TwoCitiesCapital Posted July 13 Share Posted July 13 https://www.coindesk.com/business/2024/07/12/makerdaos-1b-tokenized-treasury-investment-plan-draws-interest-from-blackrocks-buidl-ondo-superstate/ MakerDAO looking to put $1-2 billion of its $5 billion reserves in tokenized Treasury products. I'm not sure I follow all of the benefits of tokenization of traditional asset classes just yet - which are basically already digital ledgers with no physical records trading - but we'll see. It'll be interesting to see how far the government allows this to go - like what happens if Russia buys a ton of MakerDAO's USD stable coin as a reserve asset - how do we apply sanctions to tokens backed by treasuries or the stavlecoin itself? Link to comment Share on other sites More sharing options...
SharperDingaan Posted July 13 Share Posted July 13 6 hours ago, TwoCitiesCapital said: MakerDAO looking to put $1-2 billion of its $5 billion reserves in tokenized Treasury products. Its really an indication that the MakerDAO ecosystem is under stress. Any CB with a CBDC could do this tomorrow (China); the CB simply creates a new ledger for every treasury issued, and thereafter processes the security the same way as it is already doing with its CBDC. Full transparency (to the CB) over the securities life from birth to death. Trying to do this via a stable-coin is an attempt to money launder, via a treasury purchase out of the market. Gives an idea as to the nature of MakerDAO's ecosystem, and its magnitude. MakerDAO is a Chinese entity SD Link to comment Share on other sites More sharing options...
james22 Posted July 16 Share Posted July 16 Link to comment Share on other sites More sharing options...
Xerxes Posted July 16 Share Posted July 16 My god, Blackrock’ chieftain, Larry Fink, has been Red-pilled ! This is the Establishment. Can’t wait for him to start making personal memes and podcasts. But i bet you never see Blackrock making a directional bet. He just wants to be the pipeline for whatever the market is buying and selling. And maybe the good PR of it will help offset his ESG PR “issues”. Link to comment Share on other sites More sharing options...
james22 Posted July 18 Share Posted July 18 Funny rant. Link to comment Share on other sites More sharing options...
james22 Posted July 18 Share Posted July 18 Link to comment Share on other sites More sharing options...
james22 Posted July 18 Share Posted July 18 On 7/15/2024 at 9:42 PM, Xerxes said: My god, Blackrock’ chieftain, Larry Fink, has been Red-pilled ! Trump: And you ask Jamie Dimon, Jamie Dimon was, you know, very negative [on Bitcoin] and now all of a sudden he’s changed his tune a little bit. https://archive.ph/MfrmC/again?url=https://www.bloomberg.com/features/2024-trump-interview-transcript/#selection-7811.277-7811.402 Link to comment Share on other sites More sharing options...
james22 Posted July 20 Share Posted July 20 Link to comment Share on other sites More sharing options...
james22 Posted July 20 Share Posted July 20 Link to comment Share on other sites More sharing options...
Dave86ch Posted July 21 Share Posted July 21 Governments entered the chat, as expected. The prophecy is just fulfilling. Link to comment Share on other sites More sharing options...
james22 Posted July 21 Share Posted July 21 Link to comment Share on other sites More sharing options...
Gamecock-YT Posted July 22 Share Posted July 22 If I'm Dimon or Fink that would be really tough being the boss for so long only to have to suck up to Trump as Treasury Secretary. I guess getting the immediate options vest and the tax deferred treatment of going into government service might soften the blow but it's not like these guys are hurting for cash. Guess it's the old saying that everyone has a price. Link to comment Share on other sites More sharing options...
Paarslaars Posted July 22 Share Posted July 22 If this happens it will be more for ego/power than money. Link to comment Share on other sites More sharing options...
james22 Posted July 22 Share Posted July 22 Would allow Fink to ensure his BTC swan song successful like nothing else. He'd be a historic figure if solves the debt crisis and stabilizes the dollar. And makes Blackrock indispensable. Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 22 Share Posted July 22 3 hours ago, james22 said: And makes Blackrock indispensable. And yet people would still confuse them with Blackstone... Link to comment Share on other sites More sharing options...
james22 Posted July 22 Share Posted July 22 Link to comment Share on other sites More sharing options...
james22 Posted July 23 Share Posted July 23 Link to comment Share on other sites More sharing options...
