EddieJayonCrypto
25 Jul 22
• JP Morgan says Coinbase shareholders could wind up being diluted• The Cryptoverse is dep in the red leading up to what is expected to be a 75 basis point increase by the Fed• Moelis & Co. has created the new "Global Blockchain Group" to offer its services to blockchain companies to help them incre...
• JP Morgan says Coinbase shareholders could wind up being diluted• The Cryptoverse is dep in the red leading up to what is expected to be a 75 basis point increase by the Fed• Moelis & Co. has created the new "Global Blockchain Group" to offer its services to blockchain companies to help them increase crypto adoption• Fidelity may have the last laugh as fintech firms are expressingSo much is going on this evening. So I thought I would shoot an extra today. Here is what is on my mind this evening.1. JP Morgan says Coinbase shareholders could wind up being diluted. This is because Coinbase may have issues restricted stock units to employees, including the 18% they recently let go. Tech companies do this so they can pay less in salaries. If Coinbase is compelled to compensate employees by issuing additional shares, thusly diluting shareholder value. Both JP Morgan and Goldman Sachs have downgraded Coinbase to a sell. All of the bad press for Coinbase as of late casts a huge shadow and drowns out any kind of good news the company could possibly have. 2. Looking at the numbers, a lot of coins have already dropped in advance of the Fed's upcoming rate action which is expected to be 75 basis points. I call this out because this could be a good moment to buy on the dip. I was expecting profit-taking and other downward pressures to hit this week. This is why I said I would be looking to seriously buy this week during my Sunday Roundup. 3. Moelis & Co. has created the new "Global Blockchain Group" to offer its services to blockchain companies to help them increase crypto adoption. I am interested what blockchains would employ the new team, headed by Moelis & Co. co-founder, John Momtazee. I am really interested in what the compensation package would look like. This could be a very smart move by the firm. 4. A few weeks back I reported that Fidelity would be offering Bitcoins as a part of their 401K offerings. While many frowned on the move, including the Labor Department and Congress, Fidelity is now enjoying big interest in the offering. So much so that there are fintech startups popping up to meet the demand. I think Fidelity may get the last laugh.