EddieJayonCrypto
15 Nov 22
• Should Gary Gensler step down amidst this FTX debacle?• Brian Armstrong, CEO of Coinbase, should take a more focused and pragmatic approach• Institutional investors seem to be on a buying spree• Mastercard is not swayed• Solana Foundation's exposure to FTX seems as sloppy as Voyager's• The SEC v R...
• Should Gary Gensler step down amidst this FTX debacle?• Brian Armstrong, CEO of Coinbase, should take a more focused and pragmatic approach• Institutional investors seem to be on a buying spree• Mastercard is not swayed• Solana Foundation's exposure to FTX seems as sloppy as Voyager's• The SEC v Ripple case is ridiculously delayed and it is by SEC's designThe FTX debacle is ongoing, but has the spread slowed down enough for us to move on? Here is what is on my mind today.1. Should Gary Gensler step down amidst this FTX debacle? Whether he is proven to have done something wrong or not these are more than just bad optics for him and the SEC. I think I would be shocked if there is no investigation into what seems to be mounting accusations about his direct and indirect ties to FTX. 2. Now Brian Armstrong, Coinbase CEO, want so chime in with his thoughts on what Sam Bankman-Fried has done and warn us about more contagion. I think he would be better served to keep his commentary focused on his own exchange. If not, the blowback could start blowing his way. As for letting us all know that more contagion could be coming. I think we are all in the know on that one. He is not a bad guy. A more pragmatic approach may be best in this case. 3. Don't let the news fool you. Institutional investors are snatching up crypto like it's the best thing since sliced bread. With everything that is going on the institutions know there is blood in the streets. And when there's blood in the streets you should be buying. Even if it is your own blood, or at least that is how the saying goes. If you have done your own research and believe in the projects, now is most likely a buying opportunity since most coins are down for reasons not within their own control. I am looking at coins like MATIC that seem to be resilient. 4. Mastercard CEO, Michael Miebach, is optimistic and says they are investing. This is investment both inside and outside the Metaverse. It says a lot when the world's second largest payment process company is not swayed given current events in the Cryptoverse. 5. As if Solana Foundation needs more bad news. Apparently they have more exposure than I thought. Not only did FTX hold about one tenth of SOL, but they also hold 3.24M shares of FTX Trading LTD common stock. In addition to that, they also hold about 3.43M FTT tokens and about 134.5M SRM tokens. I hate to say it, but this seems to be yet another odd relationship between FTX and a project. 6. I thought the SEC V. Ripple was already a never-ending story. Looking at the number of Amici briefs being filed, it would seem the SEC's plan to continue delaying for as long as possible is working. At last count it is 16 briefs that have been given the OK by Judge Torres, with a new deadline as November 18th. Mind you, even after the FTX shenanigans XRP has been slowly and steadily rising with whales scooping up the most.