A week full of news that in the end favored the market.
Hello friends, the most notable news of the week was undoubtedly the attack by the SEC on Binance and Kraken, which made the market shake a little but not as I thought. In the end, the US officials reached an agreement with Binance and the declaration of CZ's guilt with this guilty plea CZ has to pay 175 million dollars to be released on bail and Binance 4 billion US dollars in fine.
| But what was Binance notified about? |
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It is accused that Binance prioritized its profits over the safety of the American people. It is said that using new technology to break the law does not make you an innovator, it makes you a criminal. Well, what they are saying is that they preferred to advance in the market and grow rather than exhaustively control that they could not be used by terrorists, for example, okay, does this mean that Binance is more poorly managed on an economic level, no, but yes, they are going to have to pay. this fine.
If we add this to the fact that the SEC also attacks Kraken for operating as an exchange not registered under the SEC when we still do not know what are securities and what are commodities But Kraken is attacked on the same days as Binance and all this happens just before What a strange coincidence, before the bitcoin etfs are approved we see conspiranoid news,
May be. Black Rock is part of the economic and political power, with a volume of 10 trillion dollars and has a lot of force over the actions of the government. So what the government wants to say is we don't want Kraken, we don't want Binance, we don't want the outsiders, we want our own. So now if they approve the Bitcoin ETF, which probably, as I had said in previous posts, there is a great possibility that several EFTs will be approved in January.
So just before this happens they attack Binance they make the big theatrical performance they attack Kraken And they probably already approve the BlackRock ETF is this strange isn't it, or is it simply that the government wants its own In addition, there is also talk elsewhere that Coinbase could be the custodian of BlackRock with the ETF, this is something else.
After all this commotion, what has happened to the market prices? When logically we could think that the price was going down, quite the opposite has happened, the price of bitcoin has moved up. because? because this is already clearing the uncertainty that there was about what is going to happen with Binance, if Binance goes bankrupt the market will fall etc.
But what is clear is that we already see a way through which it is possible to invest because this Binance agreement with the United States government clears up the outlook a little or the future views and if we see the graphs everything looks good. wonders and we hope it continues like this until mid-January and waiting for the next halving to see what direction the market takes.
| Source of they information: |
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https://cointelegraph.com/news/us-officials-announce-binance-settlement
https://cointelegraph.com/news/coinbase-sec-action-kraken-crypto-rulemaking
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