EddieJayonCrypto
7 Sep 22
• Macro events crush the Cryptoverse• India is looking to ban non-custodial wallets and transactions• Blockchain Australia lands a whale for CEOThe stock market and Cryptoverse both took major dives yesterday. Here is what is on my mind today.1. Clearly, there are a few factors that has led to the d...
• Macro events crush the Cryptoverse• India is looking to ban non-custodial wallets and transactions• Blockchain Australia lands a whale for CEOThe stock market and Cryptoverse both took major dives yesterday. Here is what is on my mind today.1. Clearly, there are a few factors that has led to the decline in the markets. The first is a major macro event that should have been on your radar since it has not gone away. That would be the war on Ukraine. After several disruptions Russia finally stated they are cutting Europe off from its natural gas. Clearly an effort to get the EU to not continue with the sanctions. This is putting tremendous pressure on Europe and the UK. 2. Then you had the court ordered liquidation announcement from Three Arrows Capital. I had also mentioned the 400BTC being liquidated by Poolin, too. All of these factors weighed in. 3. I keep saying India is squeezing too tight. Well in another move, India is prepared to ban wallet-to-wallet or non-custodial transactions. What are they awaiting for? They want it a global recommendation coming from the Financial Stability Board of the G20. 4. In a bold move, Blockchain Australia has tapped Laura Mercurio as its new CEO. This is a big deal considering Ms. Mercurio is a former Director at BlackRock. Previous to that she has held prominent positions at Merrill Lynch and Deutsche Bank. Not to mention she has held various positions, including government & regulatory bodies. I found this very interesting since someone with such direct experience in traditional finance and blockchain is going to have some serious ideas on how to move forward. 5. Brazilians spent almost $1B on crypto in May. This is important and tells you why FTX, Binance and others have their eyes on the burgeoning market.