EddieJayonCrypto
11 Aug 23
There are some big moves going on and one of them could rock the markets. Here is what is on my mind today1. ARK 21Shares ETF decision is supposed to be the 13th. Alas, I did tell you I think they are going to kick the can down the road or deny it outright. If a denial comes, there will be an uproar...
There are some big moves going on and one of them could rock the markets. Here is what is on my mind today1. ARK 21Shares ETF decision is supposed to be the 13th. Alas, I did tell you I think they are going to kick the can down the road or deny it outright. If a denial comes, there will be an uproar. I think the odds are they the SEC will kick the can down the road. 2. Riot Platforms released their numbers yesterday and they have narrowed their losses. That is actually a big deal for the Bitcoin miner. In Q2 last year they lost over $353M. This year's loss was only a hair less than $28M. 3. In an interesting move, Y00ts NFTs is going to return the $3M grant to Polygon and migrate to Ethereum. At first blush you could think this was a bad thing for one of my favorite projects. In actuality, this was a business decision by Y00ts to merge communities with DeGods'. 4. It looks like Bittrex has settled with the SEC for $24M. Of course, they did not have to admit to the allegations that they were operating as an unregistered exchange. Also, you know the SEC took their victory lap stating they company tried to skirt the laws, but failed. If you do not have to admit guilt, I think they won. As well, if they only paid that much and are still in business, I am pretty sure they succeeded. 5. In another move Genesis and Barry Silbert, CEO of Digital Currency Group, they move to have the case brought by Gemini dismissed. I actually find this to be quite interesting. I don't think it will happen though. I think there is enough to make the case and no judge is going to just let that walk out the door. It is more like a standard step for a defendant that expects to lose. 6. I am still seeing centralized exchanges making big moves to find new ways make money. Both Binance and Coinbase have made significant investments in liquid staking. Of course, Coinbase has also released their Layer-2, Base. They are seeing usage surge. This could wind up being a smart move for them.