EddieJayonCrypto
22 May 23
Looking forward to the debt ceiling being solved and the Fed pausing on rate hikes. Here is what is on my mind today.1. Right now, all eyes are on the debt ceiling. You know. The ability to pay the bills we already agreed to. I firmly believe once that goes away, we will see an uptick in market valu...
Looking forward to the debt ceiling being solved and the Fed pausing on rate hikes. Here is what is on my mind today.1. Right now, all eyes are on the debt ceiling. You know. The ability to pay the bills we already agreed to. I firmly believe once that goes away, we will see an uptick in market value. I think both the stock market and crypto market will see an ice pop up. Then we will hold steady until the next FOMC meeting. President Biden call out "wealthy tax cheats and crypto traders" during a G7 speech. I think he has 2 things conflated. Frankly, I don't think he is up on crypto and someone got to his ear. 2. I think during the next FOMC meeting they will pause to see what the overall effect is on the economy from everything that has gone on. The numbers rolling in now seem to be inline or at a level that points to good reason to pause interest rate hikes. Even Minneapolis Fed President, Neel Kashkari says he is open to a pause. He just doesn't want any language that any pause would be for an extended period of time. 3. Are you still scratching your head about the Ledger debacle? You shouldn't be. There is no way you should be relying on a single wallet to handle everything for you. From what I see, not all wallets handle all coins or connect to all exchanges, or afford you transaction abilities in the same way. I am currently using browser and mobile wallets. Do your own research and get a handle of what wallets will work for you and how you invest. It is just like knowing what stock trading platforms to leverage. No, I do not rely on only one. 4. Ripple attorney, John Deaton has come across an email that hints the SEC knew XRP did not fully meet the definition of a security. If this email proves true, this could definitely be yet another loaded gun against the SEC. Everything about how the SEC has handled their job has been sloppy in this case and it could prove to have profound and far-reaching effects on not just the crypto market. People are getting tired of the government playing unfairly and using weaponizing certain powers against the public. 5. MetaMask owner, ConsenSys, had to clarify things around the FUD about MetaMask withholding crypto for taxes. They came out and clearly stated that is not something they do nor would do. Saying that legal terminology can be complex, they were quick to say the FUD being spread is woefully inaccurate. I think someone saw Leger woes and thought it would be a good idea to make people look someplace else. 6. It looks like Genesis has missed a $630M payment to Gemini. This saga continues and Digital Currency Group (DCG)is stuck in the middle of it. There is also a lingering threat of a lawsuit against Barry Silbert, CEO DCG over the repayment of a $900M loan. Believe me, accusation are swirling and this battle is not going away any time soon. Negotiations are ongoing, but the SEC is involved and I am not seeing an easy way to agreement. I think DCG may wind up giving up additional assets to address the debts.