EddieJayonCrypto
6 Oct 23
Ledger is feeling the pain and Kraken is following in Coinbase's footsteps. Here is what is on my mind today.1. Ledger has been trying to recover from their snafu over the external their external recovery service, They are now faced with the hard decision to lay off 12% of their staff. Mind you it w...
Ledger is feeling the pain and Kraken is following in Coinbase's footsteps. Here is what is on my mind today.1. Ledger has been trying to recover from their snafu over the external their external recovery service, They are now faced with the hard decision to lay off 12% of their staff. Mind you it was not that long ago they raised about $109M. They cited crypto headwinds and their ability to raise revenue, Truth be told, their CEO made the misstep and I think that is what has caused them to take that major hit in the market. 2. It looks like the SEC is finally going after Elon Musk over his purchase of Twitter. A lot of people have been saying how he went about things was a mess and that he was being allowed to get away with it. In my humble opinion, he was able to manipulate sentiment and through that, the stock price. The funny thing is, it was all to his own detriment. I will definitely be following this case. 3. Kraken is following in Coinbase's footsteps with their own European expansion. They have taken steps to acquire Dutch exchange, BCM. Formerly known as Bitcoin Meester, BCM was founded in 2017 and is recognized by the Dutch central Bank, De Nederlandsche Bank. The Netherlands is one of the most popular gateways into Europe. This could prove to be a very smart move for Kraken, not to mention lucrative. Further proof that companies may not be exiting the United States, but they are decreasing their risk by establishing a strong footprint outside the United States. 4. I had been telling people during their battle with the SEC that Ripple had been sewing seeds around the world. One of those seeds could possibly be baring some fruit for the company. Apparently, the Australian Freight & Trade Alliance is mulling over previous offers made by Ripple. Admittedly, they had not made any attempts to review the offer while the case was ongoing, but are not considering things. If this were to come to fruition, it could be a boon for the rising star of the Cryptoverse. 5. It would seem that the Basel Committee on Banking Supervision (comprised of the UK, US and EU) is going to mandate that banks disclose crypto holdings. I think this could be a very telling move. Forgive the pun. I say this because some banks have been quite loud about their disdain of the crypto industry. Having significant enough holdings would counter those comments and paint a very different picture.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.