This Week in Crypto: US Bill, ETH Upgrade, SEC & More!!
⚖Infrastructure Bill Threatens Crypto Industry⚖
Even if the senate does pass the infrastructure bill in its current form, the house of representatives has already begun its recess which likewise lasts until mid-September, meaning it won’t get final approval right away ⛓Ethereum’s Historic Hard Fork⛓ EIP 1559, introduced ETH burning to the Ethereum blockchain. From hereon out, anywhere between 25-75% of all Ethereum gas fees will be burned with the remainder going to miners.
👨💻Google Open To Crypto Ads👨💻
FTX and Crypto.com have collectively dished out close to a billion dollars to get their brand recognized by potential retail investors, and I suspect they will be the most likely to advertise on Google
🏦PayPal Crypto Expansion, NCR Crypto Acquisition🏦
PayPal seems to be setting up shop next door in Ireland, and I suspect this has as much do with taxes as it does cryptocurrency adoption The National Cash Register or NCR has announced that it will be purchasing LibertyX, a payments company that created some of the first Bitcoin ATMs offered in the United States
🏃♂️Brian Brooks Bails On Binance🏃♂️
There has been a lot of speculation around why Brian stepped down ranging from the regulatory crackdown of Binance’s global operations to Brian’s own comments about the long-term profitability of cryptocurrency exchanges
👮♂️Former Monero Developer Arrested👮♂️
The charges Ricardo is facing are related to his former employment where he allegedly put his own personal bank information on company invoices so that he would receive money from clientele According to a statement by Ricardo on Twitter, he has been fighting this case since 2011, and there have apparently been some issues about setting a court date to resolve the matter since that time
🤼♂️SEC vs. Cryptocurrency🤼♂️
During Gary Gensler’s speech last week, he noted that ‘many of these tokens are offered and sold as securities’, and he agreed with former SEC Chairman Jay Clayton who said that ‘every ICO I have seen is a security’
☀Weekly Crypto Market Forecast☀
BTC has managed to pump past 45k, which is a significant zone of resistance as per the 200 day moving average Assuming we are still above the 200-day MA when this video hits the tube, there is a very high likelihood that we’re headed for new all-time highs in the coming weeks ETH also pumped significantly over the last week as expected. This week’s winners are the Voyager Token, Ravencoin, Qtum, the Internet Computer, and BitTorrent.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
