Invest ideasNews
6 Mar 2026, 15:30
Vancouver Mayor’s Bitcoin Reserve Dream Hits Legal Wall
Vancouver city staff have recommended that councillors drop Mayor Ken Sim’s Bitcoin motion, which ordered work on accepting payments in BTC and exploring a Bitcoin reserve for part of the city’s funds. Bitcoin: “Not An Allowable Investment Asset” In a report released on March 2 reviewing outstanding council directions , the Vancouver staff has deemed Bitcoin as a “not an allowable investment asset for the City”, suggesting that the Mayor Sim’s motion to turn Vancouver into a “Bitcoin friendly city” should be concluded. The report also asks council to de-prioritize some of the 78 motions passed since 2019 part of a broader clean‑up of outstanding directions. The rationale for this, as stated by the report, is a “reprioritization of staff and resources” and the need for “coordinating and aligning work with related initiative(s)”: the goal is to reduce the city’s spending by optimizing internal capacity. City staff back these conclusions with the Vancouver Charter, the provincial law that sets out how municipal funds can be invested. Inside The Vancouver Charter The B.C. Ministry of Municipal Affairs has clarified that the Community Charter and the Vancouver Charter “don’t recognize cryptocurrency as payment for municipal services or other transactions,” so cities shouldn’t treat BTC like normal money on their balance sheets. The ministry has also stated that local governments “are not permitted to hold financial reserves in cryptocurrency” because crypto is not on the listed of permitted investment vehicles laid out in the provincial legislation. Under section 183 of the Community Charter, which the province applies to local governments’ funds, eligible investments are cited as things like Municipal Finance Authority securities, pooled funds, federal or provincial bonds, guaranteed bank products and similar high‑grade instruments. There is simply no legal category that would cover Bitcoin or other volatile digital assets, which doesn’t mean that it’s prohibited: it simply doesn’t exist in the law. The Bitcoin Dream: A Bitcoin Friendly City Mayor Sim’s Bitcoin motion pushed through in December 2024. Sim, who’s an investor in a cryptocurrency exchange, said he believed investing in Bitcoin was “the financially responsible” thing to do amidst inflation and market volatility. He went so far as to pledge a personal 10,000‑dollar Bitcoin donation to seed a municipal reserve, publicly lauding BTC as one of the most important financial innovations of the era. It would be irresponsible for the City of Vancouver to not look at the merits of adding bitcoin to the city’s strategic assets to preserve the city’s financial stability. What’s Next? The staff was supposed to report back to council in the first quarter of 2025, but until the cited report, no other was made public. The Vancouver city staff recommendation will land at council on March 10. Mayor Sim will be forced to decide whether to burn political capital defending his BTC agenda or watch his Bitcoin dreams be shelved and dismissed by his own administration. Cover image from ChatGPT, BTCUSD chart from Tradingview
6 Mar 2026, 15:25
Binance rejects Senate claims it enabled $1.7B in Iran-linked crypto transfers
Binance pushed back against a Senate inquiry alleging $1.7B in Iran-linked crypto transfers, claims illicit activity declined by more than 97%.
