greenlights – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 11 Jul 2025 13:42:17 +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 greenlights – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Up to $22,500 per Participant To Be Handed Out as US County Greenlights Guaranteed Income Pilot Program: Report https://earlybirdsinvest.com/up-to-22500-per-participant-to-be-handed-out-as-us-county-greenlights-guaranteed-income-pilot-program-report/ https://earlybirdsinvest.com/up-to-22500-per-participant-to-be-handed-out-as-us-county-greenlights-guaranteed-income-pilot-program-report/#respond Fri, 11 Jul 2025 13:42:17 +0000 https://earlybirdsinvest.com/up-to-22500-per-participant-to-be-handed-out-as-us-county-greenlights-guaranteed-income-pilot-program-report/

A guaranteed income pilot program is launching in one US county to help those already enrolled in government aid programs pay for basic needs.

Contra Costa County in California will provide 178 people with up to $1,250 per month for 18 months, reports CBS News.

The program has just been approved by the Contra Costa County Board of Supervisors, which previously allocated $3.25 million in county funds and another $1 million in state funds for the effort. The program will be administered by the county’s Employment and Human Services Department.

Those eligible are from four specific populations: youth transitioning out of foster care, families with young children experiencing financial hardship, low-income seniors and people on probation returning to the community after incarceration.

Participants also need to be enrolled in county-sponsored programs to be eligible, such as CalWORKs. The first payments are expected to go out on January 15th.

Says Marla Stuart, director of the county’s Employment and Human Services Department,

“I think you can provide the most, the largest percent of the budget, to the benefits themselves if you don’t have to invest in administrative overhead, advertising, applications, determining eligibility and then managing the case throughout the period.”

Board chair Candace Andersen says the program is a pilot that may result in an expanded effort, noting there are more than 300,000 people in Contra Costa County on some form of government assistance.

“Most pilots are put in place to say, ‘Hey, does this work? Should we then expand it into a bigger program that might help even more people?’ And that’s what this is.”

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]]> https://earlybirdsinvest.com/up-to-22500-per-participant-to-be-handed-out-as-us-county-greenlights-guaranteed-income-pilot-program-report/feed/ 0 47046 SEC greenlights Trump Media’s $2.3B Bitcoin Treasury deal https://earlybirdsinvest.com/sec-greenlights-trump-medias-2-3b-bitcoin-treasury-deal/ https://earlybirdsinvest.com/sec-greenlights-trump-medias-2-3b-bitcoin-treasury-deal/#respond Sat, 14 Jun 2025 19:25:11 +0000 https://earlybirdsinvest.com/sec-greenlights-trump-medias-2-3b-bitcoin-treasury-deal/

The U.S. Securities and Exchange Commission (SEC) greenlighted the registration statement filed by Trump Media and Technology Group for its $2.3 billion Bitcoin (BTC) Treasury deal on June 13, an SEC filing shows. Trump Media, the company behind Truth Social, is a public company that U.S. President Donald Trump’s family significantly controls.

The SEC “declared effective” Trump Media’s S-3 registration statement, which was filed on June 6. Companies file Form S-3 to register the sale of securities with the SEC. Following the SEC’s approval, Trump Media filed a corresponding final prospectus with the agency on Friday.

According to the filing, Trump Media raised $2.3 billion from approximately 50 investors through the resale of around 56 million shares of equity and 29 million shares underlying convertible notes. Trump Media touted the deal, which was closed on May 30, as “one of the largest Bitcoin treasury deals for a public company.”

A Bitcoin Treasury is part of Trump Media’s aggressive expansion strategy

In a press release, Trump Media CEO and President Devin Nunes stated that the company is “aggressively” expanding with the aim of “transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”

The establishment of a Bitcoin Treasury will place BTC in Trump Media’s balance sheet, alongside cash and cash equivalents, giving it shareholders exposure to BTC. Crypto.com and Anchorage Digital will handle custody of Trump Media’s Bitcoin Treasury holdings.

Announcing the deal on May 27, Nunes noted that a Bitcoin Treasury will allow the company to defend itself “against harassment and discrimination by financial institutions.”  He added that it will also “create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+,” a streaming platform.

