EddieJayonCrypto
12 Jan 23
• Cryptos skyrocket on CPI data, but other macro events can pull it all back down• The Genesis liquidity problem is more like $3B and things still aren't looking good• BREAKING NEWS: SEC sues Gemini and Genesis for selling unregistered securities in their EARN program• Binance stakes $35M in Shiba I...
• Cryptos skyrocket on CPI data, but other macro events can pull it all back down• The Genesis liquidity problem is more like $3B and things still aren't looking good• BREAKING NEWS: SEC sues Gemini and Genesis for selling unregistered securities in their EARN program• Binance stakes $35M in Shiba Inu and gets registered in Sweden• Cathie Wood's Ark Investments doubles down on Coinbase with another $3.3M investmentThere is a lot of crazy news today. Here is what is on my mind today.1. Cryptos take off today along with the stock market spurred by the inline CPI data of it falling by .1! This is good news, but I do not think this will be sustained. I know I sound like the bearer of bad tidings, but that is also a good thing. I say this because you need a few more things to shake out, like DCG/Genesis. Mind you around the world other countries are expecting a global recession. Even in the US the savings rate has fallen to an all-time low of 2.2%. This means people are deducting less from their paychecks to dedicate to savings. Don't forget we have a lot of earnings about to be announced and they are not looking good. I am looking at a Friday sell-off. 2. Speaking of, the real numbers behind the Genesis liquidity problem could be as high as $3B. To close the gap DCG is looking into selling some of its 200 crypto-related projects in its venture capital arm, spanning 35 countries and worth approximately $500M. BREAKING NEWS: SEC sues Gemini and Genesis for offering the EARN program without registering the securities. This is on tip of everything else in the DCG/Genesis debacle. As usual, the SEC comes at yet another firm AFTER THE FACT! 3. Binance is staking about $35M in Shiba Inu. This is kind of a big deal since it signals major support for the project that is on the brink of launching their layer-2 scaling protocol. This is another move in the right direction for the SHIB army. 4. Binance just registered in Sweden as it continues its global outreach campaign. I believe it holds the most licenses of any exchange in the world. Binance is capitalizing on the pullback of other exchanges. They are even planning on increasing their global workforce by 15-30%. 5. Cathie Wood's Ark Investments adds another $3.3M of Coinbase shares. This is the second time in less than a week they have invested in the crypto exchange. Like I have said before, Coinbase is moving toward creating more revenue streams to gird against the slowly dwindling need for centralized exchanges. All of this even though Brian Armstrong, CEO of Coinbase, is still running his mouth about FTX. You are smarter than that, bud. Like Robert Kiyosaki says, mind your own business.