6 Mar 2026, 15:05
Jake Claver Says Ripple (XRP) Has Gone from Underdog to Kingmaker. Here’s Why
The cryptocurrency industry has witnessed dramatic shifts over the past decade. Projects that once struggled for credibility now sit at the center of discussions about the future of global finance. As banks and financial institutions increasingly explore blockchain technology, some early innovators are beginning to transition from disruptive outsiders into influential players shaping the next phase of financial infrastructure. Crypto commentator Jake Claver recently emphasized this transformation in a post on X, arguing that Ripple and its associated digital asset XRP have experienced a major shift in status within the financial ecosystem. According to Claver, Ripple has evolved from a perceived underdog in the crypto industry into what he describes as a “kingmaker,” as financial institutions increasingly look to integrate blockchain technology into traditional systems. Ripple has gone from underdog to kingmaker. Now, banks get the best of both worlds: tradition and innovation in one package. Money speaks loudly, and it's silencing the critics. — Jake Claver, QFOP (@beyond_broke) March 5, 2026 Ripple’s Early Vision for Cross-Border Payments Ripple entered the blockchain industry with a specific goal: modernizing the global payments system . Traditional cross-border transfers often rely on legacy infrastructure that can take several days to settle while charging high transaction fees. Ripple designed its technology to address these inefficiencies. The XRP Ledger (XRPL), launched in 2012, enables transactions to settle within seconds and costs only a fraction of a cent per transfer. XRP can also function as a bridge asset that helps financial institutions move value between different currencies without the need for pre-funded accounts in multiple jurisdictions. This approach positions Ripple’s infrastructure as a potential solution for improving the efficiency of international payments. Why Financial Institutions Are Paying Attention Claver’s remarks reflect a broader trend across the financial sector. Rather than rejecting blockchain technology, many banks now explore ways to combine traditional financial systems with innovative digital infrastructure. Ripple’s enterprise-focused strategy aligns closely with this approach. Its solutions allow financial institutions and payment providers to integrate blockchain capabilities without completely replacing their existing systems. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 This hybrid model enables banks to maintain regulatory compliance and operational stability while benefiting from faster and more efficient settlement technologies. Regulatory Developments Strengthen Ripple’s Position Ripple’s growing influence also follows the conclusion of its long-running legal dispute with the U.S. Securities and Exchange Commission. The case officially ended in August 2025 after both Ripple and the SEC withdrew their appeals, closing years of litigation that had created uncertainty around XRP. The resolution removed a major legal overhang from the ecosystem. Many supporters believe the outcome strengthened Ripple’s credibility and opened new opportunities for institutional adoption. Meanwhile, development on the XRP Ledger continues to expand. T he network now supports tokenization , decentralized exchange features, and non-fungible tokens, while projects like the XRPL EVM Sidechain aim to bring Ethereum-compatible smart contracts to the ecosystem. From Challenger to Influencer Claver’s comments capture a growing sentiment within parts of the crypto community. Ripple no longer appears solely as a challenger to traditional finance. Instead, it increasingly operates alongside banks and financial institutions seeking to modernize their infrastructure. As blockchain adoption continues to expand across the financial sector, Ripple’s blend of enterprise partnerships and evolving technology may place it in a powerful position within the future global payments landscape. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Jake Claver Says Ripple (XRP) Has Gone from Underdog to Kingmaker. Here’s Why appeared first on Times Tabloid .
6 Mar 2026, 15:03
Farage Aide ‘Posh George’ Loses $550,000 in Failed Polymarket Iran Invasion Bet
George Cottrell, a key political aide to Nigel Farage, has lost approximately $550,000 on Polymarket after incorrectly betting against imminent US military action in Iran. Known in British political circles as “Posh George,” Cottrell’s high-conviction play on the decentralized prediction platform marks a stunning reversal of fortune following his reported multimillion-dollar windfall wagering on the 2024 US election. The loss underscores the extreme volatility inherent in geopolitical betting, where inside information and political conviction often clash with the chaotic reality of kinetic warfare. While prediction markets have been lauded for their accuracy in elections, this six-figure liquidation serves as a stark reminder that liquidity does not always equal