EddieJayonCrypto
17 Mar 22
• Elizabeth Warren is way over her skis with a new bill imposing unnecessary regulation on cryptos regarding sanctions• Coinbase Pay is a thing and it is meant to help people reach Web3, NFTs, DeFi and fund their non-custodial wallets via this new fiat onramp• Coinbase has been hit with a $5M class ...
• Elizabeth Warren is way over her skis with a new bill imposing unnecessary regulation on cryptos regarding sanctions• Coinbase Pay is a thing and it is meant to help people reach Web3, NFTs, DeFi and fund their non-custodial wallets via this new fiat onramp• Coinbase has been hit with a $5M class action alleging they sold unlicensed securities• Binance announces integration of PancakeSwap and their new Binance DeFi Wallet• Spotify has announced plans to integrate NFTs and other blockchain tech into their platformThere are some seriously big moves going on. Here is what is on my mind today.1. I think Senator Elizabeth Warren might be way over her skis with a bill that would require the President to identify any person that operating a digital asset platform or otherwise facilitates transactions for someone on the sanctions list. Granted cryptocurrencies have been used by some Russians to possibly evade sanctions, but short of cutting off all Russians from using their exchanges, many exchanges have abided by the sanctions list. Some have even gone beyond that. Her bill is beyond overreach. 2. Coinbase Pay? Yup. Coinbase has launched a new product that will allow users to interact with Web3 applications and provide access to NFTs. Coinbase says the platform would allow people to more easily interact with DeFi projects and purchase NFTs. The new feature also allows people to fund their non-custodial Coinbase Wallet. This is a big push into the Web3 space for Coinbase. They have a lot going on and I think there is more to come. For those that might recall a video I did a few weeks ago where I spoke about how Block is interested in building a decentralized fiat onramp. This is very similar. 3. Coinbase also has some not so good news. They are being hit with a $5M class action lawsuit over the unlicensed sale of 79 crypto assets, including Dogecoin. The lawsuit says Coinbase accuses the company of selling unlicensed securities and seeks to have the company reimburse everyone involved for their losses. Filed by Coinbase users for themselves and on behalf of other Coinbase users, they go on to state Coinbase broke federal laws. Sounds eerily familiar when you look at the case being brought against Ripple. 4. In another major move, Binance has announced its plans on integrating PancakeSwap into their non-custodial Binance DeFi Wallet. Simultaneously, they also announced users would be able to switch between Binance and DeFi. This creates a clear bridge between the CeFi and DeFi ecosystems. The Binance application is the first to implement the PancakeSwap Mini Program. Let this wash over you for a minute. This and moves by other centralized exchanges to develop decentralized wallets says they recognized the cryptocurrency space is quickly moving toward decentralized everything. Mind you, there is a lot of money that can be made in the decentralized part of the industry. Remember, DEXs charge more than CEXs. 5. Not wanting to miss the NFT bandwagon, Spotify announced it plans to add NFTs along with other blockchain technology to their platform. Apparently, they have a Web3 roadmap and are hiring people to help implement it.