EddieJayonCrypto
2 Jun 23
There are some huge things in the news today and I expect markets to rise on what is normally a sell day. Here is what is on my mind today.1. The debt ceiling crisis has been averted with the Senate passing the bill 63 to 36. That's three more than necessary to pass the bill. It will be interesting ...
There are some huge things in the news today and I expect markets to rise on what is normally a sell day. Here is what is on my mind today.1. The debt ceiling crisis has been averted with the Senate passing the bill 63 to 36. That's three more than necessary to pass the bill. It will be interesting to see who is going to use their vote against the bill in their rhetoric. 2. It's official! China has opened the doors to crypto companies to register. As you might imagine, there are a lot of exchanges on that list. Now we have to see how fast China moves to approve those companies, then for those companies to open their doors. Once that happens, I expect the floodgates to open. Remember, registration going to come with China saying how they want things to work on mainland and in Hong Kong. This will be interesting. 3. I have been saying Ripple was eventually going to go public. I also said I would be all over it when it happens. This is a stock I am completely interested in. Ripple hosted what is known as a road show. This is a marketing event where a company meet with potential investors. The whole event or series of events creates interest and can help to increase how much investors are willing to give. More positive things are afoot as Uphold says XRP meets all legitimate criteria for exchange listing. Shots fired! 4. Silvergate Bank is done. The Federal Reserve has issued a consent order to Silvergate to wind down operations and liquidate. We all knew it was coming and Silvergate already has a plan act on. The things is a tad shady to me. I don't think Silvergate needed to be shut down. 5. In a big move, Deutsche Telekom has become a Polygon node validator. This is more than just a big deal. In case you are wondering who Deutsche Telekom is, they are the company behind T-Mobile and are a huge player in the European telecom space. I keep telling people that polygon is planning on big things. This is further proof that the future of Polygon looks bright. 6. Finally, someone is taking Elon Musk to court citing manipulation of the price of Dogecoin. It was bound to happen. I have been saying for a long time that if Dogecoin was a stock, he would have been brought up on charges already. Do you remember when he changed the Twitter logo to DOGE for a minute? Well, even that is being used as evidence. DOGE pumped 30% and in a coincidence, of course, Elon sold about $124M of DOGE. Uh, Where is the SEC with this one?