Today in Crypto, Robert Kiyosaki focuses on a global shortage of cash is driving the market crash and says he holds Bitcoin and gold, CEO Jeff Park has expressed support for the CFTC to take the lead in crypto regulation. Meanwhile, Tether has expanded its commodity lending strategy, with $1.5 billion already deployed to traders.
Robert Kiyosaki says Cash Crunch Driving Crash, remain bullish on bitcoin, gold
Robert Kiyosaki, author of Rich Dad Poor Dad, told his 2.8 million followers on X that he is not selling his bitcoin or gold Despite sharp denials.
“All the bubbles have burst,” he said in a post on Saturday, adding that the real reason markets are falling is a global cash shortage. “The cause of all the market crashes is that the world needs cash,” he added.
Kiyosaki said he expects what he calls “The Big Print,” citing Lawrence Lepard’s thesis that governments will engage in massive money creation to cover ever-increasing debt loads.
“Bug printing is about to begin … which will make gold, silver, bitcoin, and Ethereum … more valuable as fake crash currencies,” he said. He advised those in need of cash to consider selling some assets, claiming most of the panic stems from liquidity needs rather than persuasion.
CFTC Over Sec’s Crypto Oversight is ‘in the right direction’ – Jeff Park
Despite some complexity around the recently proposed The Crypto Market Structure Bill, a clearer picture is starting to emerge regarding the governance of the crypto market, according to Procap BTC Chief Investment Officer Jeff Park.
“The CFTC will own a larger domain over crypto than the SEC,” Park said said In an interview with crypto entrepreneur Anthony Pompliano published on YouTube on Friday, while emphasizing that there is still “a lot of complexity among different stakeholders.”
“I think the direction is right in my opinion,” he said. “The CFTC is in the business of financial innovation, and it’s in the business of managing capital efficiency, and action products and derivatives,” he said, explaining that in line with what the crypto industry is building, a new layer of regulation that brings capital efficiency to different speeds.
Park also said that treating crypto as a commodity is in line with the international nature of the market.
I -tether to accelerate the push for commodity lending with cash, USDT credit
StableCoin Issuer Tether is expanding its presence in commodity lending, with billions of dollars already deployed in the sector, according to CEO Paolo Ardoino.
In an interview with BloombergArdoino said Tether has extended nearly $1.5 billion in credit to commodity traders to date, providing financing in both cash and the USDT (USDT) StableCoin.
The company targets traditional commodity products, including agricultural products and oil, and plans to increase its exposure. “We’re going to expand a lot,” Ardoino said.
The lending activity falls within Tether’s recently launched trade finance unit—a line of business typically focused on short-term credit used to facilitate the movement of goods throughout the global supply chain. In the commodity world, trade finance typically provides entrepreneurs with the funding needed to purchase, transport and deliver cargo.
Bloomberg reports that some companies may be reluctant to borrow in USDT instead of dollars, though that reluctance may be tempered by Tether’s growing financial clout. With nearly $184 billion worth of USDT in circulation, Tether is among the Most profitable company in the world on a per-employee basis.
Tether’s push into commodities builds on its existing footprint in the sector. Its tokenized gold product, Tether goldhas advanced in size during the Bullion rally, and Ardoino recently said The company holds more than 100 tons of physical gold.
