EddieJayonCrypto
20 Oct 23
There have been some seriously major news. Here is what is on my mind today.1. The SEC has finally capitulated in the case against Ripple executives Brad Garlinghouse and Chris Larsen. This wasn't to be made official until the next hearing which was set for April. However, being that XRP was found t...
There have been some seriously major news. Here is what is on my mind today.1. The SEC has finally capitulated in the case against Ripple executives Brad Garlinghouse and Chris Larsen. This wasn't to be made official until the next hearing which was set for April. However, being that XRP was found to not be a security, the SEC truly had no case against the executives. I am thankful the SEC decided to save some taxpayer money with this move. This is why we are seeing XRP jump so much. 2. In more SEC news, JPMorgan says the SEC is nearing decisions on several Bitcoin Spot ETFs. I am in agreement given all of the various proposal adjustments that have been made. The latest being made by BlackRock. I am even more confident that we are going to see approvals by the end of the year. Remember, this is all on the heels of the windows for an appeal in the Grayscale Bitcoin Trust (GBTC) case closing. 3. Something else that happened what Fed Chair Powell speaking yesterday. He admitted that interest rates may not have been high enough nor long enough to combat inflation. With that said, he was also a tad dovish about raising rates. I think he recognizes that sometimes allowing things to ride is the way to go. Frankly, I am expecting jobs to cool in the coming couple of months. 4. If you are following us, then you know we posted about the New York State case against Gemini, Genesis and DCG yesterday. This is actually really big news. DCG could be in bigger trouble than I previously thought. I was expecting them to start selling off holdings, but now I am sure they will at least start the talks a lot sooner. They need to build that defense fund ASAP. The one thing that may save them is going to be positive movement for GBTC. 5. Binance is in the news today having announced new fiat partners for the euro. This means the world's largest centralized exchange can now handle deposits and withdrawals again. Keep in mind that Binance has been found wanting wherever regulatory compliance is concerned. Hopefully, this is a sign they are turning the corner. 6. It seems that Coinbase has pegged Ireland as it European headquarters. I have been saying the company has been looking to reduce its risk profile stemming from regulatory uncertainty in the United States. Ireland is cost effective and would position the company well for the 2024 implementation of the new MiCA regulations. 7. It would seem that France is not the only country looking to jump on the digital euro bandwagon. It is sounding like Finland is well under way in integrating the CBDC. That means things are picking up steam. The question is will the digital euro actually stave of advancement in he stablecoin space? I just don't think so.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.