tl;dr
• Jamie Dimon proves Elon Musk isn't the only person that can move markets saying an economic hurricane is coming• The Reserve Bank of India says they are on track to launch a CBDC during the fiscal 2022-2023 year• Binance's VC arm, Binance Labs, has raised half a billion dollars to invest in Web3 a...
• Jamie Dimon proves Elon Musk isn't the only person that can move markets saying an economic hurricane is coming
• The Reserve Bank of India says they are on track to launch a CBDC during the fiscal 2022-2023 year
• Binance's VC arm, Binance Labs, has raised half a billion dollars to invest in Web3 and blockchain startups
• You can add DEI, a tiny cap, to the list since the coin lost its peg
• Nathaniel Chastain, a former executive with OpenSea, has been arrested in New York for alleged insider trading
Sometimes there is so much going on that you just have to shoot two videos in a single day. Here is what else is on my mind today.
1. Jamie Dimon proves Elon Musk isn't the only person that can move markets. The CEO of JP Morgan Chase, the biggest bank in the US, at a financial conference in NY, "You know, I said there’s storm clouds but I’m going to change it … it’s a hurricane," He went on to say, "JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet." As a result, Bitcoin is below $30K and Ethereum is below $2K. The whole space took a nosedive. This is a big change from his sentiment only 9 days ago.
2. The Reserve Bank of India says they are on track to launch a CBDC during the fiscal 2022-2023 year. The implementation will be a graded approach. Meaning they will walk through the standard stages of proof of concept, pilots and the launch. As I have been saying, I am interested to know how you will use the coin. Obviously, you need a wallet. The real question is "which wallet?". As you know, India has seriously tamped down on the use of digital assets in that country. I am interested to see how this plays out.
3. Binance's VC arm, Binance Labs, has raised half a billion dollars to invest in Web3 and blockchain startups. This is their first startup fund and it's being backed by DST Global and Breyer Capital in addition to a number of family offices and organizations. The VC also plans on backing Elon Musk's purchase of Twitter with a $500M investment.
4. Please tell me why people are still playing with low market cap, so-called stablecoins. Well, you can add DEI to the list since the coin lost its peg and has dropped below $.40. again, do your own research. It may help you avoid moves like investing in tiny cap stablecoins.
5. Nathaniel Chastain, a former executive with OpenSea, has been arrested in New York. The Southern District of New York alleges he hatched a scheme to use his insider information to make money for himself. With so many eyes on the crypto industry, I am amazed that people think they are actually going to get away with kind if stuff. The wheels of justice may be slow, but the turn nonetheless.