draft billĀ circulating that would direct the U.S. Treasury to buy one million bitcoin over a period of five years.

Other states have also introduced bills to invest in bitcoin. Pennsylvania Republican lawmakersĀ introducedĀ a bill in November that would allow Pennsylvania's state treasurer to invest in bitcoin, digital assets and crypto-based exchange-traded products.

The idea of a strategic bitcoin reserve has been met with someĀ criticism. More recently, former Federal Reserve Bank of New York Bill Dudley said it would be aĀ bad deal for Americans in an opinion article published on Bloomberg last week.Ā 

"Whatā€™s in it, though, for the government or for people who donā€™t hold Bitcoin? Nothing good," Dudley wrote. "Thereā€™s no exit strategy, so the purpose must be to push prices higher, not create value for the government ā€” which would be stuck holding volatile tokens that produce no income."

Ā 

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Decentralization democratizes access to AI computing — Theta Labs exec
Theta Labs head of strategy Wes Levitt says the decentralized cloud is more cost-effective and offers greater flexibility and reliability for AI solutions.

The artificial intelligence sector has exploded and seems to show no signs of slowing down. However, most companies and projects utilize centralized services such as Amazon Web Services (AWS) for cloud computing power, which can be costly and prone to outages.

Decentralization and blockchain are solutions to these issues, according to Theta Labs head of strategy Wes Levitt, who toldĀ The AgendaĀ podcast that decentralized cloud computing saves customers money and offers greater reliability and flexibility.

Levitt spoke to hosts Jonathan DeYoung and Ray Salmond for episode 51 ofĀ The Agenda, where he broke down how decentralization helps democratize access to computing power, why academia has become Theta Labsā€™ top customer and more.

Decentralized cloud services expand access to AI

Theta Labs is the company behind Theta Network, which describes itself as a decentralized cloud for AI, media and entertainment. According to Levitt, Theta is focused on decentralizing the cloud in order ā€œto get away from having only a few points of failure and from having near-monopolies in the case of the major cloud providers and what they can provide in pricing and other terms.ā€

Levitt shared that while Theta started out focused primarily on media and entertainment, it has seen a massive influx in AI-related customersĀ since the current AI boom began. One particular sector that has found decentralized cloud computing especially useful is academia. ā€œThe strongest inroads weā€™ve made in the last six to 12 months has been in academia, actually,ā€ he said.Ā 

ā€œWe caught on with KAIST, a university in Korea, and pretty quickly we were able to expand to four out of the five top Korean universities,ā€ he explained, adding that Theta also ā€œrecently signed on University of Oregon and [is] talking now to a few of the US universities.ā€

Ā 

Ā 
Universities find the service useful in part because it opens up access to AI computing for organizations that canā€™t afford AWS, Levitt said. However, there are also some unique quirks within academia that make it an interesting use case, including universitiesā€™ need to rapidly scale up research efforts before conferences and then immediately scale them down.
ā€œItā€™s not a model that really fits for them to say, ā€˜Weā€™re going to sign a three-year contract with heavy commitments on it.ā€™ They want to have flexibility and be able to use a lot when they want, and not pay for times when theyā€™re not.ā€

Theta Labs vs. Amazon Web Services

The decentralized AI niche within the blockchain space has exploded over the past year. According to data from CoinMarketCap, the market capitalization of AI and big data crypto projects hasĀ grownĀ from $16.17 billion in December 2023 to peak at over $70 billion on Dec. 6, 2024.

Ā  Ā  Ā  Ā  Ā  Ā  Ā  Ā  Ā  Ā Market capitalization of AI and big data tokens. Source:Ā CoinMarketCap

Given this massive growth, could AWS ever disappear and be replaced by a service like Theta Network? Well, according to Levitt, thatā€™s not really the intention of the project and there will always be aĀ role for centralization.

ā€œWe donā€™t have stickers on our laptops that say ā€˜decentralize everything,ā€™ā€ he toldĀ The Agenda. ā€œI think thereā€™s always going to be some use cases [for centralization].ā€ He gave an example of a learning model that requires a cluster of nodes focused in a specific area rather than a global network.

However, Levitt does see a future where decentralized AI could one day rival its centralized counterparts, just perhaps with different use cases.

ā€œAWS is not going to be killed off, or the centralized cloud players arenā€™t going to cease to exist. Thereā€™s going to be centralized use cases. Depending on how things evolve and how a taste for decentralized AI develops, it could be just as large.ā€

To hear more from Levittā€™s conversation withĀ The AgendaĀ ā€” including how Theta Network tackles multimedia streaming, whether politicians are capable of regulating AI and more ā€” listen to the full episode onĀ Cointelegraphā€™s Podcasts page,Ā Apple PodcastsĀ orĀ Spotify. And donā€™t forget to check out Cointelegraphā€™sĀ full lineupĀ of other shows!Ā 

Ā 

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MUFG backed Progmat explores tokenizing foreign real estate

Japanese tokenization platformĀ ProgmatĀ is exploring the potential for tokenizing overseas real estate. Itā€™s the most prolific tokenization platform in Japan, founded by MUFG with backing from theĀ other big three banks, SMBC and Mizuho, alongside others. So far most of the security tokens issued have been linked to single large real estate properties in Japan, with one or two digital bonds. Now theyā€™re considering how to expand the types of security tokens.

Thereā€™s an affiliated Digital Asset Co-creation Consortium (DCC) with 282 members. A much smaller DCC working group explored which types of tokenized assets to consider. Out of sixteen options, overseas real estate is the top of a shortlist of five. The others are real estate construction, wind power infrastructure, solar infrastructure and funds.

The decision making process was quite informative. Each token type was assessed according to four criteria. On the commercial front, does the asset serve a need or is it in demand? And how profitable would it be? Then thereā€™s the question of feasibility. Is there an existing scheme or structure that can be used? And what are the risks? Each of the 20 working group members voted on each criterion for every asset class.

Overall the conclusion was there would be strong demand for all five of the shortlisted assets and all were considered profitable, with less confidence about real estate construction.

The real estate tokenization choices

Regarding the scheme or structure, most Japanese real estate security tokens use a trust structure and this could be used as a template for overseas real estate. Except itā€™s a two tier trust structure with a domestic trust and an overseas real estate trust. Alternatively, the investment could be via a limited liability company (LLC). Regarding risks, the one big caveat was exchange rate risks. Additionally, the asset managers would need to watch out for local tax laws, especially the potential for double tax.

The working group also considered different types of exposures to overseas real estate ā€“ single property versus portfolios or real estate loans. Portfolios could either be a physical portfolio, a real estate fund or a REIT.

When they compared the trust model investing in a specific property versus an LLC investing in REITs, the LLC/REIT route was the lowest cost and risk, and the easiest to implement by far. However, the working group preferred single properties held via a trust. Thatā€™s in part because itā€™s the same model that has worked for security tokens so far in Japan. But the final decision appeared to be about marketing. Itā€™s easier to sell single properties to individual investors because they are more tangible compared to a faceless REIT.

Meanwhile,Ā Progmat CoinĀ is progressing its stablecoin initiatives. The big three banks launchedĀ Project Pax, which will useĀ stablecoinsĀ for cross border payments. Companies will instruct their banks in the usual way, and on the backend it will still use Swift messages. However, instead of routing payments via correspondent banks they will go via blockchain.

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