EddieJayonCrypto
29 Dec 22
• The big news is all about the DOJ's recognition of coins at Mango Markets as commodities• The SEC's case against Ripple could have taken a huge hit from the DOJ; SEC looking to go after exchanges next?• Michael Saylor actually sold some Bitcoin and is looking to offer some Lightning services• If y...
• The big news is all about the DOJ's recognition of coins at Mango Markets as commodities• The SEC's case against Ripple could have taken a huge hit from the DOJ; SEC looking to go after exchanges next?• Michael Saylor actually sold some Bitcoin and is looking to offer some Lightning services• If you are into crypto or getting deeper, you may want to consider the foundation being laid for adoptionPeople expect nothing to happen in the week between Christmas and New Year's, but this is almost never the case. Here is what is on my mind today.1. Let's take a deeper dive into what could happen in the SEC's case against Ripple in light of the DOJ calling MNGO and other coins on Mango Markets commodities. Take a deeper look into what the court filings say. The charges brought against Avraham Eisenberg are all around commodities manipulation. Not a single charge involves any regulation falling under the thumb of the SEC. Couple that the news I gave you a few days ago about how the CFTC called several altcoins also in court filings, commodities. That included Bitcoin, Ethereum, Tether and others. All of this could severely hamper the SEC's case against Ripple. 2. If you are paying attention to that case, you may begin to think the case was meant to only be the first to cripple the crypto industry. If you ask Ripple's attorney in the case, he is of the believe the next case will be against an exchange and I tend to agree. That said, I think Gary Gensler is truly on a mission to cause as much damage as possible. Given his relationship, and those of some of his subordinates with SBF, the SEC was trying to help position FTX as leader in the United States. Now that SBF has fallen, the reason may have changed but the goal remains the same. Going after an exchange can further hurt the industry, but remember, the industry is moving toward decentralized exchanges and that is someplace the SEC would be hard pressed to regulate or inflict any long-lasting pain. 3. I made mention of this yesterday, but people may not have been paying enough attention. The guy who said he would never sell Bitcoin SOLD BITCOIN! That's right Michael Saylor sold 704 BTC and no one lost their mind. That said, his devotion and confidence in the technology has not waivered. MicroStrategy plans to release new software powered by Bitcoin Lightning Network next year. They are looking at services surrounding online content, such as paywalls along with internal corporate controls. Michael Saylor said Chief Marketing Officers would be able to incentivize customers with satoshis for things like posting reviews. A satoshis, for those that are learning, is the smallest unit of Bitcoin (0.00000001 BTC). 4. If you are looking to get into crypto or even just looking to get deeper into crypto, I think the time has come for you to start strongly considering the foundation that continues to be built for the adoption and realistic use of crypto. With that you must also consider the obstacles and then figure out what your play is. There are many opportunities to grow your bag, but you must do your own research to get to your answer.