Americas – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Mon, 08 Sep 2025 16:40:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.8 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Americas – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 How the South became America’s new center of gravity https://earlybirdsinvest.com/how-the-south-became-americas-new-center-of-gravity/ https://earlybirdsinvest.com/how-the-south-became-americas-new-center-of-gravity/#respond Mon, 08 Sep 2025 16:40:10 +0000 https://earlybirdsinvest.com/how-the-south-became-americas-new-center-of-gravity/

Much like migratory birds and retirees, college students are flocking to the South come September. Big state schools with large football programs and robust Greek life, like the University of Alabama or the University of Mississippi, have seen an influx of students from the North; the number of students who left the North to go South for school increased 30 percent between 2018 and 2022.

There are lots of reasons for this change. It could be the fun campus experience, or that Southern campuses relaxed Covid restrictions before their northern counterparts. It could be a change of scenery. It could be that students are getting more bang for their buck at a time when college tuition is at an all-time high. But whether it’s #RushTok or less student loan debt, students are embracing life South of the Mason-Dixon line.

According to Bloomberg senior reporter Amanda Mull, this is just one symptom of a larger embrace of Southern culture. She unpacks those changes on this week’s episode of Explain It to Me, Vox’s weekly call-in podcast.

Below is an excerpt of our conversation with Mull, edited for length and clarity. You can listen to the full episode on Apple Podcasts, Spotify, or wherever you get podcasts. If you’d like to submit a question, send an email to askvox@vox.com or call 1-800-618-8545.

Over time, the South has grown in the American imagination. What first made that possible?

In the 1960s, you see the simultaneous occurrence of political evolution, logistical evolution, and technological evolution.

The political aspect is of course the civil rights movement and the Civil Rights Act, which changed the political possibilities for lots of people in the South. It started to change how the rest of the country viewed the south.

Then you also have the practical shift, which is air conditioning. So in 1956, you get the advent of the American highway program, which built interstates that connected places and parts of the country that were previously difficult to travel between. The South was industrially underdeveloped relative to the Northeast and the Midwest. So the advent of the highway system made it a lot easier for the South to interact commercially with the rest of the country, and made it a lot easier for the South to interact commercially with itself at the end of Jim Crow.

The advent of air conditioning made it possible for lots of different types of businesses to think about the South as a possible location, and made it possible for more people to think about the South as a place they might want to live. This change across time has led us to where we are now, where the population of the South has been growing for decades and is still growing.

Southern states started offering advantages to businesses. What are those advantages, and how has that changed the culture there?

State governments started putting together incentive packages where they pitch themselves both to the business community at large and to specific employers. One way you can really see this happening is Southern states pitching themselves as a union-unfriendly alternative for car manufacturing. You see that especially attracting foreign car manufacturers. American manufacturers have less of a presence in the South, but they have, over the past several decades, moved car manufacturing there because employers saw it as an opportunity to avoid some of the shipping and tariff and logistical problems of cars overseas, but also avoiding paying the higher wages and offering the better working conditions of the Midwest and Northeast, which had been traditionally areas of car manufacturing.

The car business and the movie business are both great examples of how this similar playbook works across industries. Georgia and Louisiana have put together huge tax incentive packages to attract television and movie production. Netflix has a huge complex in Atlanta. A lot of Marvel movies over the past decade have been filmed in Georgia. They pitch themselves as locations where you have a lot of different outdoor landscapes that can stand in for a lot of different places. You have cities, mountains, coastline, and forests.

I want to get into the cultural impact. How has the South impacted mainstream American music?

The rise of Southern hip-hop and the subsequent rise of country music are two sides of the same coin. I don’t want to say that the embrace of country is entirely reactionary. But I do think that some of the interest in explicitly white Southern culture in the past few years is a reaction to the omnipresence of Black Southern creativity, especially in music.

When you look at someone like Morgan Wallen, who is enormously popular among listeners and has also been in the news for doing explicitly racist things, it’s hard to look at that and go, “Okay, this has to be at least part a reaction against Black dominance in music.”

But then you look at other artists who have a more explicitly progressive bent, like Kacey Musgraves and Brandi Carlile, who are sort of challengers to that. And then you also see Beyoncé with Cowboy Carter re-embracing her heritage as a Southerner and questioning some of the tropes and the aesthetics and the sounds of white Southern music. Of course, there’s no such thing as white Southern music. It’s very hard to look at the South and go, “Okay, this is white Southern culture and this is Black Southern culture,” because there are so many cultural overlaps over time.

How does this new embrace of the South make you feel as a Southerner?

I’m of two minds about it. I think that it’s good for Southerners of all stripes, of all races, of all backgrounds, if people look at the South more as a legitimate part of the country and less as a backwater where people are subhuman and inferior. But it’s also strange. It’s really uncanny to see people embrace the aesthetics of the South without contending with what the South is and what it has been and what it means. Because I think that most Southerners do that.

Being from the South requires you to interface with the region’s history in a way that the rest of the country gets to skip if they so choose. And so it’s weird to see people cosplaying as stereotypical Southerners when I know that a lot of them have not really thought about it.

]]>
https://earlybirdsinvest.com/how-the-south-became-americas-new-center-of-gravity/feed/ 0 57416
Bitcoin Faces Jobs Test as Tether Considers Gold Mining: Crypto Daybook Americas https://earlybirdsinvest.com/bitcoin-faces-jobs-test-as-tether-considers-gold-mining-crypto-daybook-americas/ https://earlybirdsinvest.com/bitcoin-faces-jobs-test-as-tether-considers-gold-mining-crypto-daybook-americas/#respond Fri, 05 Sep 2025 12:48:52 +0000 https://earlybirdsinvest.com/bitcoin-faces-jobs-test-as-tether-considers-gold-mining-crypto-daybook-americas/

By Omkar Godbole (All times ET unless indicated otherwise)

As both traditional and crypto markets await the U.S. nonfarm payrolls data, some unrelated news hit the wires, underscoring gold’s appeal as a universal haven.

The Financial Times reported that Tether, the issuer of world’s largest dollar-pegged stablecoin, is considering a serious play in the gold industry. CEO Paolo Ardoino has said the metal is safer than any government currency, calling it a perfect complement to bitcoin.

If the report, which cited people familiar with the talks, comes to fruition, it could mean crypto is about to become a bigger part of gold’s reflexive bullish cycle. The precious metal is already soaking up strong bids globally as sticky inflation, fiscal headaches and concerns over central bank independence weigh on investor. Countries are trimming their U.S. Treasury holdings and scooping up gold as a safer, sanctions-proof haven.

Tether’s interest could also boost the appeal of Tether Gold , which is issued by its affiliate company TG Commodities. Each XAUT represents ownership of one fine troy ounce of physical gold and was recently price around $3,560.

Meanwhile, the prospects for bitcoin , ether (ETH) and the wider crypto market are likely to be determined by the jobs report.

“A weak print will cement expectations for a 25bps rate cut, likely softening the dollar and easing Treasury yields, which will be positive for risk assets, including crypto,” Timothy Misir, head of research at BRN, said in an email. “But the real risk is a strong report: even a modest upside surprise could unwind dovish positioning, send yields higher, and pressure BTC and ETH back toward their support levels.”

In other key news, institutional activity points to interest broadening beyond BTC and ETH. DeFi Development Corp. recently bought over 196,000 Solana tokens, establishing a treasury worth some $427 million. And Thumzup Media, backed by Donald Trump Jr., said it acquired $1 million of BTC, along with new purchases of DOGE, LTC, SOL and XRP.

