EddieJayonCrypto
5 Oct 22
• OPEC and Russia cut oil production by 2B barrels a day• Fidelity announces new Ethereum index fund• Coinbase agrees the CFTC would be better crypto watchdog• Musk buying Twitter would still send DOGE rising• Former SEC Chairman Jay Clayton agrees with me that stablecoins should be the first place ...
• OPEC and Russia cut oil production by 2B barrels a day• Fidelity announces new Ethereum index fund• Coinbase agrees the CFTC would be better crypto watchdog• Musk buying Twitter would still send DOGE rising• Former SEC Chairman Jay Clayton agrees with me that stablecoins should be the first place for regulation• 1Inch is partners with Unstoppable Domains to implement NFT digital identities as a part of their transaction processTaiwan and Ukraine are more important that you realize. Taiwan has the chips and Ukraine has the lithium. Here is what is on my mind toady.1. Well, OPEC and Russia have decided to cut oil production by 2M barrels a day. This is going to send prices skyrocketing. The other effect will be the stock marketing tanking like it has already started. Mind you China is about to open back up, too. They may help with supply chain issues, but will add further pressure to the energy market. At what point do we move to renewable energy sources and tell OPEC to pound sand? 2. Fidelity announces a $5M Ethereum index fund. This is big, No, it is not a lot of money, but it is big when you think about this move is a series of moves made by the financial giant. The first sale for this fund according to the documents filed yesterday was September 26th. There has been no official word, but this recent move says Fidelity is definitely pushing retail customers into crypto or at least making that path very easy for them. 3. Given Coinbase's issues it is not surprising their Head of US Policy, Kara Calvert, supports the CFTC getting jurisdiction over Bitcoin and Ethereum. There are currently 2 bills that would do just that. As hard as the SEC is fighting, I think they are going against a tide that has already determined the conclusion. 4. Unless you have been living under a rock, you must know if Musk actually buys Twitter, the DOGE community will go nuts. There are a lot of possibilities for the implementation of DOGE on Twitter that it is hard to enumerate in detail. Not to mention it would bring some stability to the platform. When this deal is done, I am going to sit back and watch DOGE experience what could wind up being a long-term rise. 5. Jay Clayton and I agree that crypto regulation should start with stablecoins. My thought is this could be an easy area to start with and would have an impact on how the country could move forward with a CBDC. The former SEC Chairman pointed to the report just released by the US Financial Stability Oversight Council that says crypto assets have the potential to negatively affect the traditional financial infrastructure. Perhaps, that is why you are see so many traditional institutions diving in head first. 6. 1Inch is partnering with Unstoppable Domains to make it easier for people that transact on the decentralized exchange aggregator protocol using NFT domains in lieu of complex addresses. This is exactly where everything is going. People do not want to have to fumble around with those complex addresses and instead want to transact with an easy digital identities. This could definitely be a competitor to Ethereum Name Service given the utility.