foresight. Discover: The best crypto to buy now Who Is ‘Posh George’ Cottrell and Why Does This Bet Matter? George Cottrell is far from a typical retail trader. A former banker with an aristocratic lineage and a colorful legal history involving a stint in US federal prison for wire fraud, Cottrell has reinvented himself as a fixture in right-wing politics. Serving as a top aide to Reform UK leader Nigel Farage, he operates at the intersection of high finance and populist politics, a demographic that has increasingly embraced on-chain prediction protocols. Cottrell’s reputation in the crypto betting scene was cemented during the 2024 US election cycle. Reports indicate he won as much as $4.4 million betting on Donald Trump’s victory, leveraging his political insights into massive on-chain profits. However, his pivot to war markets proves that predicting voter behavior and military strikes requires vastly different risk models. The incident highlights how political figures are becoming active participants in prediction markets, moving the size that can skew odds and mislead retail followers. That wallet address belongs to George Cottrell in high confidence. He’s been an advisor to Nigel Farage (UK Politician), is known for high stakes gambling, and previously was found guilty for wire fraud. pic.twitter.com/Pak7KpqPbX — ZachXBT (@zachxbt) October 29, 2025 The $550,000 Wager: How the Polymarket Iran Invasion Bet Failed The losses centered on a specific I ran invasion bet market hosted on Polymarket, titled to track US military strikes within a set timeframe. Trading under the username GCottrell93, Cottrell took a heavy contrarian position, wagering that the US would not conduct strikes on specific dates in late February. According to Polymarket data , Cottrell initially saw success, netting $107,000 by correctly betting “No” on a February 27 strike. Emboldened by the win, he rolled his capital into a much larger position for the following day. He placed approximately $550,000 on “No” for February 28, effectively betting the geopolitical status quo would hold for another 24 hours. The market resolved against him when the US military confirmed strikes on Iranian-aligned targets on February 28. The prediction market contracts for “No” instantly collapsed to zero. Combined with smaller losses of $165,000 across other inaccurate date-specific wagers, Cottrell’s total drawdown for the week topped $655,000. Unlike traditional finance, where positions might be hedged or stopped out, binary prediction markets offer no exit once the event occurs; capital is either doubled or incinerated instantly. Geopolitical Betting Markets: High Stakes and Insider Risks The sheer size of Cottrell’s Iran wager on Polymarket reflects a broader explosion in prediction market volume. Platforms like Polymarket and Kalshi are no longer niche novelties; they are processing hundreds of millions in volume on outcomes ranging from interest rates to sovereign conflicts. For traders, these markets offer a way to hedge against macro instability, similar to how Bitcoin and stocks stabilize or react to global bond market risks. Nigel Farage's bestie George Cottrell, a colourful ex-con and gambler, has plowed $120k today into UK PM Keir Starmer resigning by Feb 28th. He spiked the price to 40c on Polymarket. I was on yes this month (at 16c), but dumped it today, and switched to No at 60c. We'll see! pic.twitter.com/cY0qlQL6xs — Domer (@Domahhhh) February 9, 2026 However, the sector is drawing intense scrutiny. Lawmakers are increasingly concerned about the gamification of war, where users speculate on casualty counts and invasion dates. The Telegraph reported that the “Ouster of Iranian Leaders” market alone saw over $529 million in volume, signaling that institutional capital is now treating regime change as a tradable asset class. For the crypto market, these betting flows are often leading indicators of volatility. When war market probabilities spike, crypto assets often react violently. Although with Bitcoin briefly $73k despite war chaos , there is a growing argument that the market had already priced in the possibility of war over the course of the extended downturn that began with last October’s market crash. Discover: The top crypto to diversify your portfolio with The post Farage Aide ‘Posh George’ Loses $550,000 in Failed Polymarket Iran Invasion Bet appeared first on Cryptonews .
6 Mar 2026, 15:01
Binance tells Senate probe no accounts sent crypto directly to Iran
Crypto exchange pushed back on $1.7 billion Iran-linked flow allegations and called media reports behind the probe “defamatory.”
6 Mar 2026, 14:11
Vancouver Council Blocks Bitcoin Reserve Plans Over Strict Legal Barriers
Vancouver’s plan to add Bitcoin to city reserves was withdrawn due to explicit legal restrictions. Current laws only allow public funds to be invested in traditional, low-risk assets. Continue Reading: Vancouver Council Blocks Bitcoin Reserve Plans Over Strict Legal Barriers The post Vancouver Council Blocks Bitcoin Reserve Plans Over Strict Legal Barriers appeared first on COINTURK NEWS .