In traditional markets, the MOVE index spiked, signaling increased volatility in U.S. Treasury yields, which could lead to financial tightening and weigh on risk assets. Stay alert!

What to Watch

  • Crypto
  • Macro
    • Sept. 5, 8 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases July producer price inflation data.
      • PPI MoM Prev. -1.25%
      • PPI YoY Prev. 3.24%
    • Sept. 5, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases August employment data.
      • Nonfarm Payrolls Est. 75K vs. Prev. 73K
      • Unemployment Rate Est. 4.3% vs. Prev. 4.2%
      • Government Payrolls Prev. -10K
      • Manufacturing Payrolls Est. -5K vs. Prev. -11K
    • Sept. 5, 8:30 a.m.: Statistics Canada releases August employment data.
      • Unemployment Rate Est. 7% vs. Prev. 6.9%
      • Employment Change Est. 7.5K vs. Prev. -40.8K
    • Sept. 5: S&P 500 Rebalance update released after market close. Strategy (MSTR) is one of the companies being considered for inclusion in the index.
    • Sept. 5, 7 p.m.: Colombia’s National Administrative Department of Statistics releases August consumer price inflation data.
      • Inflation Rate MoM Est. 0.2% vs. Prev. 0.28%
      • Inflation Rate YoY Est. 5.11% vs. Prev. 4.9%
    • Sept. 5, 7 p.m.: El Salvador’s Statistics and Census Office releases August consumer price inflation data.
      • Inflation Rate MoM Prev. 0.33%
      • Inflation Rate YoY Prev. -0.14%
  • Earnings (Estimates based on FactSet data)
    • Sept. 9: GameStop (GME), post-market, $0.19

Token Events

  • Governance votes & calls
    • Uniswap DAO is voting on deploying Uniswap v3 on Ronin with $1M in RON and $500K in UNI incentives to make it the chain’s primary decentralized exchange. Voting ends Sept. 6.
    • Lido DAO is voting on a proposal to migrate Nethermind’s ~7,000 Ethereum validators to infrastructure operated by Twinstake, a staking provider co-founded by Nethermind. Voting ends Sept. 8.
    • Uniswap DAO is voting to establish “DUNI,” a Wyoming DUNA as its legal entity, preserving decentralized governance while enabling off-chain operations and liability protections, with $16.5M in UNI for legal/tax budgets and $75K UNI for compliance. Voting ends Sept. 8.
    • Uniswap DAO is voting on an updated Unichain-USDS Growth Plan to accelerate adoption through performance-based incentives and DAO-guided distribution. The proposal introduces minimum KPIs, a “no result, no reward” model. Voting ends Sept. 9.
  • Unlocks
    • Sept. 9: Sonic (S) to unlock 5.02% of its circulating supply worth $46.02 million.
    • Sept. 11: Aptos to unlock 2.2% of its circulating supply worth $48.86 million.
    • Sept. 15: Starknet (STRK) to unlock 5.98% of its circulating supply worth $15.66 million.
    • Sept. 15: Sei to unlock 1.18% of its circulating supply worth $16.01 million.
    • Sept. 16: Arbitrum to unlock 2.03% of its circulating supply worth $46.05 million.
  • Token Launches
    • Sept. 5: WORLDSHARDS (SHARDS) to be listed on Binance Alpha, MEXC, Gate.io and others.
    • Sept. 5: Boost (BOOST) to be listed on Binance Alpha, Bitget, MEXC, BitMart, and others.
    • Sept. 8: Openledger (OPEN) to be listed on Binance Alpha, MEXC and others.
    • Sept. 8: OlaXBT (AIO) to be listed on Binance Alpha and others.

Conferences

The CoinDesk Policy & Regulation Conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB15 for 15% off your registration.

Token Talk

By Oliver Knight

  • The memecoin sector had shown signs of fading earlier this year, particularly after the short-lived hype cycles around tokens like TRUMP and MELANIA in January. Those launches briefly captured attention, but failed to sustain momentum, reinforcing the perception that the memecoin trade was exhausted after 2023’s frenzy.
  • Both subsequently slumped. TRUMP is now 88% lower and and MELANIA is down 95% despite being touted by the U.S. president and first lady in January.
  • However, there’s a new kid on the block: MemeCore, a layer-1 blockchain solely focused on transitioning memecoins from speculative assets to something that has utility in decentralized finance (DeFi).
  • The platform’s native token, M, has risen by 261% in the past week despite a wider market pullback.
  • The flurry of activity can also be tied to the MemeX liquidity festival, which offers $5.7 million in rewards to traders. It’s worth noting that 85% of the trading volume has taken place on decentralized exchange PancakeSwap, indicating significant retail flows as opposed to on-chain utility.
  • While some may argue this is just another flash in the pan, the surge demonstrates just how quickly memecoin sentiment can shift.
  • The positive sentiment around MemeCore could find a way of moving back to Solana-based memecoin platform Pump.fun, whose $15.8 million in daily revenue in January has tumbled to between $1.5 million and $2.5 million this week.

Derivatives Positioning

  • Ether’s open interest in USDT and dollar-denominated perpetual contracts on major exchanges declined to 1.93 million ETH, a four-week low. This capital outflow raises questions about the sustainability of ETH’s nearly 18% gain over the period.
  • Except for LINK and BTC, open interest declined across the top 10 tokens. OI in major Solana perpetuals slipped below 11 million SOL, threatening to invalidate the four-week uptrend.
  • BTC futures activity on the CME remains subdued, but options are heating up, with open interest rising to 47.23K BTC, the highest since April. The notional OI has risen to $5.21 billion, the most since November. Some traders have been buying cheap out-of-the-money puts, prepping for a potential hotter-than-expected U.S. nonfarm payrolls (NFP) report.
  • Consistent with trends on offshore exchanges, Ether’s futures open interest on the CME slipped below 2 million ETH, while the three-month annualized premium rose from 5% to 7%.
  • On Deribit, BTC puts continue to trade at a premium to calls across all tenors, pointing to downside concerns.
  • The seven-day volatility risk premium has retraced nearly to zero, suggesting that the implied volatility for seven days is now roughly equal to the realized volatility. In other words, investors aren’t expecting a premium to hedge against future volatility spikes, despite the U.S. jobs data due later today.
  • In ETH’s case, puts are trading at a premium to calls out to the end-November expiry.
  • Block flows on the OTC desk at Paradigm have been mixed, with a BTC $116K call lifted alongside an ether $4K put.

