EddieJayonCrypto
25 Oct 23
Could the BlackRock news have been yet another faux pas by a popular crypto news source? Here is what is on my mind today.1. Coinbase is going after the SEC saying the agency is overreaching in its definition of what a security is. This is actually going to be a big deal. People have not been paying...
Could the BlackRock news have been yet another faux pas by a popular crypto news source? Here is what is on my mind today.1. Coinbase is going after the SEC saying the agency is overreaching in its definition of what a security is. This is actually going to be a big deal. People have not been paying attention to the totality of the SEC losses that seem to just be piling up. The current definition seems to be far more than a widely cast net. If I buy a comic book expecting it to increase in value, does that mean the store where I bought it is now selling unregistered securities? 2. A lot of people think the listing on DTCC actually wound up being fake news. In fact, BlackRock's forthcoming Bitcoin Spot EFT was listed on the DTCC website. The actual question is should it have been? The link seemed too well placed, but it was a leak and not fake news. I am laughing since they wouldn't even notice that amount of money going missing. Not to mention it looks like it is either back on the site or was never really taken down. Worst case scenario, DTCC had a security breach and the blame will lie there. 3. Did you know that BlockFi emerged from bankruptcy yesterday? Neither did I. Apparently the bankruptcy plan went into effect yesterday. Customers and creditors are now allowed to file their claims I am not thinking this is going to be an easy process, but at least they have one. Distributions are expected to begin early 2024. 4. Is Binance behind the new HKVAE exchange in Hong Kong? There seem to be a lot of rumors saying it is. The new exchange is seeking appropriate licensing. If Binance is behind this move, it makes me wonder why so clandestine? It also makes me think the world's largest centralized exchange is not ready to start walking the fine line of regulatory compliance if they are going through such effort to hide their actions. 5. Wow! Ripple partners with Uphold to enhance underlying liquidity infrastructure? Yup! As per a press release from Ripple, this is indeed a fact. Ripple is looking to strengthen its infrastructure and it makes sense to partner with Uphold since they have a fully automated trading stack connected to 30 trading venues. This increasing the number of trading paths they can take. If you trade stocks, then you know how much of a big deal it is to have as many trading paths as possible. Ask Robinhood. They only have the single path last I heard. 6. Chainlink is back in the news with a fresh new partnership. Apparently, they are in bed with Vodafone to power global trade with their CCIP infrastructure. This is huge news as Chainlink wracks up yet another win. A proof of concept that involved Vodafone's Digital Asset Broker, Sumitomo Corporation (a huge Japanese financial player), Chainlink and InnoWave. Basically, Vodafone played the role of network node operator on the CCIP platform. They are trying to tackle what could be a $32T market. Mind you, this is on the heels of their SWIFT deal. Sponsors:🌎 https://RebelReach.com - Robust hosting and marketing services!🌎 https://RebelVino.com - All things food and beverage!🌎 https://RebelVisions.com - Helping companies achieve more through operational excellence and disciplined project execution!🔥 Smash the likes and SUBSCRIBE for more great videos! https://youtube.com/c/EddieJayonCrypto?sub_confirmation=1🚨 Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Eddie Jay on Crypto. Eddie Jay on Crypto may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.