EddieJayonCrypto
24 Apr 23
This is going to be an eventful week of earnings reports. Here is what is on my mind today.1. Microsoft, Alphabet, Amazon and Meta are all expected to report earnings this week. Another company that is reporting this week that is another major technology company is Verizon. They are still the larges...
This is going to be an eventful week of earnings reports. Here is what is on my mind today.1. Microsoft, Alphabet, Amazon and Meta are all expected to report earnings this week. Another company that is reporting this week that is another major technology company is Verizon. They are still the largest Internet security provider in the world. If I want to have a pulse on the US economy, I am going to pay attention to these and other companies all reporting this week. 2. Trust Wallet vulnerabilities leave older account susceptible to hack attacks. Although the team at rust Wallet has been able to implement a fix, apparently, they waited months to publicly acknowledge the existence of the vulnerability that focuses on wallets created using their browser extension, with account created between 11/13 and 11/23/2022. That is a small window with big impacts. 3. There has been a lot of talk about how China is on their way to dethroning the US Dollar as the world reserve currency. Although this could be true, I think it is a far cry from being realistic. I think the idea is really to wreak havoc on the global economy by painting the US Dollar as being undependable. The yuan would have a hard time being a global currency because they do not allow it to flow outside of the country. If that were the case, I think there would be a lot of wealthy people that would run. Just a thought 4. Indian Finance Minister Nirmala Sitharaman is advocating for a global consensus on crypto regulations. I find it interesting considering India's hard stance on crypto. I also wonder if she has been looking at the regulations that just passed in the European Union. Markets in Crypto-Assets (MiCA) could have very negative effects on the crypto industry. I would think that would be what India would be interested in implementing. 5. As part of a deal between Binance and ivendPay, customer will be able to pay using Shiba Inu at over 400 global merchants. This is major step toward adoption and specifically for Shiba Inu. ivendPay next target market is Portugal. I think as time moves forward we are going to see more of these kinds of deals that will take crypto from innovation to mainstream use. In more good news for the Shiba Inu army, CetoEx, a well-known exchange in Dubai, has set the date it intends to list BONE. As if we didn't realize this, Ex-SEC Chair John Reed Stark says we should expect more crypto lawsuits. Like I said, we all know it is going to get worse before it gets better. Gary Gensler and the SEC seem to be acutely focused on crushing the nascent industry in the United States. I still think this is the wrong course of action and there are those in Congress that feel the same way. So much so that they are introducing legislation to abolish the present role of Chairman and replace it with a Board. This would remove the ability for someone like the current SEC Chair to take such Draconian measures.