Market Movements

  • BTC is up 1.71% from 4 p.m. ET Thursday at $112,306.62 (24hrs: +1.4%)
  • ETH is up 2.14 at $4,398.33 (24hrs: -0.19%)
  • CoinDesk 20 is up 1.85% at 4,050.32 (24hrs: +0.28%)
  • Ether CESR Composite Staking Rate is up 1 bps at 2.88%
  • BTC funding rate is at 0.0015% (1.6425% annualized) on KuCoin
CoinDesk 20 members’ performance
  • DXY is down 0.35% at 98.00
  • Gold futures are unchanged at $3,609.80
  • Silver futures are unchanged at $41.42
  • Nikkei 225 closed up 1.03% at 43,018.75
  • Hang Seng closed up 1.43% at 25,417.98
  • FTSE is up 0.26% at 9,241.13
  • Euro Stoxx 50 is up 0.18% at 5,356.16
  • DJIA closed on Thursday up 0.77% at 45,621.29
  • S&P 500 closed up 0.83% at 6,502.08
  • Nasdaq Composite closed up 0.98% at 21,707.69
  • S&P/TSX Composite closed up 0.57% at 28,915.89
  • S&P 40 Latin America closed up 0.49% at 2,770.29
  • U.S. 10-Year Treasury rate is down 1.5 bps at 4.161%
  • E-mini S&P 500 futures are up 0.21% at 6,524.25
  • E-mini Nasdaq-100 futures are up 0.5% at 23,787.25
  • E-mini Dow Jones Industrial Average Index are unchanged at 45,664.00

Bitcoin Stats

  • BTC Dominance: 58.73% (unchanged)
  • Ether to bitcoin ratio: 0.03914 (0.82%)
  • Hashrate (seven-day moving average): 973 EH/s
  • Hashprice (spot): $52.48
  • Total Fees: 4.86 BTC / $537,022
  • CME Futures Open Interest: 133,775 BTC
  • BTC priced in gold: 31.6 oz
  • BTC vs gold market cap: 8.92%

Technical Analysis

ETH/BTC's weekly chart. (TradingView/CoinDesk)

ETH/BTC’s weekly chart. (TradingView/CoinDesk)

  • The ether-bitcoin (ETH) ratio is looking to top the Ichimoku cloud on the weekly chart. Crossovers above the cloud are said to confirm a bullish shift in momentum.
  • The pair has already topped the descending trendline, characterizing the three-year-long downward trend.

Crypto Equities

  • Coinbase Global (COIN): closed on Thursday at $306.80 (+1.49%), +1.53% at $311.49 in pre-market
  • Circle (CRCL): closed at $117.49 (-0.82%), +0.54%% at $118.12
  • Galaxy Digital (GLXY): closed at $22.91 (-6.07%), +1.27% at $23.20
  • Bullish (BLSH): closed at $49.01 (-9.68%), +1.27%% at $49.63
  • MARA Holdings (MARA): closed at $15.11 (-4.91%), +1.52% at $15.34
  • Riot Platforms (RIOT): closed at $13.16 (-2.16%), +1.98% at $13.42
  • Core Scientific (CORZ): closed at $113.62 (+0.29%)
  • CleanSpark (CLSK): closed at $9.08 (-3.81%), +1.1% at $9.18
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $29.17 (-4.98%)
  • Exodus Movement (EXOD): closed at $29.17 (-0.08%), +2.84% at $25.00

Crypto Treasury Companies

  • Strategy (MSTR): closed at $327.59 (-0.81%), +2.2% at $334.86
  • Semler Scientific (SMLR): closed at $13.62 (+0.29%)
  • SharpLink Gaming (SBET): closed at $15.43 (-8.26%), +2.53% at $15.82
  • Upexi (UPXI): closed at $6.33 (-4.52%), +2.69% at $6.50
  • Mei Pharma (MEIP): closed at $4.27 (-5.74%), +1.87% at $4.35

ETF Flows

Spot BTC ETFs

  • Daily net flows: -$222.9 million
  • Cumulative net flows: $54.63 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: -$167.3 million
  • Cumulative net flows: $13.19 billion
  • Total ETH holdings ~6.52 million

Source: Farside Investors

Chart of the Day

Pump.fun's PUMP purchases. (fees.pump.fun)

Pump.fun’s PUMP purchases. (fees.pump.fun)

  • The chart shows the Solana memecoin launchpad Pump.fun’s purchases of its native token, PUMP.
  • The platform snapped up $12,192,383 in PUMP tokens last week, offsetting the total circulating supply by over 5%.

While You Were Sleeping

  • Stablecoin Group Tether Holds Talks to Invest in Gold Miners (Financial Times): Tether, which already holds $8.7 billion in gold bars, is considering investments across the gold supply chain, with its CEO saying the metal is a complement to bitcoin.
  • Bitcoin Bulls Should Keep an Eye Out for Spike In Key Bond Market Index (CoinDesk): The recent sharp rise in the MOVE index, a key gauge of volatility in U.S. Treasuries, often signals tighter liquidity, which curbs demand for risk assets such as bitcoin.
  • Bitcoin Hits $113K as BTC Dominance Approaches Two-Week High of 59% (CoinDesk): Bitcoin’s move came as $3.28 billion in options expired at 08:00 UTC on Deribit near Friday’s $112,000 “max pain” point, where options buyers face the biggest losses.
  • Hong Kong’s Digital Bond Market Gains Steam With Fresh Offerings (Bloomberg): Digital bonds, debt securities that use the blockchain for issuance, trading and settlement, are gaining traction in Hong Kong, with the government offering subsidies of up to HK$2.5 million ($320,500) per offering.
  • Venezuelan Military Aircraft Fly Near U.S. Warship in ‘Provocative Move’, Pentagon Says (Reuters): Venezuela’s action followed two days after a U.S. strike on a Venezuelan boat allegedly carrying narcotics killed 11, an act criticized by some legal scholars and one Democratic congresswoman.
  • Bitcoin Crash Brewing? Trader Plans Bids at $94K, $82K for Potential Market Freakout (CoinDesk): The president of Spectra Markets sees bitcoin at an inflection point, citing fading bullish drivers, a bearish double top and halving cycle history as reasons for placing bids at $94,000 and $82,000.

In the Ether

So that there's no confusion about the  @coinbase  approach to patent extortion, allow me to confirm how we do things
Stablecoins just had another record month.
The Ripple Swell 2025 agenda is live!
Solana: 0 to $100B+ in less than five years.
U.S. Treasury just bought $2 Billion of its own debt

]]>
https://earlybirdsinvest.com/bitcoin-faces-jobs-test-as-tether-considers-gold-mining-crypto-daybook-americas/feed/ 0 56889
Are America’s four main adversaries really in cahoots? https://earlybirdsinvest.com/are-americas-four-main-adversaries-really-in-cahoots/ https://earlybirdsinvest.com/are-americas-four-main-adversaries-really-in-cahoots/#respond Wed, 03 Sep 2025 07:51:01 +0000 https://earlybirdsinvest.com/are-americas-four-main-adversaries-really-in-cahoots/

Editor’s note, September 2, 12:10 pm ET: This week, the leaders of Iran, North Korea, and Russia, along with around two dozen other heads of state, are in China for a military parade marking the 80th anniversary of the end of World War II, which doubles as an advertisement for China’s bid for global leadership. In February, Vox reported on how American policymakers and scholars are increasingly looking at these four countries as a cohesive unit, brought together by a mutual interest in overturning a US-led international order.

Since then, the limitations of this alliance have been illustrated: Iran’s allies notably did not provide much aid when it came under Israeli and US airstrikes in June. The Trump administration has also been far less interested than Biden’s in isolating and pushing back against these regimes, as shown by President Donald Trump’s recent summit with Russian President Vladimir Putin in Alaska. But this week’s festivities in Beijing also make clear that these countries continue to work closely together and that others — perhaps India — may be falling into their orbit in the face of an increasingly erratic US foreign policy. The story below was originally published on February 3.

Hours after Donald Trump was sworn in as president, China’s Xi Jinping made a call to Russian President Vladimir Putin in which, according to the Chinese foreign ministry’s readout, the two leaders pledged to deepen their “strategic coordination” and “practical cooperation” and “firmly support each other.”

Just a few days earlier on January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, signed a 20-year strategic partnership agreement, pledging a wide range of military cooperation.

Meanwhile, North Korea is pledging to send more troops to Russia, where they have been fighting alongside Russian forces against Ukraine since last October, taking shockingly high losses.

