Welcome back to cryptos are us I'm George we're all George so this morning I want to talk about this little dip With Bitcoin you can see Bitcoin fell Below 23 000. man all of a sudden this Happened and you may be wondering why And I do believe I have found the cause And it's due to none other than Gary Gensler and SCC so yesterday it was Reported that SEC is a ready Investigating the crypto exchange Kraken Which is a fairly they are fairly large Exchange in the US and this is over Security violations now when I first Read this I'm like okay this by itself Would not prompt the market to dip right But this is concerning because what does This mean uh is Destiny to go after Binance or go after coinbase right or Have they are ready or they go after Gemini which they do have a lawsuit Against right now uh so we don't know Know but it's looking like the uh the SEC it just kind of you know trying to Just disrupt things right it just it's Fairly obvious that Gary gunzler wants More control and he does not like the Way crypto is evolving right now he does Not like a free market so uh so this is What's happening so we don't know Exactly what's gonna happen with Kraken It's rumor that they will just settle Right and maybe they have to delist a Lot of the the coins on their platform
Right but I think this is what spooked The market a little bit and not this but This Brian Armstrong who is the CEO of Coinbase uh he laid this out he's saying I'm hearing rumors that the SEC would Like to get rid of crypto staking in the U.S Okay this this would be This will be disastrous okay and I guess we have to we have to if true we Have to get clarity on what kind of Staking right Um staking within liquidity protocols Like liquidity pools Um Within uniswap or Ave or compound okay That's bad enough because that would set Dex's back quite a lot But what's worse is if that's easy Doesn't even allow anyone to stick in uh In their chain natively to help power it For example ethereum or cardano or Solana or polygon right if that is true And they want to get rid of staking all Together Well that would be absolutely disastrous Right the good thing is This project will continue to survive Obviously they're not just within the U.S they are worldwide and there's many Validators nodes and block producers Around the world right but still this Was really the US
Oh I don't know a whole bunch of stuff Triple Innovation there's no adapts no Crypto product didn't want to be in the US anymore right it's called our Freedom People will have less choices and who Knows where this goes right what else The SEC is going to do so I'm hoping This is not the case I'm hoping really This is just a rumor but last time Brian Armstrong tweeted out about a rumor it Actually turned out to be true so Let's hope this is not the case but We do have one other piece of news about The SEC that could help this situation Right everything that they're doing Gary Gunzler throwing his weight around Throwing his power around because right Now no one's challenging him right but Guess what maybe maybe Ripple will so It's been leaked by Fox Business Journalists Um that there is going to be some kind Of announcement today there's a closed Meeting and it does seem like there may Be a conclusion to this lawsuit against Ripple And if Ripple somehow pulls a rabbit out His hat and wins this case this will be Enormous enormous I can't I can't say how enormous uh this is uh If true uh or if it happens I should say Because not only uh will xrp Skyrocket To the moon but the entire industry
Because finally we have someone that Fought back and won against Gary right And after this The SEC can't be doing all the things That they have done or plan on doing Because they think they can just declare Everything as security they cannot now The SEC of course did lose against the Project Library recently they they lost And won because they basically Bankrupted library but one good thing That came out of that case is that the Judge ruled that just because tokens are Being sold in the secondary market like With that like on dexes and centralized Chains does not make them a security Automatically right so they're starting Little pushback but this will definitely Uh be huge if it happens right and this Supposedly is going to come out today I saw this this is interesting the Federal Reserve actually published a 31-page Bitcoin research paper Okay 31 Page quite a lot but to summarize and I'm glad it's summarized here Bitcoin Shares most of his features of a store Value such as gold yeah and concludes Bitcoin is unresponsive to both monetary And macro economic news interesting Federal Reserve basically declared that Bitcoin is the new gold it's a digital Gold that basically is Decoupled or uncoupled away from Monetary policy which yes that's that's
Why Bitcoin was created and yes uh the Federal Reserve and Adidas Treasury and All these Banks and governments around Well can't can't affect Bitcoin Um and macro economic news that that I Think eventually will happen but not Right now because right now when Investors Panic they sell off everything So we have seen that before right but in The future it will definitely be Unresponsive to macro economic news or Conditions And Yeah so the Federal Bank of uh New York Even recognizes Endorsing Bitcoin for what it is right So that's that's pretty positive uh but Of course we have a lot of charts like This that show that yes even though We're heading up we haven't exploded yet This is kind of precursor of what's to Come especially if you compare what Happened in 2019 when we were coming up From bottom right it looks very very Similar this is considered what's uh This is what's called a bullish Divergence so Just wait for it just wait for it of Course a number of people waiting for it Have been growing the non-zero addresses Meaning addresses that have some kind a Little bit of SATs in there right uh has Reached an all-time high of 43 million 800 000. so there are definitely a lot
Of people waiting for better days and Waiting for Bitcoin to go upwards Um and right now they're staying strong And holding and that's the best way to Do it that's the best way to do it here Also balance on exchanges uh it's just Dropping dropping like mad right now Okay reach the 40 or low so there's only 2.2 million Bitcoin on exchanges right And it's gonna keep dropping and Dropping and dropping and dropping and Droppings more and more people get into Bitcoin and learn how to take control of Their own crypto and self-custody their Own crypto Um last two things I did see this Cardano aims to improve with their next Upgrade uh plutus uh they're going to Try to really get interoperability and Crossing development going right and This will definitely help their defy They're kind of we can Define right now D5 you know overall total liquidity Locked in only about 100 million which Is uh trailing the other chains Um but still they're growing they got DJ Going right and cross interoperability Will definitely help them bring more Liquidity and more dapps to them and Then lastly speaking of liquidity uh Maker Dao who is the maker of uh the die Token they're actually forking Ave and Coming out with their own liquidity Provider service
Um obviously because they want to Promote die more right so kind of Interesting that they're doing that okay I just want to share that regardless of What SEC does what Gary does Bitcoin or Crypto will continue to move forward so Stay strong my friends and I'll see you Guys tonight at my usual time 8 30 a.m Central Standard Time all right have a Good one bye
