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up0 nosupersub ulnone Who crashed the market?uc0u8232 u8232 FUD or Fundamentals, we’92ll take
a closer look on this week’92su8232 u8232 Exodus Market Recap.u8232 u8232 The market’92s
down from last week as the Fudsters decry the sky is falling while more pragmatic individuals
double down on how this is the perfect opportunity to stack more sats.u8232 u8232 Welcome everyone
to the weekly Crypto summary and will dig a bit deeper into what cased the selloff after
the quick news summary.u8232 u8232 This week the Fed Chairman J powel confirmed the
US is looking into developing a digital Currency.u8232 “We have assessed and we continue to carefully
analyze the costs and benefits of pursuing such an initiative in the U.S.,” Federal Reserve
Chairman Jerome Powell wrote in a letter to lawmakers this week.u8232 u8232 The popular
privacy coin XMR was subject to a hack where malicious code was injected into the official
Monero wallet. u8232 u8232 A Monero Core Dev said CLI Libraries on the {field{*fldinst{HYPERLINK
“http://getmonero.org”}}{fldrslt cf2 ul ulc2 getmonero.org}} may have been compromised.
The vulnerability was quickly patched when found and anyone who is running packages from
wallet providers should always check the Hashes from the developers to confirm they match
the Hashes of the downloaded program. That’92s a bit technical and I’92ll include a link
to an article on the Exodus support site about how to do this with your Exodus wallet.uc0u8232
u8232 Blockchain Investigators Chain analysis laid of 20% of their workforce this week with
equates to about 29 employees across many depts in a move to lead to a `path to profitability`u8232
u8232 Another Canadian exchange disappears with customers funds. Einstein exchange was
being investigated by the British Columbia Securities commission, Apparently the exchange
did not have possession of all the customers funds and after the BCSC requested financial
records the company the owner closed the offices and left customers high and dry with empty
company wallets. How many times to we have to say, Not your keys, not your Bitcoin.u8232
u8232 This week in DeFi saw the swap of Single collateral Dai into Multi-Collateral Dai.
This long awaited move by Defi enthusiasts is a major milestone in the evolution of Defi.
To see how to swap your old SCD into the new MCD please click the link at the end of the
video.u8232 u8232 In investment news, Greyscale is filing with the SEC to register it’92s
Bitcoin trust and if approved will make them the first crypto company to report to the
SEC and have an investment structure which is more familiar to traditional investors.
Paypal, the global payments company joins
a 2.4 Million round of investment for TRM labs. A Crypto Banking Compliance start up.
Usually at odds, Crypto and Banks make for unusual partners. What do you think, will
this lead to adoption or or the destruction of the crypto ecosystem. uc0u8232 u8232
Please leave a comment below to join the conversation and mash the Like button on the way down.u8232
u8232 We’92re going to take a closer look into the recent market movements and the potential
causes.u8232 u8232 u8232 Addressing the Elephants in the room there are a couple theories
about what caused the selloff.u8232 u8232 First is the apparent shutdown of the Binance
Shanghai office as reported by the Block. Sources, the Chinese govt raided the office
which hosted some of the companies top executives including CZ himself, who relocated to Singapore
after the raids. uc0u8232 After the initial reporting, CZ
posted a tweet saying this was FUD and Binance does not have any offices in Shanghai and
denounced the report as Fake news.u8232 u8232 TheBlock then shot back doubling down on their
story and Binance eventually announced they will be filing a lawsuit against the block
for it’92s story, then reinforced the decision by creating a 1M dollar fund with contributions
from Justin SUN, CEO of TRX, to help fight against fake news. u8232 u8232 This is an
extreme politicizing from either side as now, 2 of the most wealthiest men in crypto have
the means to decide what is real and what is fake reporting.u8232 u8232 The claim
of this raid having an impact on the Selloff does not hold water to me when I compare other
recent negative Binance news to market moves.u8232 u8232 Binance was hacked and lost 40 million
dollars on may 8th, what happened to the market at that time. It finished in the green that
day and is currently sitting about $1000 higher at this moment than it was back then.u8232
u8232 Could the sell off have been triggered by the reports of the Central bank of China’92s
crackdown on Exchanges who are defying China’92s cryptocurrency trading ban which included
more than just Binance. However this ban has been in effect for some time as China seeks
to move into a blockchain monopoly in the country. u8232 u8232 Or could we just be
looking at a Bear market heading into the halving?u8232 u8232 Leave a comment below
to join the discussion and let us know what you think.
uc0u8232 Let’92s take a quick look at the numbersu8232 u8232 Bitcoin price is hovering
just over 7 thousand dollars and the last time we saw this level was’85 All the way
back in May of this year. However we are down just over 16% in the last 7 daysu8232 u8232
On the brighter side, BTC is up 32% over the last 12 months. Let that continue to illustrate
the power of BTC against the dollar.u8232 u8232 The current crypto marketcap is sitting
at just over 200 billion dollars with a 24 hr trading volume of about 76 billion. BTC
dominance remains about 66%u8232 u8232 u8232 Thanks for joining us and please leave a comment
letting us know how were doing and what you would like to see on the program. Make sure
to hit the trifecta of Like Share and Subscribeu8232 u8232 Don’92t believe the hype, Crypto will
continue to grow and it’92s a better time than ever to download Exodus and start stacking
sats. To the moon.u8232 u8232 u8232 u8232 u8232 u8232
}