EddieJayonCrypto
9 Sep 22
• FTX take a 30% stake in Skybridge Capital• Polygon looking to add 200 new members by 2023• More people are joining the lawsuit against Elon Musk alleging a Ponzi scheme• UK doubles down on its love of crypto• Fidelity Investments to launch Bitcoin retail trading platform in November• Gary Gensler ...
• FTX take a 30% stake in Skybridge Capital• Polygon looking to add 200 new members by 2023• More people are joining the lawsuit against Elon Musk alleging a Ponzi scheme• UK doubles down on its love of crypto• Fidelity Investments to launch Bitcoin retail trading platform in November• Gary Gensler says it's OK for CFTC to oversee Bitcoin, but that's it• Axie infinity enlists Google to operate a validator on their Ronin network to increase securityI am preparing myself. What steps are you taking to prepare yourself? Here is what is on my mind today.1. FTX makes a big move by taking a 30% stake in Skybridge Capital. Don't know the name? It is owned by Anthony Scaramucci. Remember him? He was the press Secretary for President #45 for like 10 days. He laid low for a while then started slowly coming back into public view. He is a Wall Street guy that was talking a lot about cryptos. I kept asking myself why. Well, now we know why. We can also see the continued traditional finance moves by Sam Bankman-Fried and FTX. Smart. 2. I have been saying for a while that Polygon is making moves. You know more is coming since they are looking to hire 200 more members by 2023. I told you the biggest downfall of the dotcom era was management teams that grew too quickly and had ridiculous burn rates. Clearly, Polygon's team was paying attention to those failures and controlled growth and is poised to grow some more, but based on realistic goals. This also tells me there is going to be more news in the near future. 3. Remember that lawsuit against Elon Musk for an alleged Ponzi scheme involving DOGE? Well more people are joining that lawsuit. For a while he had been playing loosely with making statements about memecoin that would have a pump effect on the value of the coin. Of course, that wound up being causing massive upward swings. However, it also led to massive drops, too. I am having fun watching this play out since I always thought he was playing games. 4. We are going to see some major movement in UK where the Cryptoverse is concerned. The new UK government seems to be doubling down on their support for the space and is planning on embracing it even more. In another little note, I just read the most popular coin in the UK is Not what you think. It is Shiba Inu! WHAT??? I know, right?! Supposedly, it is also the most popular in 7 European countries. As for the rest of Europe, the top 5 coins are more in line with what you would expect: Bitcoin, Ethereum, Shiba Inu, Cardano, then Dogecoin. That ought to tell you a lot about investment trends. 5. Fidelity Investments is at it again. Come November they will be launching their Bitcoin retail trading platform. This is in addition to their addition of Bitcoin to their retirement options. Like I keep saying, I am going to continue paying attention to what traditional finance does to get deeper into the Cryptoverse. 6. Gary Gensler and his SEC are playing more games. He has gone on record stating it is OK for the CFTC to oversee Bitcoin. Think about the statement. It is as if he is some exalted ruler and is allowing one of his serfs a crumb. He needs to be fired so bad. I think a lot of people don't care if the SEC or the CFTC ruled over the crypto space. People are screaming now because Gensler is such a poor commissioner. If it wasn't for that, people wouldn't have a such a diehard opinion about which agency was overseeing the space. 7. Axie Infinity, you know them from the Ronin hack, has just gotten Google to agree to run a validator on their Ronin sidechain. This is a big deal for the Ethereum-based network because of how they were hacked. What I like about this is they are signaling to the world they took that misstep seriously and are making big moves to stop it from happening again.