EddieJayonCrypto
14 Sep 23
More selective enforcement by the SEC as they continue chasing jobs outside the US. Here is what is on my mind today.1. VeChain and VeThor went live on Coinbase then exploded about 9%. Here is hoping they can take that surge and use it to their advantage to market what they are doing. I am hoping th...
More selective enforcement by the SEC as they continue chasing jobs outside the US. Here is what is on my mind today.1. VeChain and VeThor went live on Coinbase then exploded about 9%. Here is hoping they can take that surge and use it to their advantage to market what they are doing. I am hoping they do more in the supply chain space and not just their new push toward sustainability. I would love to interview that team. 2. More selective enforcement by the SEC. The SEC is going after Mila Kunis and Ashton Kutcher's Stoner Cats NFT project. I heard someone ask if they are going to go after the former President and First Lady of the United States for their NFT projects. Coinbase is not the only company that believes if someone would fight the SEC on NFT enforcement the SEC would lose. I tend to agree since they seem to almost always bring weak cases. 3. Yesterday I told you how Ripple was taking 80% of their new hires offshore. Well, Coinbase has come out and said loudly that the SEC is pushing millions of jobs in that same direction. I have been saying it for a while and now you have company's saying the same thing. While the SEC cripples the US when it comes to emerging technologies, other countries are taking advantage of our huge mistake. 4. I know people are still freaking out about in the face of the impending FTX liquidation of digital assets like Bitcoin, Solana, Ripple and Tron. The fact is they can only liquidate up to $100M per week, for now. There is also a significant amount of the digital assets currently tied up in staking. The per week number could grow to $200M if all parties agree, but I think the fear of a huge dump is severely diminished. I still stand by my statement that most of this is most likely going to go by way of a bidding war or OTC transaction. Even if the liquidation were to happen in open markets, the fastest they could liquidate is 10 to 20 weeks. Mind you, I would be buying on the dips and I don't think I would be alone. 5. This is pretty funny. Paxos fat-fingered a Bitcoin transaction and wound up paying over $500K for the transaction. Originally, fingers were pointing at PayPal. That would not have been the kind of news they need to get their coin to rise from a ranking of 374 on CoinMarketCap. They are working with the miner that received the fee, but you must admit to the humor in it. 6. Following up on the Fortress hack that cost them what wound up to be $15M, CoinDesk identified the vendor who was hit with the phishing attack. Retool, is the San Francisco-based vendor that has Fortune 500 customers. The company notified 27 of its customers there was unauthorized access to their accounts. I am pretty sure there are a lot of companies that may be looking for a new provider. The topic is sure to be brought up in many a boardroom. 7. We got the Consumer Price Index (CPI) numbers yesterday and it showed a rise of .6%. This is greatly due to the rise in energy and food costs. The number is half that if you remove just those 2 factors. Frankly, it makes me wonder how much is as simple as greedflation Keep in mind that Saudi Arabia does have diminished production rules in place. The question is now what does the Fed do later this month. 8. I am going to end on this note. In a press release, Republican Congressman Tom Emmer introduces the CBDC ASS Act or the CBDC Anti-Surveillance State Act. I am not sure if someone should be praised or fired for the name.