I read through the SEC's suit against Binance when it was released, and I have to say...
I almost had to hold it at arm's length while reading it, because it stunk to high heaven...
Something fishy is going on...
I can't prove this... and I'm not making any material claims here (please note: lawyers from the SEC)...
But the thing that stuck out to me was how the SEC kept mentioning the $11.6 billion in revenue Binance made on fees...
That's a lot of money....that traditional financial institutions could be adding to their bottom lines.
So it would not surprise me at all if the head of the SEC, Gary Gensler, was trying to clear the path for the "big boys of American finance" to muscle into the crypto industry and get their slice of the pie – while shafting smaller upstarts like Binance and Coinbase...
Fidelity, JPMorgan Chase, and BlackRock, are all in a desperate fight to get a toehold in the crypto market. Yes, the mad scramble from the big boys of American finance – to get into crypto – continued during the worst of this crypto bear market. They've been quietly hiring crypto related positions and expanding their infrastructure like mad.
Is it so far-fetched that Gensler is acting as their attack dog?
If you know how the SEC functions (basically to ensure the status quo), it's not that much of a conspiracy...
Futureverse, a platform combining artificial intelligence and metaverse technology, raised $54 million in Series A funding, with crypto payments firm Ripple Labs participating.
Growth equity fund 10T Holdings led the funding round, but Futureverse's valuation was not disclosed. Futureverse previously announced a partnership with Ripple that utilizes the XRP token.
The platform includes proprietary AI content generation tools designed to "enhance the music, objects, characters and animations that make up the metaverse."
MORE: Compass Point analyst Chase White agrees in a PRIVATE NOTE TO CLIENTS: "This ruling, at least in our view, removes any shadow of a doubt that ETH (ethereum) is a security while also being quite positive for altcoins, both seeing strength following the decision," he wrote in a note to clients.
White sees not only gains for ether (ETH-USD) and the altcoins, but expects that a Grayscale/GBTC win agains the SEC "will be a catalyst for higher prices and ETF approvals and institutional adoption." That, in turn, could lead to a supply shock due to the lack of bitcoin (BTC-USD) available to buy.
"With liquidity conditions remaining weak and the macro picture still uncertain, we wouldn't be surprised to see crypto assets become more volatile in the short-term, but any moves to the downside should be viewed as a buying opportunity for crypto assets and crypto-related stocks," White said in a note to clients.
Always knew ripple was not security and laughed when sec started their bs. IMO it was the cabal just f*cking around, angry cuz they couldn’t control it.
Now though, I’m surprised to see FedNow getting at it. Didn’t think Garlinghouse would give that over.
CONTEXT (Big Picture!)
I read through the SEC's suit against Binance when it was released, and I have to say...
I almost had to hold it at arm's length while reading it, because it stunk to high heaven...
Something fishy is going on...
I can't prove this... and I'm not making any material claims here (please note: lawyers from the SEC)...
But the thing that stuck out to me was how the SEC kept mentioning the $11.6 billion in revenue Binance made on fees...
That's a lot of money....that traditional financial institutions could be adding to their bottom lines.
So it would not surprise me at all if the head of the SEC, Gary Gensler, was trying to clear the path for the "big boys of American finance" to muscle into the crypto industry and get their slice of the pie – while shafting smaller upstarts like Binance and Coinbase...
Fidelity, JPMorgan Chase, and BlackRock, are all in a desperate fight to get a toehold in the crypto market. Yes, the mad scramble from the big boys of American finance – to get into crypto – continued during the worst of this crypto bear market. They've been quietly hiring crypto related positions and expanding their infrastructure like mad.
Is it so far-fetched that Gensler is acting as their attack dog?
If you know how the SEC functions (basically to ensure the status quo), it's not that much of a conspiracy...
Here's our previous post on the topic https://jimychanga.substack.com/p/blackrock-wants-bitcoin-for-dinner?utm_source=%2Fsearch%2Fblackrock&utm_medium=reader2
KEANU REEVES, RIPPLE AND SNOOP DOG.
What could possibly go wrong?
Ripple heads into the Futureverse
Futureverse, a platform combining artificial intelligence and metaverse technology, raised $54 million in Series A funding, with crypto payments firm Ripple Labs participating.
Growth equity fund 10T Holdings led the funding round, but Futureverse's valuation was not disclosed. Futureverse previously announced a partnership with Ripple that utilizes the XRP token.
The platform includes proprietary AI content generation tools designed to "enhance the music, objects, characters and animations that make up the metaverse."
The company also has partnerships with a star-studded cast of various companies and individuals, including FIFA, Mastercard, Death Row Records, Snoop Dogg and Keanu Reeves. https://www.theblock.co/post/240321/ripple-invests-in-round-for-ai-metaverse-company-partnered-with-fifa-and-mastercard
MORE: Compass Point analyst Chase White agrees in a PRIVATE NOTE TO CLIENTS: "This ruling, at least in our view, removes any shadow of a doubt that ETH (ethereum) is a security while also being quite positive for altcoins, both seeing strength following the decision," he wrote in a note to clients.
White sees not only gains for ether (ETH-USD) and the altcoins, but expects that a Grayscale/GBTC win agains the SEC "will be a catalyst for higher prices and ETF approvals and institutional adoption." That, in turn, could lead to a supply shock due to the lack of bitcoin (BTC-USD) available to buy.
"With liquidity conditions remaining weak and the macro picture still uncertain, we wouldn't be surprised to see crypto assets become more volatile in the short-term, but any moves to the downside should be viewed as a buying opportunity for crypto assets and crypto-related stocks," White said in a note to clients.
https://seekingalpha.com/news/3987760-ripple-ruling-bodes-well-for-coinbase-global-altcoins?mailingid=32098495&messageid=2900&serial=32098495.26644&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=32098495.26644
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Always knew ripple was not security and laughed when sec started their bs. IMO it was the cabal just f*cking around, angry cuz they couldn’t control it.
Now though, I’m surprised to see FedNow getting at it. Didn’t think Garlinghouse would give that over.