THE SEC WAS REQUESTING TO FREEZE BINANCE U.S ASSETS

The SEC was requesting to freeze the assets of Binance U.S during this ongoing lawsuit that they have. The U.S judge has come out and said no sorry we're not going to do that for now. Kind of a win for Binance users if you do have money on any exchange, not just Binance you ask if you have money on any exchange, get your money off the exchanges and put it in your Hardware wallets. Stop messing around, that's very important, so definitely keep that in mind. The exchanges are marketplaces; this is something I'll need to remember. Exchanges are marketplace, they are not Banks. So, if you have money in Binance US and other exchanges. I like Kraken, it's a great Exchange right and they literally tell you that you shouldn't keep your money on their exchange.

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We have some very surprising things, what we are seeing with this Ripple case. The SEC is challenging the richest and most powerful companies in the cryptocurrency industry, the best connected companies in the cryptocurrency industry. Companies like Coinbase that are friends with senators and congressmen and do have powerful people on speed dial and they have the money to actually go and fight this stuff in court. Smaller companies like Library, Library credits if you guys ever heard of them. They're a file sharing website, kind of like YouTube but on the Blockchain essentially. They got sued by the SEC and they just didn't have the money to defend themselves. I think the Ripple team, they still want 200 million dollars or something like that on legal fees defending themselves against the SEC. Basically have a rogue Mafia like organization that's out there collecting fees, shaking people down and anybody who can't afford to pay the protection money goes out of business.

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I'm happy to see these companies fighting back against the SEC, I stand with all the companies that are fighting against the SEC. I'm not an xrp investor but I hope that Ripple wins their case. I don't use Coinbase but I hope that Coinbase wins their case. We need Clarity in the markets, we need regulatory Clarity, we really need lawmakers to step in and do something. Although, under the current Administration, we're probably not going to get a lot of things done because Biden would probably veto anything that comes across his desk.

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We're going to see major companies, major tech and major crypto companies, companies doing major Innovative stuff getting out of the U.S markets. As long as this kind of regulatory overreach is happening. The USA is going to lose, about a million web 3 jobs are going to go overseas. The amount of tax revenue is huge that they're going to lose. The United States had this moment where they could have been the leader of crypto and instead we have politicians beholden to banking or Bankers who are basically taking a very antagonistic approach. Where we see other countries the UK, France, United Arab Emirates, Singapore, Hong Kong, Brazil and many other places all innovating and welcoming these industries on their Shore.

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