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Major News RIPPLE Advances In CBDC Push (Huge Friend Tech Data Leak)

Originally aired on August 21, 2023

In this episode of the O Show with host Wendy O, several key topics were discussed. First, major news was shared about Ripple’s advances in the CBDC (central bank digital currency) push, with over eight countries building CBDCs on Ripple’s XRP Ledger. Meanwhile, a significant data leak from Friend Tech highlighted concerns about the platform’s security. Wendy emphasized the importance of not making irrational decisions in both trading and life, and the significance of maintaining a trading and investing journal to track emotions and behaviors. Additionally, Bitcoin price action and potential upcoming price movements were analyzed, along with discussions on the SEC’s stance on XRP, the SEC’s regulatory actions through enforcement, and Gemini’s push to have a lawsuit thrown out. The episode also covered the surge of the Donut Reddit token and the release of new tokens for Avalanche. Wendy cautioned viewers about potential risks associated with these developments and encouraged caution when using third-party apps like Friend Tech.

Ripple Advances in CBDC Push:

  • Over eight countries building CBDCs on Ripple’s XRP Ledger
  • Ripple’s CBDC platform allows for central banks and institutions to issue, distribute, and manage their CBDCs
  • The SEC appeal in the Ripple case highlights the complexity and significance of the lawsuit’s outcome on the nature of XRP

Data Leak and Security Concerns with Friend Tech:

  • A data leak exposed over 101,000 Friend Tech users’ ETH addresses
  • Friend Tech tokenizes Twitter-like accounts on the XRP Ledger
  • Concerns about privacy and security have been raised due to the third-party app’s access to users’ information

Bitcoin Price Action and SEC Enforcement:

  • Bitcoin’s price consolidation between $26,500 and $24,800 analyzed
  • The SEC’s recent enforcement actions against various crypto companies, including Gemini and Crypto Lender, discussed
  • Hester Pierce’s concern about the SEC writing rules through enforcement actions highlighted

Expanded Correlation Between Bitcoin and U.S. Real Yields:

  • Bitcoin’s 30-day correlation with the 10-year U.S. inflation index turned negative
  • The inverse relationship between Bitcoin and U.S. real yields may impact Bitcoin’s price movement
  • Investors speculate on potential Bitcoin price pump due to the correlation with real yields

Reddit Token Donut Surges Amidst Listing Speculation:

  • Donut, an ERC20 token used on Reddit to reward user contributions, experienced a 300% surge in value
  • Speculation on potential listings on major exchanges driving the token’s price increase
  • Caution advised due to potential market volatility and risks associated with meme tokens

Avalanche’s Token Unlock and Potential Price Impact:

  • 9.4 million new Avalanche tokens to be put into circulation, representing 2.77% of the total circulating supply
  • Strategic partners, the foundation, the team, and airdrop participants receive token allocations
  • Potential price impact due to increased token supply and potential selling pressure from unlocked tokens

00:00 – Intro

05:50 – The entire crypto market

06:15 – BTC daily, 12h and 4h

08:10 – XRP price analysis

09:25 – ADA price analysis

11:50 – Ripple CBDC push

13:20 – SEC says XRP itself is not a security

15:40 – Ripple CTO explains case complexity

18:25 – How this Ex SEC chair played the system

22:40 – SEC targets crypto asset nodes

24:05 – How the O Show works

25:50 – Back to node story

27:35 – Hester Pierce slams SEC actions

30:40 – SBF to leave jail 5 days a week

33:20 – Gemini pushes to get lawsuit dismissed

35:20 – BTC price movements – What’s happening?

38:15 – More BTC futures ETF filed

39:10 – Friend Tech data leak

43:10 – Reddit token $DONUT surges – Here’s why

44:10 – Avalanche AVAX token unlock event

46:10 – AVAX price action

46:50 – Parenting and boundaries

48:40 – Binance halts fiat withdrawals in Europe