EddieJayonCrypto
11 Jul 22
• CoinFLEX sues Roger Ver for $87M• Financial Stability Board (FSB) of the G20 is set to release its own set of strategies on crypto assets• ING Bank spins off its crypto custody platform to GMEX Group• Celsius ditches legal team opting for resource from the same firm helping Voyager, Kirkland & Ell...
• CoinFLEX sues Roger Ver for $87M• Financial Stability Board (FSB) of the G20 is set to release its own set of strategies on crypto assets• ING Bank spins off its crypto custody platform to GMEX Group• Celsius ditches legal team opting for resource from the same firm helping Voyager, Kirkland & Ellis LLP• GameStop finally launches their much anticipated NFT marketplace and it is on Loopring• Don't forget that there are major numbers are going to be released this week, CPI, PPI, etc.Just a couple more things that came across my radar. Here is what is on my mind.1. Back on June 29th I told you about the problems CoinFLEX was having with Roger Ver. Well, things just picked up a notch with the Republic of Seychelles exchange bringing suing him for $84M. I know this is looking backward, but it emphasizes my view on holding your money on a centralized exchange versus in a non-custodial wallet. 2. On July 8th I covered the US Treasury released a proposal for a global framework for crypto regulations. On the heels of that, the Financial Stability Board (FSB) of the G20 is set to release its own set of strategies on crypto assets. Many of the member nations are debating whether or not they should follow in China's footsteps in creating CBDCs. It is not such an easy consideration when you think about it. I think the major issue for me is differentiation between a CBDC and its fiat counterpart. I think there could be a level of confusion there. 3. In an interesting move ING Bank spins off its crypto custody platform to GMEX Group. GMEX already offers institutional trading technology. With crypto exchanges falling down, this is an interesting pickup by GMEX and could play out well. Think about how this could play out, especially if you were to toss in a DeFi play with this. 4. Celsius ditches legal team opting for resource from the same firm helping Voyager, Kirkland & Ellis LLP. That is very smart move and it follows a couple of others, including paying down debt. 5. GameStop finally launches their much anticipated NFT marketplace and it is on Loopring. ImmutableX support will come at a later day…whatever that means. He only issue there is that the NFTs seem to be greatly out of favor. So, now we have to wait and see how the business model pans out. 6. Don't forget that there are major numbers are going to be released this week, including Consumer Price Index (CPI) metrics, Producer Price Index (PPI) and other metrics that help people determine the health of the US economy. This is a big deal as we see China experiencing bank runs, a lot stemming from the amount of loans, especially to Russia.