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TimeStamps:
00:00 Coinbase Wells Notice (SEC Lawsuit)
01:28 Crypto On/Off Ramps Being Suppressed EN MASSE!
02:47 SEC Charges 8 Celebrities For Promoting Crypto
03:20 SEC Charges Justin Sun For Tron Blockchain
04:05 Joe Lubin Defends Ethereum as “Definitely Not a Security”
05:29 SEC Crackdown on Coinbase is Good?!
06:17 Fed Rate Hike News (Why Bitcoin Dipped?)
07:38 Do Kwon (Terra Luna Founder) Arrested!
08:24 Arbitrum (ARB) Airdrop was WILD!
08:58 Final Thoughts (Photos of Austin & Aaron)
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The SEC issued crypto exchange coinbase A Wells notice warning the company that It identified potential violations of U.S Securities Law Wells notice is Typically one of the final steps before The SEC formally issues charges yes Breaking news if you hold cryptocurrency As being tweeted by CEO of coinbase Brian Armstrong today coinbase received A Wells notice from the SEC focused on Staking and asset listings a Wells Notice typically precedes an enforcement Action so the SEC suddenly has a problem With coinbase's staking services and how They list assets but here Brian Armstrong explains why this is so Outrageous two years ago the SEC Reviewed our business in detail and Approved coinbase to go public Our S1 clearly explained our asset Listing process and included 57 References to staking the SEC said Nothing coinbase runs a rigorous asset Review process and has rejected more Than 90 percent of assets that applied While we understand that this is all Part of the journey to reforming our Financial system we are right on the law Confident in the facts and welcome the Opportunity for coinbase and by Extension the broader crypto Community To get before a court so coinbase will Not just roll over they are fighting Back against the SEC and Brian finishes
By stating we are proud to stand up for Our customers and the industry in these Moments Now if this was just a one-off from the SEC that'd be one thing but it looks Like this is part of a much bigger sweep Against the crypto Community Kraken to Suspend ACH deposits and withdrawals Following silvergate shutdown meaning Because of these bank shutdowns it's now Much much harder to find an on or an Off-ramp for crypto Kraken clients will No longer be able to use ACH deposits And withdrawals through silvergate we Are working to make ACH funding options Available through alternative funding Providers as soon as possible and will Communicate details with clients as soon As we can so all of a sudden all at once All these crypto exchanges are now Scrambling it seems that they're going To attempt to limit slash block the exit Ramps to bitcoin exchanges as the Banking system gets run it's starting Meaning it appears they're making it Harder for you and me to buy Bitcoin opt Out be our own bank as all these banking Units are getting shut down as tweeted By Sundeep the founder of polygon he Says so confused with this notice to Coinbase coinbase is the gold standard Of compliance and crypto as a regulator Why would you go after the most Compliant company of the industry
Doesn't it discourage everybody else From trying to be us compliant what's Going on over there in the US and Probably no coincidence the SEC issued This notice these notices on the very Same day just in the SEC has charged Eight celebrities regarding illegal Touting of Tron TRX and bit torrent Token BTT without disclosing that they Were being paid so the celebrities being Charged are as follows Lindsay Lohan Jake Paul Soldier Boy acon Etc and by The way this one in my mind needed very Justified I like the SEC cleaning up This aspect of crypto and now looking Specifically at the official SEC press Release the SEC is also charging Jocelyn's son with a mark manipulation And wash trading the SEC also charged Sun and his companies with fraudulently Manipulating the secondary market for TRX through extensive wash trading which Involves the simultaneous or near Simultaneous purchase and sale of a Security to make it appear actively Traded without an actual change in Beneficial ownership which of course Would fool any average retail investor Just looking at the volume of Cryptocurrencies on these exchanges and Then the SEC is also charging for Orchestrating a scheme to pay Celebrities to tout TRX and BTT without Disclosing their compensation wait a
