EddieJayonCrypto
28 Jan 24
Gemini: Gemini launches XRP perpetual contracts, providing traders with leveraged exposure to XRP. ProShares and Grayscale: ProShares' BITO trading volume drops significantly as spot ETFs gain traction in cryptocurrency investing. FTX sells its entire stake in Grayscale Bitcoin Trust (GBTC) as GBTC ...
Gemini: Gemini launches XRP perpetual contracts, providing traders with leveraged exposure to XRP. ProShares and Grayscale: ProShares' BITO trading volume drops significantly as spot ETFs gain traction in cryptocurrency investing. FTX sells its entire stake in Grayscale Bitcoin Trust (GBTC) as GBTC transforms into a spot exchange-traded fund; almost $1B. Massive outflows from Grayscale Bitcoin Trust (GBTC) following spot ETF approval raise concerns about BTC price stagnation. Grayscale slows its hemorrhaging of almost 100K Bitcoin, plunging their holdings over 15% BlackRock: The SEC postpones its decision on BlackRock's spot Ethereum ETF application, extending consideration. The SEC: The SEC faces criticism for inconsistencies in its legal arguments regarding crypto assets and investment contracts in the Binance case. The recent Binance-SEC court hearing reveals the SEC's ambiguous stance on crypto regulations and security tokens. The SEC's lawsuits against major crypto players like Coinbase and Binance reach a critical juncture with inconsistent arguments. The SEC's detailed reply in the XRP lawsuit against Ripple suggests a strategic targeting of Ripple's core business. Uncertainty surrounds the approval of spot Ethereum ETFs by the SEC, with conflicting opinions from experts; Hester Peirce says no lawsuit should be necessary. The SEC extends the decision deadline for Grayscale's Ethereum ETF application, prompting discussions on the sufficiency of exchange statements.Ripple: The SEC's detailed reply in the lawsuit against Ripple suggests a strategic targeting of Ripple's core business. Ripple's strategic move into the $10 trillion crypto custody market is revealed through acquisitions (e.g., Metaco) and partnerships. China: China is looking to backstop its economy by pumping over $141M into it. They are also facing an unemployment problem as youth are having a hard time finding work, especially in light of the crackdown on technology companies. This is following the implosion of their real estate market The Industrial and Commercial Bank of China (ICBC) settles for $32.4M with the Federal Reserve and New York Department of Financial Services (DFS) for multiple violations. Ethereum: Lookonchain reports large $64M ETH withdrawals and deposits by Celsius, contributing to Ethereum's recent price volatility. Ethereum's Dencun upgrade promises faster and cheaper transactions, addressing the network's scalability issues.Terraform Labs: Terraform Labs files for Chapter 11 bankruptcy amid issues with TerraUSD and LUNA token.Economy: GDP is up a huge 3.3% far above the 2.0% est. We are going to have to start paying serious attention to the number of layoffs happening and how that could play out over the next year as companies reverse on hyper growth to what is now hyper downsizing. A cut in staff doesn't mean a company is operating well. It is only a stop-gap🚨 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.