It’s clear that America’s principal global adversaries are increasingly cooperating, and policymakers and experts are increasingly treating these four countries in particular — China, Russia, Iran, and North Korea — as a cohesive unit. They’ve been called the “axis of upheaval,” the “quartet of chaos,” or simply the “CRINKs.”

The cooperation between the four is hard to deny, and while some of these countries have been erstwhile friends since the Cold War, the relationship has certainly deepened since Russia’s invasion of Ukraine. But what does this “axis” actually stand for? Is it just an alliance of convenience or something deeper? And how will a new US administration, one that takes a much more transactional approach to foreign policy and is far less invested in promoting democracy abroad, deal with the quartet?

What do these strange allies have in common?

The four members of this group are all autocracies, but they don’t share an official ideology. China is a one-party communist party state with capitalist characteristics. Russia is a conservative, nationalist oligarchy. Iran is a Shiite Islamic theocracy, and North Korea is a hybrid of state communism, radical self-reliance, and racial supremacism.

Nor do they have much in common economically: China is the world’s second-largest economy, largest exporter, and an inextricable centerpiece of the global economy, while North Korea is basically an economic nonentity (unless you count cybercrime).

But as Andrea Kendall-Taylor and Richard Fontaine of the Center for a New America Security (CNAS) argued in an influential article for Foreign Affairs last year, the four countries “are united in their opposition to the prevailing world order and its US leadership.” What Western countries see as the “rules based international order” established out of the ashes of World War II, these countries see as a cloak for American power.

There are other commonalities.

“They share a belief in state-based political rights rather than any kind of individual rights or human rights,” Kendall-Taylor, director of the Transatlantic Security Program at CNAS, said. “They share a vision of spheres of influence.” In other words, it’s countries’ interests on the world stage that have to be respected, not those of their citizens.

Or as Xi and Putin put it in their joint communique issued shortly after the invasion of Ukraine in 2022, they “stand against attempts by external forces to undermine security and stability in their common adjacent regions.”

All four also view themselves as the inheritors of important historical civilizations. Putin’s arguments for the invasion of Ukraine at times seem to refer more often to events in the ninth century than to recent grievances. North Koreans are taught that their country is one of the cradles of world civilization. And China has sought to promote an “Ancient Civilizations Forum,” composed of countries deemed to have inherited “great ancient civilizations” — one of which is Iran.

Kendall-Taylor and Fontaine have dubbed the alliance the “axis of upheaval” — a term that brings to mind the “axis of evil” — referred to by President George W. Bush in his 2002 State of the Union address, where he built a case for the war in Iraq. That “axis” of Iran, Iraq, and North Korea never made much sense. For one thing, at the time, the Iranian and Iraqi governments were mortal enemies, and only became much closer as a result of the American invasion of Iraq.

By contrast, Russia, China, Iran, and North Korea actually are working together. But the “axis of evil” association is one reason why Peter Van Praagh, founder and president of the Halifax Security Forum, a high-profile annual national security gathering, prefers “CRINKs,” an acronym he coined in 2023.

Van Praagh contrasts the term to BRICS (the economic grouping of Brazil, Russia, India, China, and South Africa), which he told Vox “evokes strength and sort of the action of building something, whereas CRINK has a certain stench to it.”

Russia’s invasion of Ukraine helped cement the alliance

Iran and North Korea are generally viewed as the junior partners in the quartet, due to their relative size and economic clout. China is undoubtedly the most powerful and influential of the four, as reflected in America’s most recent National Defense Strategy, which defined the People’s Republic of China as the “pacing challenge” for American national security.

A somewhat dark and blurry photo taken at a distance shows Kim Jong Un, left, and Vladimir Putin, right, both in dark suits and walking side by side.

Russian President Vladimir Putin and North Korean leader Kim Jong Un during Putin’s departure at the Sunan International Airport in Pyongyang on June 19, 2024.
AFP via Getty Images

But Russia is in many ways the catalyst driving the group forward and bringing it together. The 2022 invasion of Ukraine accelerated the deepening of ties that had already been developing for years.

Shortly after Russia’s invasion, Putin and Xi meant to proclaim a friendship with “no limits,” including Russia affirming its support for Beijing’s position that Taiwan is part of China. Though China is not believed to have directly provided weapons to Russia since the war began, trade between the two countries has grown dramatically over the course of the war as Western countries have imposed increasingly draconian sanctions on the Russian economy.

China is now Russia’s key supplier of civilian consumer goods like cars and clothing as well as “dual use” materials, like the microchips and machine parts that Russia uses to sustain its war machine. China, in return, has been buying massive amounts of Russian oil at a discount — thanks to sanctions. According to US officials, China has been receiving Russian technical help with its submarine and missile programs as well.

In September 2023, North Korean leader Kim Jong Un rode his private train to Russia for talks with Putin amid reports that the Russians were buying millions of North Korean artillery shells and rockets. North Korea and Russia signed a mutual defense treaty last summer, and last October, thousands of North Korean troops were sent to Russia to help retake territory in the Kursk region which is currently occupied by Ukrainian forces.

Russia and Iran were the principal backers of Bashar al-Assad’s now-toppled regime in Syria. Iran has also long been a customer of Russian military hardware, notably including several S-300 air defense missile systems as well as tanks and submarines. Since the invasion, however, Russia has been the customer, particularly of Iran’s Shahed “kamikaze” drones. According to the Ukrainian government, Russia has launched more than 8,000 Iranian drones since the start of the war. The US also says Iran has been sending Russia short-range ballistic missiles.

At times, the conflicts in Ukraine and the Middle East have seemed increasingly intertwined. Russia was reportedly in talks last year to send missiles to the Iran-backed Houthi rebels in Yemen, while Ukraine provided aid to the rebels fighting Assad in Syria. In 2023, Iran was invited, along with several other countries, to join the BRICS, which Russia in particular has sought to promote an alternative to Western-led groupings like the G7.

To explain the alliance that has developed since the war in Ukraine, Yun Sun, a senior fellow and director of the East Asia program at the Stimson Center, said Chinese commentators often use the phrase: “They form a circle and they keep each other warm in a harsh winter. That’s the mentality. They’re looking for someone to have their back when they’re in this strategic competition with the United States.”

Is this just a coalition of the sanctioned?

One other thing these countries have in common is that they’re all the target of a US-led economic sanctions regime, and extremely eager to find ways to overturn that regime. Putin, in particular, has been keen to develop a global payment system as an alternative to the dollar, which he argues the US uses as a political weapon.

Some experts argue that it’s actually US economic pressure that has created the axis.

“This is an alliance of United States’ making,” says Vali Nasr, professor of international affairs and Middle East studies at the Johns Hopkins School of Advanced International Studies. “It’s not that these countries have natural affinities or strategic convergence. But going back several presidents, the US has basically followed the same strategy against all these countries at the same time in a way that brings them together.”

For example, a so-called “shadow fleet” of opaquely registered and insured oil tankers that has emerged to transport Russian and Iranian oil around the world, including to China, effectively creating a parallel global oil market.

Others question whether the four countries should really be grouped together this way. “I don’t think it’s a useful construct, because our relationship with Russia is very different from our relationship with China,” said Eugene Rumer, director of the Russia and Eurasia program at the Carnegie Endowment and a critic of the axis concept. “In order to deal with these countries effectively, the threats that they pose to us, I think we need to look at them in a more disaggregated manner.”

