EddieJayonCrypto
3 May 23
The most important thing for today is going to be the FOMC conference and whether or not Powell is going to raise rates. Here is what is on my mind today.1. Today I am leading with the FOMC conference that happens at 2:30 PM today. Although I do not want it, I think we will, indeed, get a 25 basis p...
The most important thing for today is going to be the FOMC conference and whether or not Powell is going to raise rates. Here is what is on my mind today.1. Today I am leading with the FOMC conference that happens at 2:30 PM today. Although I do not want it, I think we will, indeed, get a 25 basis point hike. I don't want it because the data they use to make the decision is looking back. I think they should also be able to factor in current events. You had another bank failure along with several other banks drop precipitously over the past few days. PacWest is down 71% year-to-date, KeyCorp is down almost 45% in the same timeframe. I think the pause should start now. 2. Cathie Wood and her ARK Invest go deep again on COIN. I think a catalyst was that Coinbase is offering primary services offshore. They just introduced international perpetual crypto futures to institutional investors not based in the US. Over the past 2 days ARK Invest has snatched up about $15.5M in Coinbase shares. This is on the heels of CEO Brian Armstrong saying they are open to moving offshore. 3. I had been wondering when a crypto company with deep pockets would launch a show. Well, here comes CoinMarketCap, a Binance holding, with Killer Whales. Clearly the name is take on Shark Tank, as is the show. This is the second such show I have heard about as of late. Unfortunately, the other show I heard about is far behind as compared to this one. They just wrapped shooting a couple of weeks ago with judges like George Tun of CryptosRUs. Killer Whales, created by Hello Labs and award-winning Director and producer Paul Caslin. Even though Killer Whales is focused on Web3 projects I am disappointed that they couldn't at least switch up the format. 4. Europe seems to be on a bullet train headed toward a digital euro. With MiCA in place and weighing stablecoins, a European CBDC seems to be an a forgone conclusion. People are still worried about their privacy where CBDCs are concerned and I think voices will continue to rise in opposition. 5. Chegg, a homework help company, has fallen victim to ChatGPT and other AI services, resulting in a 15% decrease in their business. Chegg's CEO Dan Rosensweig acknowledged the accuracy of ChatGPT and announced their plans to create their own AI service. This incident highlights the potential of various technologies, such as Wonder Dynamics, to bring entertainment to Web3. With the increasing capabilities of AI, creating realistic deep fakes has become easier, and caution is advised. 6. Sports Illustrated launches their new NFT ticketing system on Polygon named Box Office. You may have heard that Ticketmaster launched their NFT-gated ticketing service back in March. I think the biggest difference is Box Office is a more end-to-end system rather than just a system that uses an NFT in the last leg of the transaction. Ticketmaster is the king of the space, but they are about to get some healthy and much needed competition.