Crypto
Prospects for Improved Relations Between the Cryptocurrency Industry and Banks Under the Trump Administration
With just over two weeks left until Donald Trump takes office, there are prospects that the relationship between the cryptocurrency industry and the banking sector, which has been at odds, could change positively.
According to The Block, a cryptocurrency-focused media outlet, TD Cowen predicts that under the Trump administration, banks may see an improvement in their relationship with the cryptocurrency industry.
Jaret Seiberg and the Washington Research Group stated in a report, “Banks have the responsibility to comply with Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) regulations and manage risks such as liquidity and concentration,” adding, “If the Trump administration takes power, it is inevitable that the relationship between traditional finance and the cryptocurrency industry will change positively.”
However, they also mentioned that some banks may still take a cautious stance. They said, “Some banks may still see risks in increasing relationships with cryptocurrencies,” and “this could be targeted by new banks.” Additionally, stablecoins (assets linked to the value of fiat currency) were highlighted as the cryptocurrency sector that banks would be most interested in, as banks hold cash, making them advantageous for issuing stablecoins.
In the U.S., there has been ongoing conflict between the cryptocurrency industry and the traditional financial sector, particularly banks. There have been conspiracy theories suggesting that banks have implicitly enforced cryptocurrency-related sanctions, known as Operation Chokepoint 2.0. Some cryptocurrency figures have claimed that banks have tried to restrict access to traditional financial services for the cryptocurrency industry.
Brian Armstrong, the founder of Coinbase, commented on Operation Chokepoint 2.0, saying, “It actually happened. Unethical and un-American actions occurred under the Biden administration,” and “We are currently gathering evidence from victims through the Freedom of Information Act (FOIA).”
XRP Mining, a UK-registered cloud mining platform, offers mining services for Bitcoin, Dogecoin, and other cryptocurrencies. The company recently released a mobile application aimed at giving users access to manage their cloud mining contracts and returns directly from their devices.
The platform positions itself as an accessible solution for individuals looking to participate in crypto mining without physical equipment.
Key points about the app launch:
- It also has a simple interface to check mining contract details, track your daily earnings, and manage investments within the app.
- On security, the app implements a system comprised of McAfee and Cloudflare tools designed to secure data and assets.
- App registration of new users is said to have a bonus of $15 and can also receive $0.6 every day with just logins.
- It offers contracts with various durations and budgets, a one-day contract for $15, for instance.
- Customer service is available 24/7, with multilingual support and app-based access for uninterrupted monitoring of operations.
According to a company spokesperson, projections for 2026 include Bitcoin reaching $150,000, Litecoin reaching $200, Dogecoin surpassing $1, and XRP hitting $10. The company describes the app as a timely release aligned with these expectations. Their stated aim is to enhance convenience and flexibility in cloud mining services.
Getting Started with XRP Mining Cloud Services
1. Firstly, users need to go to the official website and register with an email address.
2. When users are registered, they choose a contract according to their budget and recharge the account. The platform offers a number of default contracts, such as:
- New User Experience Contract: Investment of $100, term of 2 days, daily returns of $5.0, total returns of $110.
- Avalon Miner A15-194T: Investment of $500, 7-day term, daily income of $6.25, total return of $543.75.
- Bitcoin Miner S21 Pro: Investment of $2,000, 15-day term, daily income of $27, total return of $2,405.
- Bitcoin Miner S21 XP Imm: Investment of $8,800, 40-day term, daily income of $133.76, total return of $14,150.4.
- Avalon Air Cooling Mining Box-40ft: Investment of $28,000, 50-day term, daily income of $490, total return of $52,500.
Additional contracts are listed on the official platform for those seeking different investment scales.
3. After activating a contract, the platform states that earnings will be credited daily. Once the balance reaches $100, users may withdraw to a digital wallet or reinvest it into another contract.
Background on XRP Mining
XRP Mining claims that it has operations in more than 150 countries and more than 5 million users. The company claims that it uses renewable power across all of its mining facilities and provides cloud mining without the need for users to store hardware.
Its priority, per its documentation, is on reliable, secure, and eco-friendly access to mining.
Conclusion
As interest in passive income options through cryptocurrencies remains steady amid market volatility, platforms like XRP Mining present structured models based on fixed contracts and energy-efficient operations.
Individuals considering participation are advised to assess contract terms, platform conditions, and personal risk before proceeding.
Disclaimer: This is a sponsored post. The Crypto Times does not take any editorial responsibility for the accuracy, quality and fairness of the published content. We advise our readers to always do their own research before engaging with any products mentioned on our website.
Cryptocurrency
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Bitcoin
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Ether
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ETHEUR_RR
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Solana
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Algorand
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ARB
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Avalanche
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Bitcoin Cash
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Cardano
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ADAUSD_RR
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Chainlink
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Cosmos
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Ether/Bitcoin Ratio
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Filecoin
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Internet Computer
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Litecoin
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NEAR
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Ondo
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DOT
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Polygon
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Stellar Lumens
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Sui
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CME CF Sui-Dollar Reference Rate – New York Variant
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Tezos
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XRP
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CME CF XRP-Dollar Reference Rate New York Variant
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