Framing global politics as a competition between ideologically opposed blocs also risks raising the ire of non-Western democracies such as India, Brazil, and South Africa, all of whom have also sought to maintain good relations with Washington.

Some would say that’s the point: a country like South Africa can’t claim to uphold international law when it comes to Gaza while also effectively helping to enable Russia’s invasion of Ukraine.

But leaders of these countries, suffice it to say, don’t see it that way. “Many insist on dividing the world into friends and enemies. But the most vulnerable are not interested in simplistic dichotomies,” Brazilian President Luiz Inácio Lula da Silva said at a recent BRICS summit.

Kendall-Taylor acknowledged that US economic pressure and other pressures may have deepened ties between the axis countries, but asked, “What would have been the alternatives to the US policies that were pursued? When Russia invades Ukraine, should we not sanction them?”

Even if these countries form a coherent grouping today, many don’t expect it to last.

Rumer points at the Russian-Iran relationship as an example of the fragility of ties between these countries. The recently signed partnership between the two countries is notably not a mutual defense agreement — they’re under no obligation to help each other if they come under attack. In fact, it’s more or less an open secret that Russia, which operated air defense systems in Syria, tolerated Israeli air strikes against Iranian assets and proxies in that country for years.

“If I were Iran, I certainly wouldn’t count on Russia to be a reliable protector if, say, the United States and Israel decide it’s time to strike Iranian nuclear facilities,” Rumer said.

Complicating the discussion of the future of the CRINKs axis is the arrival of a new US president with a very different approach. In the last weeks of his presidency, President Joe Biden approved a classified national security memorandum, which reportedly lays out the threat posed by cooperation between the four countries — including efforts to interfere in America’s elections — and proposed measures to combat them.

Critics of the Biden administration often argued that for all the former president’s invocations of a struggle between democracy and authoritarianism, and upholding international law, it often fell short of those ideals in, for example, its support of the war in Gaza or its relationship with Saudi Arabia.

Trump, on the other hand, is unlikely to refer to these ideals at all. Noting the administration’s early decisions to pull out of the Paris climate agreements and the World Health Organization, Kendall-Taylor said that during Trump’s first term, “we really didn’t have people present in the UN and a lot of the committees where a lot of important business is done. And we ceded a lot of that space to China and other countries that might be sympathetic to their vision for the future.”

Some of Trump’s advisers are also inherently skeptical of taking on all four of these countries at once. Sometimes referred to as “prioritizers,” they argue that the US needs to extract itself from conflicts with Russia in Europe and Iran in the Middle East to focus on the real threat: China.

“Is it in America’s interest, are we going to put in the time, the treasure, the resources that we need in the Pacific right now badly?” national security adviser Mike Waltz said at a recent event, referring to US support for Ukraine.

During his first term, Trump famously “fell in love” with Kim during their unusual nuclear diplomacy, and for all his China-bashing rhetoric, often touted his good working relationship with Xi and pushed for a trade deal with Beijing. As he enters his second, he’s seeking a deal with Russia and Ukraine to end the war, and hasn’t ruled out seeking a new nuclear deal with Iran, despite the fact that he pulled out of the last nuclear deal during his first term.

Nasr, who served as a senior adviser on Afghanistan in President Barack Obama’s State Department, pointed to Henry Kissinger and Richard Nixon’s outreach to China during the Cold War as an example of how the US could seek to divide its adversaries rather than continuing to unite them.

“We’ve been following a kind of a moralistic, simplistic view that is based on casting your enemies sort of in the most negative light, which they may deserve, but that’s not strategy,” he said. “The clever strategy would be to say, ‘Okay, what incentive could get Iran to separate itself from Russia?’”

There are certainly fissures within the group. The Chinese-North Korean relationship — so close it’s been traditionally referred to as like “lips and teeth,” has reportedly been strained by the North Koreans’ deepening relations with Russia; Russian leaders are clearly uneasy about their growing economic reliance on China, but don’t have much choice in the matter as long as they keep pursuing the costly war in Ukraine. Exploiting those fissures to the US’s benefit is another matter.

Van Praagh is skeptical. “There’s not going to be any separating Putin’s Russia and Xi Jinping’s China,” he said. “And there’s not going to be any separating Russia from Iran and North Korea, because it needs their material support right now.”

Rather than compromising on Ukraine to focus on China, he argues that the outcome of the Ukraine war is what will determine whether China feels it can have its way in Taiwan. “We really have to achieve Ukrainian victory, and that means pushing Russia out of Ukraine, and that, in and of itself, is going to provide incredible opportunities to the whole world,” he said.

Of course, Trump has also expressed some sympathy toward Russia’s position that NATO was encroaching on its sphere of influence in Ukraine. And his position on the importance of defending Taiwan’s sovereignty has been pretty noncommittal. His rhetoric on Greenland and Panama and extreme hardball approach to an immigration dispute with Colombia suggests his views of spheres of influence might parallel Russia and China’s in some ways. As Yaroslav Trofimov of the Wall Street Journal wrote in a recent essay, “Today the concept of a rules-based international order looks more and more utopian.” We may instead be returning to a 19th-century style global order in which “empires recognized each other’s spheres of influence worldwide, including the right to oppress and dominate less powerful countries and peoples within those spheres.”

In other words, failing to defeat the axis, or divide it, the US may simply end up joining it.

]]>
https://earlybirdsinvest.com/are-americas-four-main-adversaries-really-in-cahoots/feed/ 0 56522
What RFK Jr. vs the CDC means for America’s health https://earlybirdsinvest.com/what-rfk-jr-vs-the-cdc-means-for-americas-health/ https://earlybirdsinvest.com/what-rfk-jr-vs-the-cdc-means-for-americas-health/#respond Thu, 28 Aug 2025 22:57:32 +0000 https://earlybirdsinvest.com/what-rfk-jr-vs-the-cdc-means-for-americas-health/

The simmering showdown between US Health Secretary Robert F. Kennedy Jr. and the leadership of the Centers for Disease Control and Prevention has finally boiled over.

The White House said on Wednesday that CDC director Susan Monarez was fired — and Monarez’s representatives quickly responded that she wouldn’t leave her post without a fight. In protest of the ousting and Kennedy’s leadership, four senior CDC leaders resigned.

The tension had been building for months. Once Kennedy took the helm of the US Department of Health and Human Services, he laid off thousands of workers at the CDC and other health agencies. He has rolled back longstanding vaccine policies over the objections of many experts inside and outside of the CDC. Then, earlier this month, a man angry about the Covid-19 vaccines fired nearly 200 bullets into a CDC office building. Although no one was hurt, CDC workers criticized Kennedy and others for stoking anti-CDC sentiment and for not speaking out after the incident. President Donald Trump has still not publicly commented on the shooting.

The final straw came yesterday when the Food and Drug Administration announced limited approval of new Covid vaccines updated to better match the variants currently circulating. The FDA approved the new shots — but only for the elderly and people who are at higher risk because of underlying health conditions. The vaccines had previously been approved for all Americans 6 months of age and older. The CDC would have been expected to make new Covid vaccine recommendations that matched the FDA’s narrower approval, excluding healthy adults, pregnant women, and children — but, according to the New York Times, Monarez refused to commit to that policy in a private meeting with Kennedy

What happened next was chaos. National news outlets reported Wednesday afternoon that Monarez had been fired, less than a month after her Senate confirmation. Over the next few hours, Monarez’s representatives responded that she was refusing to step down (her attorney suggests that her firing had been illegal), but the White House insisted she had, in fact, been terminated. And so began an exodus of more CDC leaders.

