EddieJayonCrypto
8 Nov 22
• The war between CZ and Sam Bankman-Fried is taking up all the oxygen and stunting crypto growth• Polygon pops on a major collaboration with deltaDAO and the Gaia-X Web3 Ecosystem• SEC beats LBRY in a small win but faces a far stronger defense from Ripple• Mastercard's CEO, Michael Miebach thinks m...
• The war between CZ and Sam Bankman-Fried is taking up all the oxygen and stunting crypto growth• Polygon pops on a major collaboration with deltaDAO and the Gaia-X Web3 Ecosystem• SEC beats LBRY in a small win but faces a far stronger defense from Ripple• Mastercard's CEO, Michael Miebach thinks mass crypto adoption will happen when there are comprehensive rules; I somewhat disagreeThere is a lot going on, but what is overshadowing the market is the very public fight between 2 rich people that are so wrapped up in themselves that they cannot see what they are doing to the Cryptoverse. Here is what is on my mind today.1. Let's get it straight. The now incredibly public war between CZ and Sam Bankman-Fried is making cryptos drop like rocks. The battle is having an adverse effect across even projects that have news that would otherwise drive them up. By far, the biggest loser is Solana since they had to get propped up by SBF back just about every time they took a hit because of network outages. FTX is scrambling to cover everything stemming from the run on the bank that is still continuing. 2. Polygon had some really good news and was looking to really pop up. deltaDAO, a data economy solutions company, launched their new Gaia-X Web3 Ecosystem network upgrade on the Polygon Supernet. This was a major collaborative effort and enters blockchain into the European data economy. There are over 2K participants from over 350 institutions. I am expecting more news to stem from this as the effort grows in use and revenue. 3. The SEC got a victory against LBRY and it could have an effect on the Cryptoverse. The SEC took them to court saying they received over $11M from selling unregistered securities. This was in specific reference to their LBC token. The case is similar to the one against Ripple. The consensus is LBRY lost because they do not have the money to fight the SEC like Ripple does. Still the real war is the SEC v Ripple case. 4. Mastercard's CEO, Michael Miebach, believes once there are comprehensive rules on the burgeoning industry that is when mass adoption will occur. Unfortunately, he also thinks we have a long way to go. I partially agree, but I also think the public can push the government to do their job. There is just too large of a growing interest in crypto for the government to continue on their current course of regulation through enforcement.GO VOTE!!!