EddieJayonCrypto
5 Sep 23
Coming back from the Labor Day weekend in the United States I am taking the time to look further out and then track back. Here is what is on my mind today.1. Bybit took the covers off TradeGPT. This is a tool that leverages Bybit's market data to help crypto traders. The platform is a AI-based techn...
Coming back from the Labor Day weekend in the United States I am taking the time to look further out and then track back. Here is what is on my mind today.1. Bybit took the covers off TradeGPT. This is a tool that leverages Bybit's market data to help crypto traders. The platform is a AI-based technology They used the term "Crypto Ark" in describing how they are developing the platform to be a resource center for the Cryptoverse. That is actually a good use of the data they have. The question becomes how long will it be before larger exchanges do the same. Imagine the amount of data help by Binance and Coinbase. Bybit is also in the news with their launching of XRP trading against the Euro on the spot trading platform. I think the pair is a good idea and can help further growth of the centralized exchange. 2. We've got a saga in Gala. The founders are fighting over millions of dollars in tokens one alleges was misused by the other. Then you have the proverbial countersuit. Together it makes a mess of things for the value of the token which has already experienced a 99% decline from its ATH and has been has experienced a deep decline since the announcement of the legal woes. This is where we can see the opening for other projects to steal market and mind share. I am still a fan, but this could get messy as both founders own 50% of the company. 3. Stellar has been in the news with their MoneyGram deal which is a very smart move. Now they are in the news stating they are about to launch something new in just 7 days. I think the tease machine has been turned on and people are going to be quite interested in what could be in the works. Remember, Stellar's mission is to achieve efficient international transactions, especially where retail customers are concerned. I am looking forward to what could come. 4. Stake.com is a gambling platform backed by Drake. The big news about them is the hack that cost them about $40M. It started with $16M in suspicious withdrawals late Saturday and then ballooned. The reason why they are in the news is because they do leverage crypto and are known as a crypto casino. The platform was able to resume normal operation, but I am sure they are delving deep into how this happened. 5. Seems like Circle is not to be left out of the teasing of future plans. They are set to reveal an update about the USDC ecosystem. I am not surprised since the announcement that Coinbase has a stake in the company. I am not sure what it means to boost an ecosystem, but I guess we will soon find out. 6. Binance is taking it on the chin again as another top executive exits the company. This time it is the Global Head of Product. Back in July I told you about other exits by the Chief Strategy Officer and their General Counsel. I am waiting to see if there are more exits and, more importantly, more entries, as the company is clearly undergoing a massive change in leadership.