🚀 GM,
Grab your favorite beverage (even if it’s a little early, we won’t tell), and get ready for the juiciest headlines that have been lighting up the Internet this week! 📰
XRP’s Wild Ride on a BlackRock Rollercoaster: Here’s the 411!
Robert Kiyosaki Serves Up a Financial Wake-Up Call: BTC and Gold Are Your Armor!
Got Money on Your Mind? Let’s Talk Gresham’s Law in Crypto!
Big Brother ‘Crypto Tax’ Edition: Comply or Cry?
Today’s edition is sponsored by The Crypto Code, a leading research and education company that empowers individuals worldwide with the knowledge and tools to generate consistent profits in the crypto market through automation.
XRP’s Wild Ride on a BlackRock Rollercoaster: Here’s the 411!
It was a head-turner of a day for XRP thanks to a rumor about a big move from BlackRock. The XRP community was all abuzz when whispers hit the Twitterverse about an “iShares XRP Trust” filing that suggested BlackRock was about to give XRP its own exchange-traded fund (ETF) glow-up. 
Prices Skyrocket and Plummet: What happened next was straight out of a Wall Street flick — XRP’s price blasted off to a dazzling $0.73 from $0.66, marking a 12% surge within just half an hour!
But as nature’s rule, what goes up must come down, and down it went. As quick as you can say “cryptocurrency,” the gains vanished into thin air. Turns out, the filing was about as real as a unicorn. 
The Plot Twist: Cue Bloomberg’s ETF whiz, Eric Balchunas, who did some super-sleuthing and busted the filing as a fake. Turns out, someone had impersonated a BlackRock bigwig and added a touch of ‘make-believe’ to the Delaware corporations list.
And There’s More: Just when you thought BlackRock was all about Bitcoin, they dropped hints of setting their sights on Ether. This is legit, folks — BlackRock made a legal move with a 19b-4 submission for a spot Ether ETF that Nasdaq sent over to the SEC.
So, while we dodge the fakes, rest assured that BlackRock’s Ether ETF plans are very real. This might just be the beginning of their crypto-trailblazing journey beyond Bitcoin!
Robert Kiyosaki Serves Up a Financial Wake-Up Call: BTC and Gold Are Your Armor!
What’s cookin’, good lookin’? We’ve got some sizzling insights from the one and only finance guru, Robert Kiyosaki — yep, the mastermind behind “Rich Dad Poor Dad.” With his crystal ball 
in hand, Kiyosaki’s latest dispatch from the Twitter trenches to his 2.4 million disciples is all about that shiny good stuff: Bitcoin and gold.
A Dash of Doom & Gloom: Kiyosaki is sounding the alarms. 
He’s preaching that governments are practically throwing us a “we don’t care about y’all” party. His solution? Arm yourself with hard assets that pack a punch like gold, silver, and our digital darling, Bitcoin.
Stacking Coins Like Pancakes: Our finance prophet is on a buying spree. And he’s not shy about urging us to follow suit. Why? He’s convinced that our head honchos are too busy playing war games and sowing poverty seeds to mind the store. 
Central Banks on a Gold Diet: Get this: central banks are gulping down gold, and nope, it’s not to doll up their dull fiat bills. Kiyosaki slams it down — they’re shielding themselves from the mess they’ve made. He’s basically saying these bigwigs are donning gold-plated lifesavers while the rest of us are left to doggy paddle. 
A Tax-Free Fiesta: If you’re wondering why the rich have allergic reactions to cash, Kiyosaki’s got the tea. Turns out, they’re all about those tax-averse assets — stuff that won’t wither away under the taxman’s glare or the inflation monster’s drool. 
The Reality Check: Jobs? Steady paychecks? That’s old school, folks. The wealthy are playing a different game, chasing assets that rain tax-free dollars right into their pockets. Think rentals, oil wells, and farms. Meanwhile, the everyday Janes and Joes are stuck in the cycle of earn-tax-save-crash with their “fake money.” And those market investments? A rollercoaster that’s less ‘thrill ride’ and more ‘please let me off.’
So, what’s the takeaway from our dear Robert’s latest wisdom drop? Buckle up and diversify with Bitcoin, gold, and silver — your financial life preservers for these choppy market seas.