The Bitcoin Treasury is just one of the avenues Trump Media is using to cement its place in the Bitcoin market. On June 5, the company filed with the SEC to launch a Bitcoin exchange-traded fund (ETF): Truth Social Bitcoin ETF. Crypto.com will be the exclusive custodian for all BTC held by the ETF, which will reflect BTC’s price performance.

Don Wilson invested $100 million in Trump Media’s Bitcoin Treasury deal

According to a report by the Financial Times (FT), Don Wilson, founder and CEO of DRW Investments, one of the world’s largest trading firms, poured $100 million in Trump Media’s Bitcoin Treasury fundraising round.

According to the report, DRW Investments bought over 3.8 million shares in Trump Media, according to an SEC filing. This makes DRW among the biggest investors in Trump Media’s bet on a Bitcoin Treasury.

The investment raises concerns of conflict of interest with the current U.S. administration since Cumberland, a crypto liquidity provider controlled by Wilson, has clearly benefited under the second Trump administration. In March, the SEC dropped a lawsuit initiated under the leadership of former SEC Chair Gary Gensler against Cumberland, which had alleged that it was operating as an unregistered securities dealer by selling crypto assets.

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]]> https://earlybirdsinvest.com/sec-greenlights-trump-medias-2-3b-bitcoin-treasury-deal/feed/ 0 42017 U.S. SEC greenlights ProShares XRP futures ETFs for April 30 launch https://earlybirdsinvest.com/u-s-sec-greenlights-proshares-xrp-futures-etfs-for-april-30-launch/ https://earlybirdsinvest.com/u-s-sec-greenlights-proshares-xrp-futures-etfs-for-april-30-launch/#respond Mon, 28 Apr 2025 02:42:58 +0000 https://earlybirdsinvest.com/u-s-sec-greenlights-proshares-xrp-futures-etfs-for-april-30-launch/

The U.S. Securities and Exchange Commission (SEC) has approved the launch of three XRP futures-based exchange-traded funds (ETFs) by ProShares Trust on April 30, an SEC filing shows. On Jan. 17, days before the now crypto-friendly President Donald Trump was inaugurated, ProShares had proposed the following ETFs:

  • Ultra XRP ETF, which will provide 2x leverage
  • Short XRP ETF, which will provide inverse (-1x) leverage
  • Ultra Short XRP ETF, which will provide inverse (-2x) leverage

These will be the second, third, and fourth XRP-related ETFs to be launched in the U.S. On April 8, the first XRP futures ETF by Teucrium started trading at the New York Stock Exchange (NYSE) and saw a “terrific response.”

It is important to note, however, that a futures-based ETF provides exposure to the price movements of XRP futures contracts. In other words, ProShares’ ETFs will track the price of XRP through the XRP Index. This means that, unlike a spot ETF, which would require buying XRP tokens, a futures XRP ETF allows placing bets on XRP’s price without holding the token itself.

ProShares’ separate application for spot XRP ETFs is still pending with the SEC. However, while the U.S. dithers, the first spot XRP ETF by Hashdex started trading in Brazil earlier this week.

It does not, however, discount the importance of the launch of these XRP futures ETFs. These products will offer a regulated way to profit from the price movement of XRP, opening the doors for institutional interest.

Impact on XRP price

The futures-ETF approval had a positive impact on the price of XRP, which rose by 3.5% over the past 24 hours to $2.27 at the time of writing, CryptoSlate data shows. The market cap of XRP now stands at over $312 billion.

It is interesting to note that the price of all the other tokens with the biggest market caps, except Bitcoin (which grew by 0.11%), has declined over the past 24 hours. This indicates that the XRP price has moved against the market, experiencing the largest spike in price among the top 10 tokens.

Ripple’s difficult relationship with the SEC has improved

The launch of XRP-related ETFs in the U.S. would be considered a big win for Ripple, the company behind XRP. Ripple was in hot water with the SEC for years. However, that has changed since Trump took over and his nominee, Paul Atkins, became SEC chairman.