One of those officials — Demetre Daskalakis, director of the CDC’s National Center for Immunization and Respiratory Diseases — explained why he was leaving the agency in a post on X. He portrayed the CDC situation as an existential battle between science and anti-science, noting in his post that no one on his team had ever even briefed Kennedy since he was sworn in as US health secretary in April.

“I am unable to serve in an environment that treats CDC as a tool to generate policies and materials that do not reflect scientific reality and are designed to hurt rather than to improve the public’s health,” Daskalakis wrote. “Public health is not merely about the health of the individual, but it is about the health of the community, the nation, the world. The nation’s health security is at risk and is in the hands of people focusing on ideological self-interest.”

The CDC that will be left behind will be less science-driven and more beholden to Kennedy and his agenda — precisely the warning that the departing CDC officials are trying to send and a sentiment echoed by other public health organizations. “THE SUSTAINED ATTACKS ON PUBLIC HEALTH IN THE U.S. MUST END NOW,” read an all-caps statement sent by the Infectious Disease Society of America to the media.

But there’s a bigger story here than just the latest drama under Kennedy’s leadership: What’s unfolding is a fight over the narrative of public health in America — and for the public’s trust.

The American public is still unmoored after the Covid-19 pandemic, and two sides are trying to win out: Kennedy’s Make America Healthy Again movement along with the critics who attacked the public health establishment during that emergency, and the public health experts aligned with America’s scientific institutions. The outcome will determine the future of collective health in the US.

Kennedy argues that the public health establishment of the previous generation has failed the public and must be razed and replaced. If you look at the recent CDC personnel issues through this lens, then dismissing public health officials with decades of experience in their field is in service of that goal. On the other side, most scientists, public health experts, and CDC officials would argue that public health largely has a record of success — though with some mistakes and failures along the way.

America’s public health institutions did lose some trust during the pandemic amid confusing and often inconsistent guidance. But a longer record of vaccinations driving down disease and other public health campaigns yielding major gains in people’s well-being is clear from historical data and decades of peer-reviewed research.

Science may be on the CDC officials’ side, but we’re still learning exactly how the public actually feels about public health. How average people react to this drama and the conflicting messages that Kennedy and CDC officials are sending will determine the long-term consequences of this fight.

How does the public really feel about public health?

This parade of firings and principled resignations is in part a performance — and the audience is the American public.

As I have written before, 25 years ago, there was a pretty clear public health consensus in America. The federal government and major medical organizations were usually aligned on the major questions — questions like which vaccines to get. And the public was widely in support. In 2001, around the time the US declared measles had been eradicated, more than 90 percent of US adults said it was “extremely” or “very important” for people to get childhood vaccinations.

It is difficult to imagine such unanimity about any public health-related issue today.

Right now, the percentage of Americans who think childhood immunizations are important is below 70 percent. According to a 2024 Pew Research Center survey, only 26 percent of Americans have a great deal of faith in scientists to act in the best interests of the public, about the same percentage as those who say they have not too much or none at all (23 percent). That is much lower than in 2019, the pre-pandemic era, when 36 percent of Americans said they had a great deal of faith in science being in the public’s best interest and only 12 percent had none or little.

Most Americans are stuck in the middle; 50 percent say they have a “fair” amount of trust in scientists. One way to think about this group is that they are up for grabs.

Kennedy’s Make America Healthy Again movement has gained steam because many Americans desire a fresh approach to health and wellness; Kennedy remains one of the more popular active political figures in the country, despite criticism from all corners of the public health establishment. As the country’s top health official, Kennedy argues he has a mandate to overhaul public health policy on everything from vaccines, to the food supply, to fluoride in public water systems.

But the health risks of Kennedy’s policy agenda are real, and that is the message that public health experts, including the resigning CDC leaders, are trying to deliver to the public.

The US has already seen what happens when childhood vaccination rates drop, with the worst measles outbreak in 30 years taking hold this year in a poorly vaccinated Texas community. Dentists in Utah, where Kennedy helped herald the removal of fluoride from local water systems in April, are preparing for a surge in cavities. The introduction of fluoride into US water systems led to a large decline in cavities over many years; now, Kennedy’s policy agenda could move the country backward.

And now, the new restrictions on Covid vaccines announced yesterday could make it more difficult for many people to get them. Vaccines may not be as widely available at pharmacies, and insurers may not be willing to cover the vaccine without government approval. That could make it harder for both vulnerable people and their loved ones to get Covid shots. The science is clear on the relative safety of the Covid shots, and Kennedy has been criticized for the weak evidence that he has cited to justify the changes to the Covid vaccine guidance. People could get sick if these shots are harder to come by because of Kennedy’s policies.

This is always a challenge in public health.

Short of emergency lockdowns and mandates, public health has always been about soft power: Can you persuade the public to take certain precautions in the best interest of not only themselves but the people around them? And that authority is always fluctuating. Around 90 percent of Americans get their childhood shots, but less than 50 percent usually get their flu shot in a given year.

Now, the headwinds facing good public health policy are stronger than ever, with Kennedy and his movement representing an active opponent of many well-supported public health interventions in charge of US health policy. For a while, Monerez, Daskalakis, and others seemed prepared to try to work within the system that Kennedy controlled. But they no longer believe that is possible, so they are taking the fight to the public.

]]>
https://earlybirdsinvest.com/what-rfk-jr-vs-the-cdc-means-for-americas-health/feed/ 0 55621
Bitcoin Act Is Still America’s Playbook, Clarifies Senator Lummis https://earlybirdsinvest.com/bitcoin-act-is-still-americas-playbook-clarifies-senator-lummis/ https://earlybirdsinvest.com/bitcoin-act-is-still-americas-playbook-clarifies-senator-lummis/#respond Fri, 15 Aug 2025 10:29:25 +0000 https://earlybirdsinvest.com/bitcoin-act-is-still-americas-playbook-clarifies-senator-lummis/

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A morning soundbite from Treasury Secretary Scott Bessent briefly rattled Bitcoin and crypto markets on Thursday before a late-day clarification restored the policy baseline: the United States won’t be sellers, and “budget-neutral” options to grow the country’s bitcoin stockpile remain on the table. Senator Cynthia Lummis swiftly framed the endpoint. “America needs the BITCOIN Act,” she wrote, calling the legislation the operative blueprint for expanding a Strategic Bitcoin Reserve without tapping taxpayers.

In a Fox Business hit that ricocheted across X, Bessent said the government is “not going to be buying” additional bitcoin and added, “We’re going to stop selling that,” referencing a reserve he valued between $15 billion and $20 billion. Markets faded into the statement; by mid-day, bitcoin was off roughly 3.7%. The point that stuck—“we’re not going to be buying”—was clipped and shared widely, but it was only half the story.

Related Reading

Hours later, Bessent posted a clarifying note. “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order,” he wrote. “In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.’” The course correction aligned his comments with the administration’s March directive and the policy discussion that has matured since.

Bitcoin Act Is Still The Way Forward

Lummis, chair of the Senate Banking Subcommittee on Digital Assets, seized the moment to underline the fiscal constraint. “Secretary Scott Bessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR. America needs the BITCOIN Act.” In a separate reply to Bessent, she added: “I have a ₿ill for that.”

Her posts also flagged ongoing work “with Scott Bessent & Howard Lutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race.”

