EddieJayonCrypto
4 Oct 23
There are a lot of moves happening on the international stage and a couple of local moves that are going to sway the market. Here is what is on my mind today.1. Judge Torres does a mic drop on Gary Gensler's case against Ripple by denying the SEC's motion to appeal the XRP ruling. This is truly big ...
There are a lot of moves happening on the international stage and a couple of local moves that are going to sway the market. Here is what is on my mind today.1. Judge Torres does a mic drop on Gary Gensler's case against Ripple by denying the SEC's motion to appeal the XRP ruling. This is truly big news and that is why we saw a nice little pump by XRP. The ruling will stand that Ripple did not illegally sell XRP and, the cream on the cake, XRP is NOT a security. Adding to that good news, a Ripple subsidiary just got licensed in Singapore to be a Major Payments Institution. This is right on the heels of Coinbase achieving the same. 2. I am hearing news of a supposed Ledger wallet hack where someone supposedly lost 17K XRP. I am trying to find corroborating information but have seen none just yet. I will keep you posted as I learn more, if I learn more. If this were true, this would be a horrible event. 3. We are seeing Binance pulling back even further in the US given its current position in the eyes of regulatory authorities.. It looks like the next move for Binance is to discontinue BSUD borrowing and staking services as of October 25, 2023. I told you on September 1st that Paxos and Binance had parted ways and that Binance was beginning to delist BUSD pairs. This is the one of the final steps in the overall shutdown of the project. 4. There is a new billion dollar bad boy in the Cryptoverse called Deus X. It is being led by a Galaxy Digital alum, Tim Grant. It should be no surprise that the family office-led investment firm has invested in Galaxy Digital and other publicly traded firms and spread their investments across various hedge funds as well. In a post on LinkedIn Grant stated he believes we are in the midst of a fourth financial revolution. I have to say he isn't wrong. 5. Optimism Network seems to be on the move as they begin testing a ne system to enhance security and expand decentralization. OP Labs, the developer of the network, launched a testnet version of their fault-proof system yesterday. Should the testing go well, the launch of the new system would create a more decentralized Superchain. I am interesting to see the results of the testing. If this is true, I would think we would see an increase in the number of projects launched on the network. 6. OpenSea launches a new service called OpenSea Live. The new service would allow creators to launch and manage their NFT project more easily. One of the best features is the new ability to mint NFT directly into their personal wallets. That is actually a very big deal since you previously had to mint onto the platform. This gives creators more creative control over their projects. After their royalty debacle, this could be a step in the right direction to gain users back. 7. According to a Wall Street Journal report, Nvidia's office were raided by French law enforcement over allegations of anticompetitive practices. This is a very bold and public move by authorities. A move I think would not happen if they didn't feel they had enough evidence to do so. It doesn't mean the company is guilty, but it does mean the authorities felt such a surprise move was necessary to catch the company off guard. This is a very big deal given the chipmaker is a major playing in the Cryptoverse and other industries, including AI. 8. I told you before that the U.K. is not playing games with their new marketing/promotions rules. You have a lot of firms exiting the country ahead of the new regulations coming into effect. Firms like Bybit and PayPal have yanked certain services already. The new rules require firms to include things like adding risk labels. Authorities overseas firms are still unprepared. I think this is just the beginning of a mass exodus. I can't say I am upset about it. You should be able to abide by the rules, especially since they gave companies such a long runway to comply. 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!🚨 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.