EddieJayonCrypto
2 Oct 22
• Is Credit Suisse headed down the drain like Lehman?• Solan suffers yet another outage proving they are not ready for mission critical tasks• Coinbase suffers an ACH transfer outage while battling that $350M lawsuit• The war between the CFTC and the SEC has hit a fever pitchThere is a lot going on ...
• Is Credit Suisse headed down the drain like Lehman?• Solan suffers yet another outage proving they are not ready for mission critical tasks• Coinbase suffers an ACH transfer outage while battling that $350M lawsuit• The war between the CFTC and the SEC has hit a fever pitchThere is a lot going on this week including jobs and manufacturing numbers this week. Here is what is on my mind for the week ahead.1. I think it is possible for Credit Suisse to go the way of Lehman and I am not the only one seeing that possibility. The hit would be pretty substantial given all of the banks work together. There would definitely be a ripple effect throughout global finance. I am not sure if it would be as impacting as Lehman, but it would have some sort of global impact. Being found guilty earlier this year, in June, in a money laundering case. That has led to them overhauling their risk management. They have a long way to go and it is not going to be an easy road. 2. Solana suffered yet another outage. Simply put, I would not trust that project with anything mission critical. That means if you are using NFTs for member access, I would not want that solution on Solana. My own hosting platform, Rebel Reach, is about to launch native crypto payments. We are working with a number of coins. Guess which is not one of them? If you guessed Solana, you are right! Unless they gave me a bag of money, I am not going to spend any to integrate that coin. 3. Coinbase had an ACH transfer outage. You already know I am not a fan of centralized exchanges and Coinbase being the largest in the Unites States is no exception. I do make some acquisitions there from time to time, but I am not leaving any significant amount of assets there. Completely and in and out process, for the most part, for me. 4. I am expecting more fireworks to happen between the SEC and the CFTC. The SEC needs to have their wings cut. Gensler and his henchman are far too comfortable with their regulation by enforcement tactics. The CFTC has done two things this week. The first was to take action against a DAO and its founders they believe have been breaking the rules. The second was the Chairman came out swinging against the SEC saying Ethereum is a commodity. The battlefield is set.