EddieJayonCrypto
22 Dec 22
• The SEC is does not treat all situations equally when you see them finally call FTT a security• Twitter has a new feature to show the highest flying stocks, ETFs and cryptos; is music next?• The EU continues with payment-for-orderflow (PFOF) practices that does not have the customer in mind• Visa ...
• The SEC is does not treat all situations equally when you see them finally call FTT a security• Twitter has a new feature to show the highest flying stocks, ETFs and cryptos; is music next?• The EU continues with payment-for-orderflow (PFOF) practices that does not have the customer in mind• Visa is getting in bed with everybody announcing a new deal with Huobi for a new crypto-to-fiat card• California issued a cease order for most of the lending services offered by crypto lender, MyConstant• Gemini may be close to a path for recovering assets lost due to the Genesis liquidity emergency• Kraken matures and announces new pro trader platform• Republic of the Marshall Islands has introduced a bill that would create a new DAO registryHave you noticed how fast the SEC reacted to the FTX debacle? Here is what is on my mind today.1. SEC has classified FTT as a security. Uh, am I the only one thinking they are a tad late to the game? They were quick to point at Ki Kardashian and others for getting paid as brand ambassadors, but moved at a snail's pace to call FTT a security. Is that because of the relationship between Gary Gensler and SBF? 2. What is going on at Twitter? They have a new features that will show prices for major stocks, cryptos and ETFs along with links to Robinhood. This is interesting since it looks like Twitter is trying to manufacture some relevance for itself with some sticky content. Are they going to show tour dates for major music artists next? 3. While the EU tries to have a heavy hand on the crypto industry, including exchanges, they avoid banning payment-for-orderflow (PFOF) trades. This is how brokers can make extra money by routing transaction to a specific market makers. This practice is not new and demonstrates how brokers do not have to have their customers' best interests in mind. 4. Wow! Visa is getting in bed with everybody announcing a new deal with Huobi for a new crypto-to-fiat card. I am noticing how the rollout is the same for all of the exchanges issuing new cards. Rebates on trading fees, cashback earnings, etc. Again, as crypto adoption grows there is no need for any 3rd-party involvement. Don't fall for the rope-a-dope. This is simply building a new face for an old game. Which is to find ways to make you dependent on credit instead of living by cash as much as possible. 5. California issued a cease order for most of the lending services offered by crypto lender, MyConstant. This is because the Department of Financial Protection and Innovation (DFPI) says MyConstant is not properly licensed to provide those services. Come on people! Who even invested in this company? How did this company get so far without being properly licensed? Where are the SEC?! 6. Gemini is not playing games! They have been working hard to try and make things right for their customers involved in their EARN services that were supplied by Genesis. Who we now know has liquidity problems. Investment bank Houlihan Lokey has submitted a plan for the recovery of assets. 7. Kraken launches its pro trading platform. This is very good news because it demonstrates the company is focused on paving a path to the future. Launching a like this is a clear sign of maturity for the company. I like where this is going. 8. In case you weren't looking, the Republic of the Marshall Islands has introduced a bill that would create a new DAO registry. Decentralized Autonomous Organization Act of 2022 will allow DAOs to register under the internationally recognized LLC structure. While the world goes nuts over crypto, I think the industry may have just found a new place to call home.