EddieJayonCrypto
27 Sep 23
The government shutdown may have been delayed, but there much more going on. Here is what is on my mind today. 1. It looks like the US Senate may have come to a bipartisan deal that could temporarily pause a government shutdown. The deal would kick the can down the road and keep the government open ...
The government shutdown may have been delayed, but there much more going on. Here is what is on my mind today. 1. It looks like the US Senate may have come to a bipartisan deal that could temporarily pause a government shutdown. The deal would kick the can down the road and keep the government open until mid-November. The deal also includes billions in aid for Ukraine. A contentious point for House Republicans and could have them balk at the idea. I would say if the Republicans in the House can't get this to work, there are going to be very interesting 2024 elections. 2. The SEC is consistent in one major way. They consistently kick the Bitcoin Spot ETF decisions down the road. And they continued that trend by delaying the decision on the ARK 21Shares and Global X Bitcoin Spot ETFs. This time it was done in grand fashion as they pre-emptively delayed the decision until next year, January. Imagine that, before the decisions were even due, they kicked them 3. In a contrarian move, Chase Bank in the UK has slammed the door on crypto transactions. In an email to clients, the bank has stated they will be terminating crypto services while offering banking alternatives. Frankly I am very interested to see what the fallout will be from this. I want to know how many people and companies will move at least some of their money to other institutions to keep the ability to work with digital assets. Meanwhile 4. BlockFi has been approved by the courts to begin repaying customers. The bankrupt crypto lender's liquidation plan was also approved by their Chief Restructuring Officer. The FTX debtors had issues previously, but may have been at least somewhat quelled with the amended bankruptcy plan. The whole situation has been messy from the beginning, but it is nice to see some headway. 5. Gary Gensler, Chairman of the SEC, is going to get grilled during the House Financial Services Committee hearing today. He is holding firm that cryptocurrencies, crypto firms and exchanges are subject to existing securities regulations. Meanwhile, he is facing pressure from lawmakers from both parties to approve Bitcoin Spot ETFs. Something he is unwilling to do. This clash is going to get louder and come to a head. The question is how much longer will we have to wait for him to be pushed out? 6. In big Shia Inu news it looks like BONE Has been renounced and there is talk that a listing on Binance is imminent. Now that BONE (ShibaSwap) has been renounced it is a fully decentralized, permissionless system. This could be huge and I expect the ShibArmy to take note.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.