The legal and administrative scaffolding for a Strategic Bitcoin Reserve was set five months ago. On March 6, President Trump signed an executive order creating the SBR and a separate US Digital Asset Stockpile, directing agencies to capitalize the reserve with Bitcoin “finally forfeited” to the government and to develop budget-neutral strategies for further acquisition.

Related Reading

Lummis’s “BITCOIN Act” would take that framework from executive policy to statute and goes considerably further. The latest text lays out a five-year purchase program authorizing up to 200,000 BTC per year—1,000,000 BTC in total—paired with a 20-year minimum holding period and a quarterly, public cryptographic proof-of-reserves regime.

Where Bessent’s remarks intersect—and diverge—with that legislative ambition is gold. In March, he downplayed a formal revaluation of US gold as a credible budget lever, even as the broader policy conversation around the asset side of the federal balance sheet intensified. On Thursday, Bessent told Fox Business that a gold revaluation is “unlikely.” Lummis, by contrast, is explicitly proposing to mark gold to market in order to seed the SBR without new borrowing—an idea that has migrated from think-piece fodder to bill text but still faces macro, legal, and central-bank-independence scrutiny.

The bottom line is that Thursday did not mark a policy reversal so much as a restatement of sequencing. The executive branch will build the Strategic Bitcoin Reserve first with finally forfeited coins and, per Bessent’s clarification, is actively evaluating budget-neutral ways to expand it.

At press time, BTC traded at $118,751.

Bitcoin price
BTC falls below the 1.272 Fib extension, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

]]>
https://earlybirdsinvest.com/bitcoin-act-is-still-americas-playbook-clarifies-senator-lummis/feed/ 0 53309
Majority of America’s top 25 banks now signal crypto plans https://earlybirdsinvest.com/majority-of-americas-top-25-banks-now-signal-crypto-plans/ https://earlybirdsinvest.com/majority-of-americas-top-25-banks-now-signal-crypto-plans/#respond Sun, 10 Aug 2025 02:42:43 +0000 https://earlybirdsinvest.com/majority-of-americas-top-25-banks-now-signal-crypto-plans/

Over half of the 25 largest US banks are now weighing or rolling out crypto-related products.

An Aug. 8 status chart shared by River that tracks the giants across two lanes, custody and trading. 

The snapshot shows multiple firms moving from “not yet” to “exploring,” “announced,” or restricted access for high-net-worth clients, indicating that digital asset offerings are steadily entering mainstream wealth and capital-markets pipelines.

Concrete moves since early 2024 help explain the shift. Morgan Stanley considered letting its 15,000 brokers recommend spot Bitcoin exchange-traded funds (ETFs) to clients, working on guardrails for suitability and allocations, a sign of expanding distribution beyond unsolicited orders. 

More recently, Charles Schwab’s chief executive said that the brokerage plans to add Bitcoin and Ethereum trading for customers, citing strong demand to view all holdings on a single platform. 

PNC went further on the banking side, selecting Coinbase so that wealth and asset management customers can trade crypto directly through their PNC accounts rather than a separate venue. 

Custody and tokenization are advancing in parallel. State Street signaled plans to launch a stablecoin and tokenized deposits to improve settlement, followed by efforts to tokenize bonds and money market shares.

BNY Mellon has been surfacing repeatedly in filings and product builds, including administrator and cash-custodian roles in ETF documents. Additionally, the bank appeared as custodian for reserves tied to Ripple’s RLUSD stablecoin more recently. 

Citi has explored Solana for next-generation financial services and tokenization pilots, and reportedly considered custody services in early 2025.

JPMorgan is on a spree of crypto-related projects in 2025. In June, the bank initiated a pilot project for a tokenized deposit token issued on Base, intending to facilitate instant dollar transfers.

Furthermore, the bank’s CEO Jamie Dimon revealed they will test stablecoin services along with the tokenized deposit token pilot. Notably, Dimon did not take back his criticism of crypto.

Last week, JPMorgan allowed its customers to access Coinbase to make direct crypto purchases without leaving their dashboard.

Taken together, these developments align with River’s chart, indicating that many top banks are not opening the floodgates. Still, they are preparing channels, such as ETF access, restricted trading for wealth clients, third-party integrations, custody mandates, and tokenization pilots. 

Access remains uneven and often limited to high-net-worth or advisory clients, yet the direction of travel is clear. 

The largest US banks are shifting their focus from monitoring crypto to operational planning and selective rollouts, with recent initiatives serving as proof points that a broader product set is coming into focus.

Mentioned in this article
]]>
https://earlybirdsinvest.com/majority-of-americas-top-25-banks-now-signal-crypto-plans/feed/ 0 52418
America’s Bitcoin Bonanza: 40% Of Supply Under US Control – Analyst https://earlybirdsinvest.com/americas-bitcoin-bonanza-40-of-supply-under-us-control-analyst/ https://earlybirdsinvest.com/americas-bitcoin-bonanza-40-of-supply-under-us-control-analyst/#respond Tue, 05 Aug 2025 01:17:04 +0000 https://earlybirdsinvest.com/americas-bitcoin-bonanza-40-of-supply-under-us-control-analyst/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A fresh look at on-chain studies shows the United States far ahead in Bitcoin holdings. Investors and analysts are watching closely as countries and companies build out their positions. The sheer size of America’s stash is reshaping conversations about scarcity and value in the crypto world.

Geographic Breakdown Shows US Dominance

According to analysis from Fred Krueger, the US holds nearly 8 million BTC out of almost 20 million in circulation. That adds up to 40% of all existing coins.

Based on reports, a $120,000 valuation per BTC would put America’s holdings at around $936 billion. At the same time, US Bitcoin ETFs saw net inflows of $6 billion in July. It was the third-strongest month ever for these products, trailing only February and November 2024.

Supply outside America is much smaller. India comes in second with 1 million BTC, or 5% of the supply, worth about $120 billion at the same price point. Europe follows at 900,000 BTC (4.6%), valued at $108 billion.

China’s government holds roughly 194,000 BTC (1%), mostly from seizures, pegged at $23.3 billion. Together, Latin America and the rest of Asia each control about 400,000 BTC (2%), valued at $48 billion apiece. Africa and other regions combine for 300,000 BTC (1.5%).

BTCUSD now trading at $114,359. Chart: TradingView

Corporate Giants Hold Big Stakes

Reports have disclosed that public companies in the US are key players in the Bitcoin game. Strategy leads by a mile with 628,791 BTC on its books. Marathon Digital Holdings (MARA) sits next with 50,000 BTC, while XXI Capital holds 43,514 BTC.

Bitcoin Standard Treasury Company has 30,021 BTC, and Riot Platforms keeps 19,225 BTC. US President Donald Trump Media & Technology Group Corp. makes the list too, owning 18,430 BTC. That mix of companies spans from miners to financial services, showing how varied corporate interest has become.

Source: Bitcoin Treasuries by Bitbo.

India And Europe Keep Growing

Data shows India’s crypto surge continues despite a murky regulatory landscape. Most of the country’s holders are retail investors with small balances, but the sheer headcount places the country ahead of Europe.

In Europe, a blend of retail and institutions drives adoption. Still, growth here has been steadier than in India’s near-100% compound annual rate (CAGR) from 2018 to 2023—versus about 8% for traditional payments. That difference highlights crypto’s unique pull among Indian users.

Meanwhile, Bitbo’s recent chart also sheds light on national-level reserves. It shows over 200,000 BTC linked to the US and a similar figure for China.

The UK ranks third with 61,000 BTC, Ukraine fourth at 46,000. Smaller players like Bhutan, El Salvador, and Finland hold between 5,000 and 10,000 BTC.

