EddieJayonCrypto
27 Apr 23
Whoa! Slow down! Someone screwed up and Bitcoin tanked. Here is what is on my mind today.1. Bitcoin tanked about 7% because some blockchain analytics company, Arkham, sent alerts to some of its users that wallets connected to Mt. Gox and the US government had moved massive amounts of Bitcoin. This s...
Whoa! Slow down! Someone screwed up and Bitcoin tanked. Here is what is on my mind today.1. Bitcoin tanked about 7% because some blockchain analytics company, Arkham, sent alerts to some of its users that wallets connected to Mt. Gox and the US government had moved massive amounts of Bitcoin. This should have been seen as fishy to begin with, but people took the news on face value and feared for a huge dump of the coin. Luckily Glassnode and others were able to debunk the news and we are seeing Bitcoin recover. 2. I keep telling you to pay attention to Cathie Wood's moves with ARK Invest. She just snatched up some more Coinbase stock. I bring this to your attention only because I was thinking exactly the same thing. With so much pushing back against the SEC, I think the future is very bright for crypto. If you are not into purchasing crypto directly, getting into crypto stocks is another way of being involved. 3. I tell people to keep an eye on Polygon. Well, some big news dropped that Franklin Templeton's fund launched on Polygon. This is not a small thing. With over $1.5 trillion in assets under management Franklin Templeton is a major player in the financial industry to say the least. 4. In still more news out of the Polygon team, their zkEVM bridge has gone live. This allows for withdrawals from Ethereum. The Polygon PoS bridge is now live following heir beta release last month. This adds to the scalability for dApps running on the Ethereum blockchain. I am expecting even more projects to move to Polygon given the speed, efficiency and low fee they provide. 5. Kraken is still in the running to get a Federal Reserve master account. They originally filed for it way back in October 2020, but have yet to receive an answer either way. Obtaining a master account is a very big deal. It is the same way traditional financial firms do business and settle transactions. This goes to show there is a lot more going on than you may think. News like this sheds light on what crypto companies are doing to really play with the big boys and truly disrupt how things are done. 6. I first started reporting on the Genesis debacle back in January. Well, the Genesis bankruptcy restructuring deal they had is no more. It is being reported that their creditors have walked away from the deal. Digital Currency Group (DCG) is saying a group of creditors have reneged on the deal and have even put forward more demands. I knew this was going to get messy and, in that case, they did not disappoint. 7. Circle creates a bridgeless bridge called a cross-chain transfer protocol (CCTP) available on their mainnet. The protocol allows for 1:1 transfers between Ethereum, Solana, Avalanche, Algorand, Stellar, Flow, Hedera and TRON. Further, service providers like MetaMask, Wormhole, Celer, Router and more have already integrated the new protocol.