EddieJayonCrypto
25 Aug 23
Possible PEPE rug pull coming? Robinhood is holding that mysterious Bitcoin wallet, but are the assets really theirs? Here is what is on my mind today.1. The big question swirling around the arrest of the 2 founders of Tornado Cash is how do you treat people that just write the code. What if they di...
Possible PEPE rug pull coming? Robinhood is holding that mysterious Bitcoin wallet, but are the assets really theirs? Here is what is on my mind today.1. The big question swirling around the arrest of the 2 founders of Tornado Cash is how do you treat people that just write the code. What if they didn't have anything to do with the actual operation of the platform? Does the platform in a set it and forget it state? Being a developer, I do have a lot of question about the case against them. 2. A massive security move by the PEPE development team is stirring some panic. They went from requiring 8 signatures on a wallet to only requiring 2. Then, even more suspiciously, there was about $15M worth of the popular memecoin moved to various exchanges. This is what actually cause the memecoin to plunge about 15%. If this doesn't scream rug pull, I don't know what does. 3. The Cryptoverse is still unsure of the ownership of that mysterious $3B Bitcoin wallet. I thought we had put it to bed with the owner being Robinhood. However, there are signs that the ultimate owner of the wallet may, in fact, be another entity or entities. The rapid amassing of Bitcoin by the owner of the wallet is what people are eyeing. You do have to wonder about where Robinhood would get that kind of money to afford that much of a purchase, even if it was over the span of three months. The investigation continues. 4. According to reporting by Reuters, Binance has lost a major partner in Mastercard. The two companies had launched crypto debit cards in Argentina, Brazil, Colombia and Bahrain. Well, that is all coming to an end on September 22nd as per an email from a Mastercard spokesperson. The email went on to say this will not affect any other crypto card programs, including one with Gemini. 5. It looks like ARK Invest and 21shares will not be left out in the Ethereum Futures ETF market. They have filed their application for "ARK 21Shares Active Ethereum ETF". They join the likes of Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, ProShares Short Ether Strategy ETF, and the Grayscale Ethereum Futures ETF who have each filed their own respective applications. When people ask me why I am so positive on crypto I point to news like this couple with the fact that people could be missing the boat. That gives people like me, who do their own research, an opportunity to gain an upper hand.