Featured image from Pexels, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

]]>
https://earlybirdsinvest.com/americas-bitcoin-bonanza-40-of-supply-under-us-control-analyst/feed/ 0 51508
Trump signs GENIUS Act into law, activating America’s first regulatory framework for stablecoins https://earlybirdsinvest.com/trump-signs-genius-act-into-law-activating-americas-first-regulatory-framework-for-stablecoins/ https://earlybirdsinvest.com/trump-signs-genius-act-into-law-activating-americas-first-regulatory-framework-for-stablecoins/#respond Sun, 20 Jul 2025 01:18:08 +0000 https://earlybirdsinvest.com/trump-signs-genius-act-into-law-activating-americas-first-regulatory-framework-for-stablecoins/

President Donald Trump signed the GENIUS Act into law on July 18, pledging that the measure will secure “global dominance” in crypto technology.

The legislation gives the US its first federal framework for dollar‑backed stablecoins. Trump celebrated the passing of the bill, saying:

“Crypto has gone up more than any stock. Crypto makes the dollar look good. Crypto is good for the dollar, the nation.” 

He added that the GENIUS Act positions the country to lead the sector and vowed to approve broader crypto market structure legislation before the end of the year. 

Senate Banking Committee ranking member Tim Scott called the statute “regulatory clarity for the stablecoin industry” and said faster, cheaper payments would “solidify the US dollar’s dominance across the world.” 

Treasury Secretary Scott Bessent echoed the theme in an X post, thanking House Republicans for “actions that keep the promise” to make America the “crypto capital of the world.”

Stablecoin framework

The GENIUS Act creates a federal framework for issuing and overseeing payment stablecoins.

It assigns the Federal Reserve to license and supervise national-level, insured depository institutions, while permitting eligible, state-chartered firms to mint dollar-pegged tokens if they meet equivalent standards on reserves, disclosures, redemptions, and risk controls.

Issuers must back every token with high-quality liquid assets, such as cash, Treasury bills, or other short-dated government securities, that match their outstanding liabilities and provide regular attestation reports.

The law also directs bank regulators to set examination schedules, guarantees consumers the right to redeem at face value within specific time frames, and requires that reserve assets remain segregated unless customers give explicit consent for rehypothecation.

Last stretch

The House cleared the GENIUS Act 307‑122 on July 17, one day after adopting a 215‑211 motion to reconsider a procedural package that combined the GENIUS Act with the CLARITY Act and the Anti‑CBDC Surveillance Act.

Lawmakers first bundled the three measures on July 16 to expedite floor action, but that resolution did not constitute enrollable text. Committee staff then prepared the GENIUS language as a stand‑alone bill that both chambers could pass in identical form. 

The Senate approved the consolidated version late on July 17, completing the bicameral process required for enrollment and presentation to the White House.

Mentioned in this article
]]>
https://earlybirdsinvest.com/trump-signs-genius-act-into-law-activating-americas-first-regulatory-framework-for-stablecoins/feed/ 0 48610
Trump says Bitcoin eases pressure on dollar, boosts America’s crypto dominance https://earlybirdsinvest.com/trump-says-bitcoin-eases-pressure-on-dollar-boosts-americas-crypto-dominance/ https://earlybirdsinvest.com/trump-says-bitcoin-eases-pressure-on-dollar-boosts-americas-crypto-dominance/#respond Sun, 29 Jun 2025 04:08:53 +0000 https://earlybirdsinvest.com/trump-says-bitcoin-eases-pressure-on-dollar-boosts-americas-crypto-dominance/

President Donald Trump said Bitcoin (BTC) transactions “take a lot of pressure off the dollar” and argued that US leadership in digital assets blocks China from dominating the sector.

He made the comments during a White House press conference on June 27, which was held after what he described as a major Supreme Court victory for his administration.

Trump called cryptocurrency “an industry” and said he became a “fan of crypto” several years ago. He noted that Bitcoin and other tokens fell less than equities during the most recent market decline and claimed the US has “created a very powerful industry” that now produces jobs and investment. 

He added that more merchants now accept Bitcoin for payments and repeated his view that if the US did not nurture digital assets, “China would.”

Personal holdings contested on Capitol Hill

A reporter asked whether Trump would pause his family’s cryptocurrency ventures so that undecided Democrats might support pending digital asset legislation.

Trump declined, stating that his sons manage the portfolio and that he “doesn’t care about investing” while in office. He said that US dominance of the sector matters more than personal finance and insisted that his involvement did not hinder congressional negotiations.

The President’s family is currently involved in World Liberty Financial (WLFI), a credit market with its own stablecoin, USD1. 

Additionally, they formalized ties with the team behind the TRUMP memecoin on June 6, with Eric Trump adding that the WLFI would acquire a substantial position in the token for their treasury.

Draft bills in the House and Senate aim to provide clarity on topics related to cryptocurrency, such as determining when tokens qualify as securities, establishing a federal license for trading platforms, and creating a framework for stablecoins in the US. 

Democratic sponsors have urged Trump to divest to help the measures advance but the president said statutory debates should proceed on their own merits. As a result, a delay in approving the GENIUS Act happened, which only recently left the Senate to progress in the House.

Meanwhile, Trump  recently called for a clean version of the stablecoin-focused bill to streamline its approval and create clarity for this market in the US.

Mentioned in this article
]]>
https://earlybirdsinvest.com/trump-says-bitcoin-eases-pressure-on-dollar-boosts-americas-crypto-dominance/feed/ 0 44727
Stock Market Pullback in Sight As Several of America’s Problems Still Remain, Warns Former JPMorgan Strategist https://earlybirdsinvest.com/stock-market-pullback-in-sight-as-several-of-americas-problems-still-remain-warns-former-jpmorgan-strategist/ https://earlybirdsinvest.com/stock-market-pullback-in-sight-as-several-of-americas-problems-still-remain-warns-former-jpmorgan-strategist/#respond Tue, 10 Jun 2025 11:29:28 +0000 https://earlybirdsinvest.com/stock-market-pullback-in-sight-as-several-of-americas-problems-still-remain-warns-former-jpmorgan-strategist/

The former chief market strategist at JPMorgan, Marko Kolanovic, is offering his outlook on the US stock market in his first interview since leaving the trillion-dollar bank.

In a CNBC interview, Kolanovic says a correction could be incoming for the US stock market amid a loss of momentum by stocks such as the electric carmaker Tesla and the analytics software firm Palantir Technologies.

The analyst also warns that the equities are trading close to record high levels, but America is still staring at the same issues that triggered a stock market correction earlier this year.

“That [loss of momentum] could be a catalyst for a bit of a correction because close to all-time highs, but we still have all the problems. We have a trade war, we had a sort of signs of economic slowdown, valuations are back to highs. So that’s sort of what I’m kind of expecting – a little bit of a pullback here.”

Kolanovic believes that a potential pullback could ultimately reward patient investors, provided the likelihood of a US economic contraction does not significantly increase.

“There are some cheap aspects of US markets as well, and maybe wait for that garden variety sell-off that can be maybe 5%, 10%.

And if we still don’t have the recession probability shooting up, then it’s a buy opportunity. But I would keep an open mind that maybe at that point there is increased probability of recession and maybe even that 5% is not a buy at that [point].”

 

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

]]>
https://earlybirdsinvest.com/stock-market-pullback-in-sight-as-several-of-americas-problems-still-remain-warns-former-jpmorgan-strategist/feed/ 0 41215