EddieJayonCrypto
16 Mar 22
• ApeCoin has launched and is being adopted by Bored Ape Yacht Club (BAYC)• The SEC is being called out for bombarding crypto companies with excess requests• President Zelenskyy has made it official and made crypto legal in Ukraine• After being licensed on Bahrain, Binance has joined FTX in Dubai by...
• ApeCoin has launched and is being adopted by Bored Ape Yacht Club (BAYC)• The SEC is being called out for bombarding crypto companies with excess requests• President Zelenskyy has made it official and made crypto legal in Ukraine• After being licensed on Bahrain, Binance has joined FTX in Dubai by also being licensed• Shiba Inu announces a 7000% jump in their burn rate in a single day• Terra (LUNA) has announced they are building a $10B reserve fund…in BitcoinThere are a lot of events that seem to be shaping the future of the crypto space. Here is what's on my mind today.1. ApeCoin has launched and is being adopted by Bored Ape Yacht Club (BAYC) even though they are not the developers behind the coin. The coin developed by ApeCoin DAO (DAO meaning decentralized autonomous organization) will be used by Yuga Labs (makers of BAYC) as the primary token for all new products and services. This is a big deal considering they have a game coming out later this year. Tomorrow, Animoca Brands' blockchain game Benji Bananas, will also implement ApeCoin. If you think this is going to be a big deal, you are not alone. ApeCoin's board includes the likes of Reddit co-founder, Alexis Ohanian, Dean Steinbeck at Horizen Labs and Maaria Bajwa of Sound ventures. Keep an eye on this. I think it will be a huge mover. 2. The SEC is under fire for excess requests from crypto companies. Congressman Tom Emmer is wondering why after receiving numerous tips about the situation. He has sent a letter to Gary Gensler, SEC Chair requesting more information. The letter was co-signed by U.S. Congressmen Darren Soto, Warren Davison, Jake Auchincloss, Byron Donalds, Josh Gottheimer, Ted Budd, and Ritchie Torres. The industry is gaining ground in government as demonstrated by this very bipartisan letter to the SEC. 3. It should come as no surprise that President Zelenskyy of Ukraine has signed a virtual asset bill legalizing cryptocurrencies in Ukraine. The government has received over $100M in support from the crypto community. Not to mention the technology has proven to, literally, be a lifesaver for Ukraine. I think this will serve as an example to the world. 4. After just getting licensed in Bahrain, Binance joins FTX by getting licensed in Dubai. 5. The Shiba Inu team has announce their burn rate is up 7,000% this past Monday with over 700M $SHIB burned on that day alone. 6. The co-founder of Terra (LUNA) has announced a plan to build $10B in Bitcoin reserves. Do Kwon, who is also the CEO, said the move will basically create a new monetary era with Bitcoin being the standard. More importantly, Kwon said the company will not be selling any of its native LUNA coins to build the reserves. This is going to be a huge move by Terra and will further drive the price of LUNA.