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NFL Player Tom Brady: I Really Believe in Bitcoin

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Bitcoin is continuing to suffer as of late. The world’s number one digital currency by market cap has fallen into the darkest realms of the financial space and has lost about $30,000 from its previous all-time high of roughly $64,000, which it achieved in mid-April. Nevertheless, there are many people that stand by the asset, including NFL player Tom Brady.

Tom Brady Sure Likes His Crypto

In a recent interview, the star quarterback – formerly of the New England Patriots – explained that he was looking at cryptocurrency and that he was going to be a long-term investor despite the recent state of the industry. He acknowledged that cryptocurrency was a “marathon” of sorts, but that he was intrigued by all that bitcoin had to offer.

Brady commented:

In this space of crypto, I am still learning so much. It is something I am going to be in for a long time. It is definitely a marathon.

Not long ago, Brady garnered attention for himself after he changed his Twitter profile pic to one that featured laser eyes, something that many crypto advocates and traders have been known to do in recent months. The image of laser eyes suggests that the person using the picture believes bitcoin will eventually reach a six-figure price of at least $100,000, and thus many crypto advocates later took to social media to suggest there was a new BTC believer in the sports world.

Responding to the attention he garnered, Brady responded with:

I have been following that community for a while on Twitter. Someone has called me out to change my profile picture and use the laser eyes. In my understanding, it was really a vote of confidence to really get into the conversation as I am such a big believer in crypto and where things are headed in the world. I am listening to everybody, and I am excited to continue to learn.

It’s a Heavy Topic for Everyone On the Team

Now playing for the Tampa Bay Buccaneers, Brady says that bitcoin has become a serious topic of conversation amongst his fellow players and coaches. This is what initially got him involved, and he has since grown to respect the industry greatly. He says:

One of my quarterback coaches has been on it for eight or nine months, so we talk about it basically every day. The prices of the different tokens, how the space is doing, so it is something that is on all our minds. We are very interested. We are learning more and more about these emerging markets. I am a big believer in it. I do not think it is going anywhere. I think absolutely there is going to be volatility, but at the same time, knowing when there is a lot of change and disruption in the markets, there are a lot of people that will fight that.

Tags: bitcoin, NFL, Tom Brady Source: https://www.livebitcoinnews.com/nfl-player-tom-brady-i-really-believe-in-bitcoin/

Blockchain

SEC chief Gensler now eyeing crypto staking and ‘poker chip’ stablecoins

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In recent weeks, the U.S. Securities and Exchange Commission [SEC] has brought several crypto companies into the regulatory spotlight. Coinbase was warned about its high-interest crypto-product Lend, with the SEC threatening to sue if it launched.

Unsiwap also felt the heat as it was reportedly investigated. Meanwhile, the SEC vs Ripple lawsuit saw the court denying Ripple’s request for documents revealing SEC’s trading policies on digital assets.

Even as these events unfolded, SEC Chair Gary Gensler spoke to Washington Post journalist David Ignatius about cryptocurrency and the SEC’s powers.

Cop on the beat

Gensler first stressed that crypto tokens were a “highly speculative asset class” and defended his dedication to investor and consumer protection. He admitted that the SEC had a broad definition of securities and that it gave the agency a “great deal of authority.”

Encouraging crypto trading platforms to come in for SEC registration, Gensler said,

“Now, not many have, and so I do really fear that we’ll keep bringing these enforcement cases, but there’s going to be a problem. There’s going to be a problem on lending platforms or trading platforms. And frankly, when that happens, I think a lot of people are going to get hurt.”

Gensler also voiced concerns about staking and added,

“We’ll also be the cop on the beat and bringing those enforcement actions, as well.”

Coming to stablecoins, Gensler used his familiar crypto-Wild West comparison and likened stablecoins to poker chips at the casino. He also explained that though the SEC had “robust authorities,” there were some gaps. He hinted the agency might work with the U.S. Congress to regulate stablecoins.

Notes on Evergrande

With liabilities worth around $300 billion, the crisis of Evergrande, China’s second largest property developer, has shocked the world market – and the crypto sector. Soon the Hong Kong-based, dollar-pegged stablecoin Tether [USDT] came under scrutiny. The company had to confirm that it did not hold commercial papers, debts, or securities issued by Evergrande.

Ignatius also asked Gensler whether Evergrande could affect the American market. Gensler just confirmed that Evergrande was not registered and did not trade on American capital markets.

However, he added,

“…it is possible, from time to time, that we too in America will react to other economies’ and nations’ shocks. And particularly China’s economy is so large relative to Europe’s or our own.”

In essence, the interview came with a familiar promise for crypto innovators and traders. Referring to warning signs and flashing lights signaling a spill in aisle three, Gensler said he would rather “get ahead of it.”

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Source: https://ambcrypto.com/sec-chief-gensler-now-eyeing-crypto-staking-and-poker-chip-stablecoins

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Robinhood to Launch Crypto Wallet in 2022

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/robinhood-to-launch-crypto-wallet-in-2022/?utm_source=main_feed&utm_medium=rss

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Blockchain

Denied: Ripple’s request for documents on SEC’s ‘trading policies governing digital assets’

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In what seems like an apparent win for the United States Securities and Exchange Commission [SEC], Ripple‘s request for documents detailing the watchdogs’ “trading policies governing digital assets” has been denied by Judge Sarah Netburn.

As per the ruling provided by attorney James K. Filan, the US magistrate judge declined to grant the defendants access to documents that would prove whether SEC employees were carrying out transactions in Bitcoin, Ether, or XRP, as it was more likely to “cause confusion” than provide any relevant findings.

The regulator had previously been ordered by the court to present its crypto trading policies, leading to the revelation that none existed at the time that it began investigating Ripple. The crypto firm in turn contended that when its representatives had met with the SEC counsel last month, the latter had stated that since formal investigation against Ripple began in 2019, SEC employees were barred from trading in XRP.

Although, any formal documentary evidence backing up this claim is yet to be produced by the regulator despite being compelled by the court, according to Ripple’s claims. Additionally, Judge Netburn’s analysis in the denied motion summarized the firm’s request as,

“Defendants argue that individual trading decisions will, at a minimum, expose the lack of
clarity regarding XRP’s status and whether the SEC believed XRP to be a security. Such
evidence arguably would undermine the SEC’s allegations that the Individual Defendants acted recklessly and would bolster the Defendants’ fair notice defense.”

However, Netburn does not believe such an argument to be pertinent to the case, as the motion added that,

“Defendants have not shown that such individual trading decisions bear on the issues in this case. Although the SEC’s policies (or absence of policies) may provide relevant evidence related to fair notice or recklessness, how an Ethics Counsel viewed a trading decision is more likely to cause confusion or create collateral litigation disputes.”

In addition to this, Netburn also noted that SEC employees’ financial conduct disclosures are protected under the Privacy Act, and Ripple is yet to provide proof that suspending these statutory protections would make a material difference to the case.

In his tweet regarding the recent decision, Attorney, James K. Filan, also noted that,

“The Court directed the SEC to provide Defendants any documentation supporting SEC counsel’s statement during the August 25, 2021 meet and confer that, after the formal order of investigation was issued as to Ripple on March 9, 2019, SEC employees could no longer trade XRP.”

While the SEC’s individual trading records might be out of bounds for Ripple now, this recent motion reaffirmed that the watchdog still has to provide documentation that would prove its claims that agency employees were barred from trading XRP in 2019. Even as this fight has been won by the SEC, the war between the two is far from being over.

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Source: https://ambcrypto.com/denied-ripples-request-for-documents-on-secs-trading-policies-governing-digital-assets

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