Second if Tron is potentially a security If coinbase has potentially listed all These Securities from the SEC does that Make ethereum ethereum co-founder Joe Lubin comments being the co-founder of Ethereum I want to focus on ether for a Moment because there was this lawsuit Caught by the New York attorney general Against kucoin within that the the New York AG suggested that uh if ether could Be a security Um as part of that they say that the Shift of proof to stake has incentivized Users to to own each due to the pooling Method and the need for the way uh The Ethereum blockchain Works what's your View in that do you think it's a Security so anybody can say anything it Doesn't make it true Um it's it's unfortunate that uh Um that that sort of side swipe uh was Made but I don't think it's all that Relevant but people are afraid of Getting stake in it with the expectation Of profit Um that is one of the the determinants Of what is a security so is that not Concerning people buy barrels of oil With the expectation of profit Confident at this point that ether's not The security what if it is what if it is The security what are the implications Um I don't think there's any point to Speculate on something that is uh
Extremely unlikely And to give you all sides of the story This channel gives you all the Information some are saying this SEC Wells noticed the coinbase will turn out Eventually to benefit it has to do with Safety and Security and I I don't think This is necessarily a negative thing if They were to prevail Um I think it would be good for the company Because it would it would Define the Regulation and it would also this is Gary Gensler and so it also would sort Of Uh just make it clear exactly who's in Charge and who you need to look to to Make sure that you're complying with Everything Regulators want you to do I Think that's what the SEC is trying to Do it has not been given the guidance or The approval by Congress to say that It's the the regulator in charge here But I think Gary Gensler is doing Everything he can to work around the Edges of that and bring whatever actions He can now if you're wondering why Bitcoin just took a dip yes as of Yesterday Federal Reserve chair Jerome Powell announced a 0.25 interest rate Hike this brings the federal funds rate Now between 4.75 and 5 so yes Jerome Powell is still trying to suppress Inflation meaning yes Jerome Powell is
Still trying to suppress markets but Really we all expected this and it was More likely the hawkish tone that Jerome Powell still had saying the banking System is fine liquidity is fine we're Going to raise rates as long as we need To to get down to two percent inflation Here is a 40 second recap inflation Remains too high and the labor market Contin used to be very tight we need to Raise height raise rates higher we will We remain committed to Bringing Inflation back down to our two percent Goal and to keep longer term inflation Expectations well anchored our banking System is sound and resilient with Strong capital and liquidity we're doing A review of supervision and regulation My only interest is that we identify What went wrong here when a bank fails Their investigations and of course we Welcome that we will continue to closely Monitor conditions in the banking system And are prepared to use all of our tools As needed to keep it safe and sound at The end of the day we will do enough to Bring inflation down to two percent no One should doubt that and huge piece of Breaking news terraform Labs co-founder Dokwon the CEO of the guy behind Terrell Luna stablecoin reportedly arrested in Montenegro the former blockchain exec is Wanted by Interpol for his role in the 40 billion collapse of the Terra Luna
Ecosystem during May 2022. now we know This because this was officially Announced by the minister of interior of Montenegro he put out the official Statement about dokwan and on top of That that exact same day South Korean Local news Outlet something news agency Said authorities confirmed based on Photo data alongside name nationality And age a of an identification card that The arrested individual was the same Person as terraform Labs CEO dokwon And possibly the biggest piece of Altcoin news that just happened layer 2 Ethereum scalar arbitrum the arbitrum Foundation homepage crashes as users Rush to claim their new airdrop so the Highly anticipated arbitrum airdrop has Finally gone live just as a reminder on What arbitrum is ARB is the Speedy layer 2's highly anticipated governance token Which was first announced on March 16th People were able to claim if they had Interacted in the past with the arbitrum Layer 2 and of course the price the Launch popped off it was so awesome Seeing everybody at Outer Edge Conference in La great to talk crypto Great to be on panels and if you want to Catch us at the next one join us for Bitcoin 2023 the largest crypto Conference in existence in Miami Beach In May ticket prices do increase in About one day so use code altcoin daily
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