Got Money on Your Mind? Let’s Talk Gresham’s Law in Crypto!
You might’ve heard whispers of “Gresham’s law” floating around and thought, “What in the blockchain does THAT mean?” Well, strap in, and let’s decode this like it’s a top-secret ledger! 
Picture this: You’ve got a shiny Bitcoin in one digital pocket and a few worn dollar bills in the other. Which do you spend for that morning cup of tea? Chances are, you’ll hand over the dollars faster than you can say “double espresso.” 
Here’s the scoop according to Gresham’s old-school but still kickin’ axiom: “bad money drives out good.”
Not Your Average Law: Gresham’s law boils down to how we treat our treasure. We’re all pirates hoarding our shiny gold (aka, Bitcoin and gold) and readily spending our less shiny loot (sorry, dollar bills). 
Cashing in on Crypto: With cryptos swirling in the cyber sea, Gresham’s law is more like live action than ever. Those who dip their toes in the crypto waters tend to splash around with the volatile ones (looking at you, altcoins) for trading thrills, all while clinging to their Bitcoins like a life raft in a digital storm. 
Bitcoin Holds Its Ground: Bitcoin, the OG of crypto, is playing the part of the “good money” — we’re talking a star-studded cast of scarcity and street cred— which makes it the digital gold in this modern-day treasure chest. But enter stage right, and you’ve got currencies so stable, they’ll put you to sleep… Zzz, we mean, stablecoins! They’re basically the chillaxers in the volatile virtual finance fiesta. 
Dollars vs. Digits: Here’s where it gets spicy: Consider the showdown between your familiar greenbacks and the wild world of cryptocurrency. Sure, cryptos are cool to stash (and knock on wood for that price to rocket to the moon 
), but when it’s time to pay the piper, we reach for those crinkled cashola because it’s what we know and love.
But Wait, There’s a Catch: The rules bend when legal eagles come out to play. Suddenly, where you are on this spinning globe could skew towards fiat because, well, rules are rules, and you don’t want to ruffle feathers (lookin’ at you, China)! 
Big Brother ‘Crypto Tax’ Edition: Comply or Cry?
Here’s the Deal: The IRS is hovering over a shiny new set of rules – the 6045 digital asset broker regulations – and let’s just say, our blood pressures are rising. These rules, which are causing quite a stir during their comment period, might just make doing crypto taxes feel like solving a Rubik’s cube blindfolded.
Cost Basis Quagmire: Brokers might soon have to fill out a Form 1099-DA (that’s DA for ‘digital assets,’ by the way) which means reporting both proceeds and how much those assets originally cost ya. You get two choices of cost basis – FIFO (First In, First Out) or specific identification (choose your own crypto adventure), but spoiler alert: each is a can of worms.
The Specific Identification Tango: This one’s about as smooth as sandpaper. If you wanna get specific, you’ve got to mark your crypto choices BEFORE you sell, not after. 
It’s like picking which candy bar you’re going to eat from a mystery grab bag… before you open the bag.
Notification Mission Impossible: Here’s a twist: centralized exchanges like Coinbase and Kraken aren’t set up to handle these specific trade requests. If you want to tell your exchange to sell certain coins, good luck – there’s no red phone for that.
If you can’t jump through the specific identification hoops, you default to FIFO. That could mean facing a tax bill so large it looks like a telephone number. 
To stay sane, we lean on crypto tax software. But if the taxman expects us to track our trade intentions without it, things get messier than a toddler with spaghetti.
Tax Bill Terror: Failing to stick the specific identification landing means more than a slap on the wrist. It’s like landing on ‘income tax’ in Monopoly, but there’s no ‘Get Out of Jail Free’ card.
The days of one-and-done tax calculations are over. If you’ve got a pile of exchanges and wallets, prepare to channel your inner accountant and start crunching numbers like it’s going out of style. Your tax prep fee? Yeah, that might need its own line in the budget. 
Calling for a Lifeline: The community is screaming into the void, begging for a “proceeds only” reporting method. Will the IRS listen? That’s the billion-dollar question.
CoinWestern Quixplaned🏆
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Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. Mondays, read our All-In-One crypto newsletter. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