Dave86ch Posted July 23 Share Posted July 23 Tether is one of the largest holders of US Treasury bonds, currently ranking as the 22nd largest holder, surpassing countries like Australia, Spain, and Mexico. Tether has also been increasing its Bitcoin holdings as collateral for its stablecoin, USDT, which operates on the Ethereum blockchain as a smart contract.Proof of Work has unique characteristics, and Bitcoin, especially, has the largest network among PoW infrastructures. It is neutral and global, and its scarcity ensures value in transferring data through cyberspace. Despite its opcode limitations preventing Turing complete scripts, Bitcoin is an ideal asset linked to physical energy, serving as a reserve and collateral. Collateralizing currency with a hard asset is both inevitable and cyclical. Bitcoin, being a digital native asset, is the best candidate for this role. The USD is already collateralized by Bitcoin. Link to comment Share on other sites More sharing options...
rkbabang Posted July 23 Author Share Posted July 23 59 minutes ago, Dave86ch said: Tether is one of the largest holders of US Treasury bonds, currently ranking as the 22nd largest holder, surpassing countries like Australia, Spain, and Mexico. Tether has also been increasing its Bitcoin holdings as collateral for its stablecoin, USDT, which operates on the Ethereum blockchain as a smart contract.Proof of Work has unique characteristics, and Bitcoin, especially, has the largest network among PoW infrastructures. It is neutral and global, and its scarcity ensures value in transferring data through cyberspace. Despite its opcode limitations preventing Turing complete scripts, Bitcoin is an ideal asset linked to physical energy, serving as a reserve and collateral. Collateralizing currency with a hard asset is both inevitable and cyclical. Bitcoin, being a digital native asset, is the best candidate for this role. The USD is already collateralized by Bitcoin. As Tether increases its Bitcoin holdings and the U.S. dollar eventually devalues, what happens to the value of Tether wrt the USD? Does it become untethered? Does it start trading as a proxy for the BTC it holds instead? Link to comment Share on other sites More sharing options...
fareastwarriors Posted July 23 Share Posted July 23 https://www.cnbc.com/2024/07/23/ether-etfs-first-day-of-trading.html Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted July 23 Share Posted July 23 (edited) 3 hours ago, rkbabang said: As Tether increases its Bitcoin holdings and the U.S. dollar eventually devalues, what happens to the value of Tether wrt the USD? Does it become untethered? Does it start trading as a proxy for the BTC it holds instead? Unless if the Tether are convertible into BTC, which I don't think will happen, they won't. But I can see where they may trade at a slight premium to other stable coins as a result of hard-asset backing and hope. Realistically, what this means is that Tether will be able to issue more and more TUSD against the surplus capital as BTC rises as a % of underlying assets as well as up their salaries/bonuses paid out of the return on that Treasury. Edited July 23 by TwoCitiesCapital Link to comment Share on other sites More sharing options...
james22 Posted July 23 Share Posted July 23 Link to comment Share on other sites More sharing options...
Dave86ch Posted July 24 Share Posted July 24 20 hours ago, rkbabang said: As Tether increases its Bitcoin holdings and the U.S. dollar eventually devalues, what happens to the value of Tether wrt the USD? Does it become untethered? Does it start trading as a proxy for the BTC it holds instead? No idea, but more broadly, the path is already on track to a series of currencies backed by Bitcoin as hard money. Most people repeat the same mantra against Bitcoin and don't realize that many things have already happened but are somewhat hidden by a fog curtain. Link to comment Share on other sites More sharing options...
rkbabang Posted July 26 Author Share Posted July 26 Link to comment Share on other sites More sharing options...
SharperDingaan Posted July 26 Share Posted July 26 It would seem that BTC has been making its way into many an institutional IPS, and that we're finally moving towards a more widespread commercial implementation of a version of BTC protocol. Winners and losers, largely a function of their ability to successfully manage change. SD Link to comment Share on other sites More sharing options...
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