EddieJayonCrypto
6 Dec 22
• Thank you to Morgan and John for being a couple of my earliest subscriber who keep me on my toes• According to CNBC, Jim Cramer says sell your crypto; could he be telling us exactly what not to do; remember that Inverse Cramer ETF I told you about in October• Citing US regulation that is too hard ...
• Thank you to Morgan and John for being a couple of my earliest subscriber who keep me on my toes• According to CNBC, Jim Cramer says sell your crypto; could he be telling us exactly what not to do; remember that Inverse Cramer ETF I told you about in October• Citing US regulation that is too hard to satisfy Nexo is pulling out of the United States This should be sounding an alarm• New York is looking to charge the crypto industry to regulate it, unfortunately, I do not think this means things will get easier in the state• Goldman Sachs positioning itself to snatch up tens of millions in crypto investments on the cheap• Malta, the United Kingdom, South Korea and Malta are each looking to either clarify or strengthen their approach to cryptoCramer suffers from foot in mouth disease, but may be telling us what not to do. Here is what is on my mind today.1. A quick shout out to Morgan and John, a couple of subscribers that help to keep me on my toes. Thanks, guys! 2. We are going to lead with Jim Cramer spewing more crap about crypto. You know how I feel about him if you watch my videos from August 31st where I first told you my thoughts on the young man and October 6th when I told you about Tuttle Capital's Inverse Cramer ETF. He has done it again telling everyone to sell their crypto. I will be doing the exact opposite. Thanks, Jim! 3. After being the darling of the discords, meme stock GameStop is cutting more staff, including crypto wallet engineers. I was trying to figure out why they were trying to create at all and not we can see them reversing on the idea. The stock had gone up tremendously during it meme heyday, but has since given back some of that gain. Looking at their stock, I just think they have poor management. I am not expecting their next earnings report to be good at all. I need to do a little research on their NFT marketplace. I am not sure how it is doing. One would think with this news, not so well. 4. The United States has proven to be too hard to work with regulators. This is what has led Nexo to pull out. This gives me cause for concern as the United States could be seeing this as only the first crypto company to leave the country. Regulations around crypto lenders is where I need to dig in a bit. 5. NY is looking to further regulate the crypto market and probably chase other companies out of the state. Bitfinex and Tether were fined in 2021, can't do business in the state and must still submit to regular checks. NY wants to charge the industry for regulating it. I am not mad about that since they do it for other industries, but I would expect the state to make it easier to do business here. Somehow, I just don't see that happening. 6. While people wonder if Caroline Ellison is going to flip on Sam Bankman-Fried, I am looking at Goldman Sachs positioning itself to snatch up tens of millions in crypto investments on the cheap following the catastrophic events at FTX. Are you seeing what I am seeing? I am seeing a very slick strategy unfold as expected. A burgeoning industry overinflates, then the bubble bursts and established businesses with cash on hand swoop in to pick up the very valuable pieces at a steep discount. 7. In global regulatory events, Malta, the United Kingdom, South Korea and Malta are each looking to either clarify or strengthen their approach to crypto. I pay attention to crypto regulation around the world because it helps to paint a picture around adoption and investment.