Trump, who adopted a crypto-friendly stance for his second term, and Atkins, a crypto advocate and former SEC commissioner, have taken a widely different approach than their predecessors. Speaking at a roundtable held by the SEC’s Crypto Task Force on Friday, Atkins said:

“The market itself seems to indicate that the current framework badly needs attention.”

Atkins added that crypto innovation “has been stifled for the last several years” because of the SEC’s approach under former chair Gary Gensler.

In 2020, the SEC sued Ripple, alleging that it violated securities laws by selling XRP, which the agency considered to be an unregistered security.

In July 2023, Ripple secured a partial victory when the judge decided that XRP does not qualify as a security when sold on secondary markets like exchanges. However, institutional sales of XRP constituted unregistered securities—the judge levied a fine of $125 million, but the SEC appealed the decision.

On March 19, Ripple CEO Brad Garlinghouse announced that the SEC has agreed to drop the appeal, subject to Commission vote and approval. Garlinghouse declared that the landmark “case has ended. It’s over,” calling the moment a “historic victory.”

On April 10, Ripple and the SEC jointly filed a motion to pause the proceedings of the lawsuit to discuss settlement terms.

The Ripple SEC lawsuit resolution will have broader implications on the crypto market as it would set a precedent to prove tokens traded on exchanges are not necessarily securities.

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]]> https://earlybirdsinvest.com/u-s-sec-greenlights-proshares-xrp-futures-etfs-for-april-30-launch/feed/ 0 33193 Texas Senate Banking Committee greenlights Bitcoin reserve bill for floor voting https://earlybirdsinvest.com/texas-senate-banking-committee-greenlights-bitcoin-reserve-bill-for-floor-voting/ https://earlybirdsinvest.com/texas-senate-banking-committee-greenlights-bitcoin-reserve-bill-for-floor-voting/#respond Fri, 28 Feb 2025 07:55:00 +0000 https://earlybirdsinvest.com/texas-senate-banking-committee-greenlights-bitcoin-reserve-bill-for-floor-voting/

The Texas Senate Banking Committee unanimously approved a bill on Feb. 27 to create a state-managed Bitcoin (BTC) and crypto reserve, sending the proposal to the full Senate for consideration.

Senate Bill 21 (SB-21), introduced by State Sen. Charles Schwertner, authorizes the Texas Comptroller of Public Accounts to acquire, manage, and trade Bitcoin and other cryptocurrencies.

Lawmakers have argued that holding Bitcoin could protect state financial reserves from inflation and economic instability. Schwertner originally drafted the bill to focus solely on Bitcoin but revised it in February to include other digital assets.

The change followed President Donald Trump’s Jan. 23 executive order directing a federal commission to evaluate the feasibility of a national digital asset reserve.

The bill emphasizes Bitcoin’s potential to strengthen Texas’ financial security. It states:

“Bitcoin and other cryptocurrencies can serve as a hedge against inflation and economic volatility.”

Pierre Rochard, vice president of research at Bitcoin mining firm Riot Platforms, testified in favor of the bill during a Feb. 18 public hearing preceding the committee evaluation.

He argued that Bitcoin’s transparent and auditable nature makes it a strong asset for public financial management. Rochard also warned that Texas must prepare for future economic downturns despite its current strong economy.

Nationwide legislative efforts

Texas is among numerous states exploring the creation of Bitcoin reserves. As of February, more than 20 states had introduced proposals to allocate a portion of public funds to Bitcoin and other digital assets. These initiatives aim to diversify state financial holdings and hedge against economic uncertainties.

Other states, including Oklahoma, Arizona, and Utah, have introduced similar measures to diversify their financial holdings. Oklahoma lawmakers recently advanced their Bitcoin reserve bill through a House committee, with the legislation slated for a floor vote next.

Similarly, Arizona’s Senate Finance Committee approved a bill permitting up to 10% of public funds, including pension systems, to be invested in cryptocurrencies. Utah is also progressing with legislation that would allow the state treasurer to allocate up to 5% of public funds to digital assets.

However, not all efforts have been successful. States such as Montana, North Dakota, and Wyoming have recently rejected similar Bitcoin reserve proposals, citing concerns over the volatility and speculative nature of digital assets.

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