EddieJayonCrypto
18 Oct 22
• Finally beating Amazon to the punch, Walmart says they are working to allow customers to pay with Bitcoin• People should be paying attention to just how dire things are at Credit Suisse and Deutsche Bank• Expectedly, SEC shoots down WisdomTree's application for a spot Bitcoin ETF• Texas is investi...
• Finally beating Amazon to the punch, Walmart says they are working to allow customers to pay with Bitcoin• People should be paying attention to just how dire things are at Credit Suisse and Deutsche Bank• Expectedly, SEC shoots down WisdomTree's application for a spot Bitcoin ETF• Texas is investigating FTX US for possible securities violations and that could hamper the deal with Voyager Digital• Paxos partners with Mastercard to provide crypto services to banksA big move in retail that will definitely bring more upside. Here is what is on my mind today.1. We all know Walmart has been going toe-to-toe with Amazon for some time, and losing the battle. What they are doing now may change that. Walmart has announced you will soon be able to pay with Bitcoin, says their CTO, Suresh Kumar. This is on the heels of a deal with Roblox announced only last month. 2. I am not sure people are paying enough attention to what is going on at Credit Suisse and Deutsche Bank. Credit Suisse is trying to quickly increase liquidity by selling off assets. Of course, they are also looking to streamline their operations. For those not in the know, that means they are looking into massive layoffs to the tune of 6K people. Just recently I mentioned how Goldman Sachs will be shedding some staff soon, too. Meanwhile, Deutsche Bank is seeing its stock plummet while also be sued for discriminatory redundancy practices. More to come from the world of finance for sure. 3. The SEC says no to WisdomTree's request for a Bitcoin Spot ETF citing the digital asset industry is prone to market manipulation. I am giggling given how much goes on with stocks. When this all comes to a head I think one of the biggest points will be how long it takes the SEC to say no to all of the spot ETFs. WisdomTree filed back in January. Gary Gensler has already been taken to task by Sen. John Hickenlooper and he is not the only one putting feet to flame. Then there is internal turmoil around NFT laws and how the SEC has not been making people aware of applicable laws, alleged by SEC Commissioner Hester Peirce. I am pretty sure this strife applies to the recent actions against Kim Kardashian, too. 4. Back in August I told you have Paxos is in a deal to bring crypto services to Brazil's PicPay users. Well, now they are working with Mastercard to bring crypto services to US banks. People are making it sound like a Mastercard deal but Paxos is the real story. People may not know the exchange is already providing similar services to PayPal who entered the game back in June. 5. The hardline state of Texas is now investigating FTX US over allegations of securities violations. This could impact the sale of Voyager assets to FTX US' parent company FTX. This is one of the reasons why people are screaming for federal regulation for the space. Because there is no overarching framework and states like Texas and New York can take a very hard line against the industry. Pretty sure that will prove to be a mistake for states like those. Meanwhile, even the EU is asking the US to step up and help to create a more global framework. The latest pressure from the EU came from the EU financial services chief who visited with Capitol Hill politicians to discuss efforts.