Brakes – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 12 Jun 2025 02:07:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Brakes – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Connecticut Slams the Brakes on All Government Crypto Activity https://earlybirdsinvest.com/connecticut-slams-the-brakes-on-all-government-crypto-activity/ https://earlybirdsinvest.com/connecticut-slams-the-brakes-on-all-government-crypto-activity/#respond Thu, 12 Jun 2025 02:07:31 +0000 https://earlybirdsinvest.com/connecticut-slams-the-brakes-on-all-government-crypto-activity/

Connecticut has decided to walk away from crypto by becoming the first state to fully block government involvement in digital assets.

On June 10, lawmakers unanimously approved Public Act No. 25-66, which applies strict limits on the state and its local governments’ interactions with cryptocurrencies.

Under the new law, public agencies are banned from creating or holding any kind of crypto reserve. They are also not allowed to accept digital currencies as payment for taxes, fees, or any other amount owed to the state or local authorities.

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It also places new requirements on crypto-related businesses operating in the state. Companies that transfer money using virtual currencies must clearly warn customers about the risks.

These businesses must display a message that says:

LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS MAY NOT BE RECOVERABLE AND TRANSACTIONS IN VIRTUAL CURRENCY ARE IRREVERSIBLE.

Additionally, there are new protections in place for younger users. Companies must verify the identities of anyone under 18 and give full details about each crypto transaction when requested.

Furthermore, the legislation updates Connecticut’s financial rules, which include defining terms such as “digital wallet” and “kiosk” and ensuring that licensed crypto firms follow compliance standards. These updates give the state more control over how crypto services operate locally.

Recently, the Monetary Authority of Singapore (MAS) announced new policies regarding overseas services provided by Singapore-based cryptocurrency firms. What do the regulations say? Read the full story.

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]]> https://earlybirdsinvest.com/connecticut-slams-the-brakes-on-all-government-crypto-activity/feed/ 0 41513 Meta Shareholders Slam The Brakes On Bitcoin Plan – Details https://earlybirdsinvest.com/meta-shareholders-slam-the-brakes-on-bitcoin-plan-details/ https://earlybirdsinvest.com/meta-shareholders-slam-the-brakes-on-bitcoin-plan-details/#respond Sun, 01 Jun 2025 09:04:36 +0000 https://earlybirdsinvest.com/meta-shareholders-slam-the-brakes-on-bitcoin-plan-details/

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Meta Platforms’ shareholders voted against a plan to see if the company should hold Bitcoin as part of its cash reserves. Nearly 9 million shares were abstentions, and almost 205 million shares counted as broker non-votes. The vote happened at the company’s annual meeting this week. Short of support, the proposal failed to move forward.

Shareholders Reject Bitcoin Proposal

According to public filings, investor Ethan Peck of the National Center for Public Policy Research asked Meta to study whether swapping some of its $72 billion in cash, cash equivalents, and marketable securities for Bitcoin could help protect value.

Peck pointed out that inflation and low returns on bonds have been eroding the company’s cash hoard. He noted that Bitcoin’s fixed supply and past price gains might offer a hedge. Some shareholders voted in favor, but most sided with the company’s board.

Board Cites Solid Treasury Management

Based on reports, Meta’s directors said there was no need for a separate Bitcoin study. They argued that the company already has a plan to keep its cash safe.

Meta’s leaders wrote that they review many kinds of investments on a regular basis to ensure they have enough liquid funds for operations. They did not comment on whether Bitcoin was a good or bad choice. Instead, they said their existing process meets all their needs.

BTC is now trading at $104,470. Chart: TradingView

Push For Corporate Bitcoin Falls Short

The National Center for Public Policy Research has tried similar pushes at Microsoft and Amazon. Microsoft shareholders in December 2024 rejected a proposal to put Bitcoin on the balance sheet.

Amazon faced a comparable idea but did not act on it. Even when some tech leaders make hints—Mark Zuckerberg named his goats “Bitcoin” and “Max,” and board member Marc Andreessen sits on Coinbase’s board—big firms remain cautious. They worry about price swings and extra rules that come with owning cryptocurrency.

Meta Shifts Focus To Stablecoin

Rather than buy Bitcoin, Meta now seems more interested in stablecoins. Based on reports, the company is in talks with crypto infrastructure partners about using a stablecoin for global payouts. This would let Meta send money faster and cheaper across borders.

It also marks a return to crypto efforts after Meta closed its Diem project. Back in 2022, Diem was shelved amid US regulatory pushback. Meta’s new moves suggest it wants a piece of payments tech, but without the wild price swings of Bitcoin.

For now, Bitcoin will not sit on Meta’s balance sheet. Some public companies like Tesla and Strategy have placed big bets on Bitcoin. Meta’s board, however, prefers a more traditional treasury setup. By leaning toward stablecoins, they show they want speed and stability over the dramatic ups and downs of crypto.

Featured image from Unsplash, chart from TradingView

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