An Era of Cooperation Begins as Decades-Old Conflict Resolved

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…

The post Ripple (XRP) CEO Brad Garlinghouse Heavily Criticizes Wall Street – “Now They Are Coming to Us” appeared on BitcoinEthereumNews.com. Ripple Labs CEO Brad Garlinghouse has slammed Wall Street banks for opposing crypto companies’ more direct access to the Federal Reserve system. Garlinghouse specifically said that resistance to crypto firms obtaining a “Fed master account” is “hypocritical and anti-competitive.” Speaking at the DC Fintech Week event, Garlinghouse stated that the crypto sector “should be held to the same standards” as traditional financial institutions when it comes to combating money laundering and illicit finance, adding, “If we’re talking about the same standards, then we should also have access to the same infrastructure. It’s inconsistent to say one thing and oppose the other.” The Fed’s “master account” system allows institutions to directly integrate into the U.S. financial system and access central bank systems. However, many cryptocurrency companies have struggled due to the Fed’s reluctance to approve such accounts or uncertainty about how the process will work. Ripple recently applied for a “master account” through its subsidiary, Standard Custody & Trust Co. The company also sought a federal bank license from the U.S. Office of the Comptroller of the Currency (OCC) in July. Garlinghouse stated that they have recently held more constructive discussions with banks regarding Ripple’s stablecoin project, RLUSD: “I had meetings yesterday in New York with banks that refused to talk to us three years ago. Now they’re asking, ‘How can we collaborate on this?’” Ripple’s CEO argued that granting crypto firms a master account would provide greater stability, oversight, and risk management in the financial system. “It’s really disappointing that some traditional banks are lobbying against this,” he said. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/ripple-xrp-ceo-brad-garlinghouse-heavily-criticizes-wall-street-now-they-are-coming-to-us/

The post White House Predicts More Than 10,000 Job Cuts appeared on BitcoinEthereumNews.com. Topline The White House could permanently cut more than 10,000 federal workers amid the government shutdown, budget director Russ Vought said Wednesday, just before a federal judge paused the layoffs of federal employees for at least two weeks. The government shutdown stretched on into a thirteenth day Monday. AFP via Getty Images Timeline Wednesday, Oct. 15A federal judge blocked firings the Trump administration has carried out during the shutdown for at least two more weeks, granting a request for a restraining order filed by federal employee unions. Wednesday, Oct. 15Vought said the Trump administration wants “to be very aggressive where we can be in shuttering bureaucracy, not just the funding,” during an appearance on “The Charlie Kirk Show” broadcast from the White House, adding he wants to close the Consumer Financial Protection Bureau within “the next two, three months,” alleging overburdensome regulations on financial institutions. Wednesday, Oct. 15Treasury Secretary Scott Bessent said the shutdown could cost the federal government $15 billion in output daily, warning it was beginning to “cut into muscle” of the U.S. government, he said while speaking at CNBC’s Invest in America Forum, calling on Democrats to “break away” and vote with Republicans to reopen the government. Tuesday, Oct. 14The Senate voted 49-45 in favor of a Republican-backed bill to reopen the government, which needed 60 votes to clear the filibuster. Sens. Catherine Cortez Masto, D-Nev., and Sen. Angus King, I-Maine, voted alongside Republicans, while Sen. John Fetterman, D-Pa., who had supported the measure in the past, was not present and Sen. Rand Paul, R-Ky., was the GOP’s lone “no” vote. Tuesday, Oct. 14The White House budget office said in a post on X it will “continue the RIFs [reductions in force], and wait,” blaming “the Democrats’ intransigence” for the shutdown. The Office of Management and Budget…