EddieJayonCrypto
15 Jul 22
• SEC considering limited rules to regulate the Cryptoverse• Brian Armstrong, CEO of Coinbase, is now saying his company is strained from fast growth• OpenSea laying off 20% of workforce• Mastercard partners with Indonesian firm Fasset to make to stay close to the customer• Snapchat set to introduce...
• SEC considering limited rules to regulate the Cryptoverse• Brian Armstrong, CEO of Coinbase, is now saying his company is strained from fast growth• OpenSea laying off 20% of workforce• Mastercard partners with Indonesian firm Fasset to make to stay close to the customer• Snapchat set to introduce augmented reality NFT feature in August• NYDIG to provide Bitcoin payroll services to the New York Yankees' employees in multi-year dealSEC contemplating limited rules in regulating the Cryptoverse. Coinbase shows it has a vulnerability in what is a tougher market than many thought. Here is what is on my mind today.1. Faced with the reality of not having a handle on the Cryptoverse, SEC Chairman, Gary Gensler, in an interview with Yahoo! Finance, stated the SEC contemplating whether or not to waive certain rules in its continued attempts at regulating the Cryptoverse. This is where they have to tread lightly considering the active case they have with XRP. A case where they just got slapped by the judge in the case over their contradicting and hypocritical case regarding the Hinman Speech. Like I keep saying, The SEC needs a change in leadership. 2. Brian Armstrong, CEO of Coinbase, is now saying his company is strained from fast growth. I'm sorry. What does that even mean? Does it mean the company was managed poorly for a little bit and hired more people than actually necessary? Does it mean they were making strategic moves too quickly and have strained their resources? Maybe it was the opening of an NFT marketplace that was dwarfed by GameStop's in 2 days from GameStop's launch! They've already laid a lot of people off and now they are saying they must tighten those belts even more. Be prepared for my cuts to headcount. 3. The world's largest NFT marketplace, OpenSea, announced they will be laying off 20% of their workforce. I have said this time and time again. If you can easily identify a number like 20%, then you weren't managing your resources properly. Of course, OpenSea is not known for managing resources properly. A recent event that allowed their discord server to be compromised is evidence of this. Here's hoping they only cut the fat. 4. Partnering with Indonesian company Fasset, Mastercard is looking to make moves to stay close to the customer. You have to remember Mastercard is a third party in any transaction. Crypto doesn't require third party involvement. The times be a changing and working with Fasset, a crypto gateway, can help to create a lane in the future for credit card companies like Mastercard to exist in. 5. With its peers introducing NFT features, Snapchat is looking to join the crowd. According to a report in the Financial Times, one of the features that could be released as soon as August is the ability to turn your NFT into an augmented reality filter that can be superimposed on backgrounds from the real world. This is interesting considering Meta's focus is on virtual reality. 6. In a pretty cool move, The New York Yankees have sealed a multi-year partnership naming NYDIG as their official Bitcoin payroll platform. In this deal the Yankees will provide access to NYDIG's Bitcoin Savings Plan to employees. This means a portion of an employee's payroll can be converted into Bitcoin.