EddieJayonCrypto
19 Mar 22
• Binance is exiting Canada. I do not think that will bode well for the country• The International Monetary Fund keeps proving it has no love for crypto with its latest deal with Argentina• The Australian Competition and Consumer Commission has taken Meta to court over what it believes to be scam cr...
• Binance is exiting Canada. I do not think that will bode well for the country• The International Monetary Fund keeps proving it has no love for crypto with its latest deal with Argentina• The Australian Competition and Consumer Commission has taken Meta to court over what it believes to be scam crypto ads• GameStop is reaching for straws. I think this is the second time they have announced they are going to launch an NFT marketplace• FTX and Animoca are backing a $500M crypto gaming platform on TerraI have been looking for some long-term impacts in the crypto space today. Well, I found a lot. Here is what is on my mind today.1. Binance is getting no love from Canada. They have confirmed they will not be opening any new accounts in Canada. They have also presented a plan to cease servicing existing accounts. Some accounts will receive zero fees and some will actually receive reimbursements. Frankly, I think this is a bad move by Canada and will have long-term effects. 2. Well, I have stated before that the IMF or International Monetary Fund is no proponent of crypto. Well, they have cut a deal with Argentina that will at least slow down the adoption of crypto in the country. The question I have is how long will this last? Sometimes the people can force the government machine to change. This move only discourages crypto. 3. The Australian Competition and Consumer Commission has taken Meta to court over what it believes to be scam crypto ads. To me, this is not about crypto as much as it is about the policies and practices of Meta to allow certain ads to be run that could be deemed to be fraudulent. Apparently, Meta has not done a good job as putting a stop to scam ads. At least this Is the sentiment of one of the wealthiest people in Australia, Andrew Forrest. 4. GameStop is reaching for straws. I think this is the second time they have announced they are going to launch an NFT marketplace. The only difference this time is they kind of gave a date. They kind of stated it will be launched at the end of Q2. There was no clear plan given though. Is it going to be in game stuff or is it going to be merch? Who the heck knows. I have zero faith. 5. FTX and Animoca are backing a $500M crypto gaming platform on Terra. I have been squawking about LUNA for a while and this proves my constant chirping could be right. This will be a boon to Terra and will also cause LUNA value to grow in the future. 6. Just in case you thought Solana didn't have more going on, you were wrong. Coinbase Wallet just added Solan support. Oh yeah! That includes support for Solana-based NFTs. I know I have been harping on Solana for a minute, but this move is proving me right. Solana is a solid layer one blockchain and traffic is booming.