There were deliverability issues with yesterday's newsletter and the revue platform. It is likely in your spam folder. If you did not receive it, sorry, but it did go out! Hopefully it is resolved today. Also, IntoTheBlock is taking 2 weeks off, so we will see that back in the newsletter soon!This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.The job of regulators is to protect consumers. In theory, their efforts should prevent the average citizen from losing their life savings on extremely risky investments and from being targeted by bad actors.What they are actually doing is preventing consumers from making money.Nothing new here: see accreditation laws. To partake in the best investment opportunities in the United States, you have to prove that you are already wealthy. The law is effectively saying that, because you are rich, you are smart enough to make your own decisions with your own money. This implies that the "little guy" is unable to make savvy financial decisions.Now regulators are going after Coinbase, threatening to sue the company if they proceed with the launch of their LEND product. The story is bizarre. Coinbase is a publicly traded company, vocal about their efforts to comply with regulators and the law of the land. They approached the SEC directly about the product, and were told that it was a security, with zero explanation or written guidance as to why. Then the SEC threatened to sue over the very idea.Brian Armstrong, CEO of Coinbase, went into detail in this twitter thread.Once again, the SEC is asking crypto companies to comply with unwritten laws. They want Coinbase to use their crystal ball to determine what may be permissible in the future.Most interestingly, Coinbase is simply attempting to offer 4% yield on USDC holdings - far less than the industry norm and what other companies are offering. I will not get into speculation, but it is clear that this is of concern for all of our favorite platforms that are offering interest bearing products. No reason to panic, I am sure there would be plenty of time to remove funds if clearer guidance comes down.But 4% yield can be offered easily and safely by Coinbase - they laid out the entire plan, only to be told that they would be sued by the SEC - with no explanation.The United States seems dead set on coming in last place in the race for crypto adoption and technological advancement. While I was dismissive about the language in the infrastructure bill, it's clear that there are no mistakes here. Crypto is under attack in the United States, and innovation is likely to move off shore.I expected more from Gary Gensler, but it seems he is more "Goldman Gary" than crypto advocate.Let's hope that Coinbase mounts a decent defense.---Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can not do every chart that is submitted. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream link: https://www.youtube.com/watch?v=4KB-_coSeSgIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:Regulators, Mount UpBitcoin Thoughts And AnalysisAltcoin ChartsCrypto Is Officially Legal In TexasEl Salvador Is Buying Bitcoin In BulkCBDC Gaining Steam In ChinaFeature On Making Money With Charles PayneMy Recommended Platforms And Tools
The Wolf Den #324 - Regulators, Mount Up
The Wolf Den #324 - Regulators, Mount Up
The Wolf Den #324 - Regulators, Mount Up
There were deliverability issues with yesterday's newsletter and the revue platform. It is likely in your spam folder. If you did not receive it, sorry, but it did go out! Hopefully it is resolved today. Also, IntoTheBlock is taking 2 weeks off, so we will see that back in the newsletter soon!This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.The job of regulators is to protect consumers. In theory, their efforts should prevent the average citizen from losing their life savings on extremely risky investments and from being targeted by bad actors.What they are actually doing is preventing consumers from making money.Nothing new here: see accreditation laws. To partake in the best investment opportunities in the United States, you have to prove that you are already wealthy. The law is effectively saying that, because you are rich, you are smart enough to make your own decisions with your own money. This implies that the "little guy" is unable to make savvy financial decisions.Now regulators are going after Coinbase, threatening to sue the company if they proceed with the launch of their LEND product. The story is bizarre. Coinbase is a publicly traded company, vocal about their efforts to comply with regulators and the law of the land. They approached the SEC directly about the product, and were told that it was a security, with zero explanation or written guidance as to why. Then the SEC threatened to sue over the very idea.Brian Armstrong, CEO of Coinbase, went into detail in this twitter thread.Once again, the SEC is asking crypto companies to comply with unwritten laws. They want Coinbase to use their crystal ball to determine what may be permissible in the future.Most interestingly, Coinbase is simply attempting to offer 4% yield on USDC holdings - far less than the industry norm and what other companies are offering. I will not get into speculation, but it is clear that this is of concern for all of our favorite platforms that are offering interest bearing products. No reason to panic, I am sure there would be plenty of time to remove funds if clearer guidance comes down.But 4% yield can be offered easily and safely by Coinbase - they laid out the entire plan, only to be told that they would be sued by the SEC - with no explanation.The United States seems dead set on coming in last place in the race for crypto adoption and technological advancement. While I was dismissive about the language in the infrastructure bill, it's clear that there are no mistakes here. Crypto is under attack in the United States, and innovation is likely to move off shore.I expected more from Gary Gensler, but it seems he is more "Goldman Gary" than crypto advocate.Let's hope that Coinbase mounts a decent defense.---Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can not do every chart that is submitted. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream link: https://www.youtube.com/watch?v=4KB-_coSeSgIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727) for instructions on how to make my charts your own.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:Regulators, Mount UpBitcoin Thoughts And AnalysisAltcoin ChartsCrypto Is Officially Legal In TexasEl Salvador Is Buying Bitcoin In BulkCBDC Gaining Steam In ChinaFeature On Making Money With Charles PayneMy Recommended Platforms And Tools