GRAY.base.eth

@graymmo

468 Following

102 Followers

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I'm looking for 5 Carrots on /farville 🧑‍🌾

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Hey you Follow back 👀

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we need more followers for future airdrop chance follow me i will follow you back

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October 2023 vs October 2024 In October 2023, Bitcoin dropped 7% in the first week and then pumped hard. Now, in October 2024, Bitcoin is down 6.5% in the first 4 days. Last year was a real "Uptober", this year, time will tell

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According to a survey from financial firm Empower, 50% of Americans believe the outcome of the 2024 presidential election will directly impact their personal finances. About a quarter (24%) said the winner of the election will help determine “whether I’m rich or not” 🤣… too many HOLDERS🙈

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SEC vs Ripple Updates We assume that the SEC appeals the ruling that XRP is not a security, but the specifics are not yet available. It is also possible that the SEC is appealing because the $125 million Ripple fine is too low, in which case it will not affect the XRP token. However, we will need more details to confirm.

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In addition to the Iran and Israel news, there is a major strike going on at ports along the East and Gulf coasts in the United States this morning, with over 45K dockworkers on strike, affecting 36 ports over wages and automation. Will this affect the market? It depends on how long the strike lasts. A prolonged strike could push up prices for food, cars, and a host of other consumer goods, which could cause inflation and affect the Fed's interest rate decision. However, the current estimate is that the strike will not have a major impact. Additionally, President Joe Biden, under the authority granted by the Taft-Hartley Act, could step in and order an 80-day "cooling off" period, which would at least temporarily halt the strike.

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Fed Chairman Jerome Powell said that the recent 0.5% rate cut should not be seen as a sign that further cuts are on the way. Instead, the key interest rate will gradually move toward a more neutral position over time. However, we are not following any previously defined program. After the Fed's statement, the CME Futures market now favors a 0.25% cut (57.9%) in November, rather than a 0.5% cut (42.1%).

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How Bitcoin Redefines Money and How We Invest It? Interestingly, after investing in Bitcoin, many people automatically become interested and learn more about global economic and financial issues, and especially the crypto market. They learn to track macroeconomic factors such as inflation, monetary policy, and the impact of central banks. This is a natural learning process that does not require anyone to force them, because the fascination and curiosity will come naturally as they immerse themselves in the world of Bitcoin.

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Ripple vs. SEC Update This morning, Eleanor Terrett (Fox Business News) reported that a former SEC attorney who recently left the agency said that the SEC will “likely” appeal the ruling that XRP sales on exchanges are not securities. The SEC has until October 7 to file an appeal. Note that we have not heard from any official sources, all of this is hearsay, and the SEC filing an appeal is risky because Judge Torres’ ruling is currently an isolated ruling, and other judges are not required to agree or follow it. However, if they appeal and lose, the ruling will be binding on all judges in the lower court. In addition, Grayscale recently reopened the XRP Trust without waiting for the appeal date, so they may already know something.

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BlackRock continues to buy BTC ETFs for its Global Allocation Fund, now owning 198K (~$7.4M) shares of IBIT as of July 31. This is an increase from the 43K shares (~$1.6M) reported in June. This is still a small allocation, but it is growing, and BTC is shaping up as a long-term asset that BlackRock will continue to add to over time, and may be added to more funds in the future.

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Rep. 🇺🇸 Tom Emmer: In an era where bipartisanship can be scarce, Gensler has done such a poor job running the SEC that he has united members on both sides of the aisle to condemn his failed leadership.

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Visa is launching a platform for banks to issue fiat-backed tokens on Ethereum, making it easier to tokenize real assets (RWAs) such as commodities and bonds. Spanish bank BBVA will be among the first to test the platform, with a pilot program scheduled for 2025.

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Türkiye has decided not to proceed with an additional tax package that would impose taxes on profits from stock and crypto trading, Turkish Vice President Cevdet Yilmaz said.

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China and Australia UPDATE Chinese shares rose sharply as the People's Bank of China announced a series of policy easing measures at a press conference. The People's Bank of China said it would cut the reserve requirement ratio for banks by 0.5 percentage points and would also cut the seven-day reverse repo rate to 1.5% from 1.7%. (The reserve requirement ratio is the percentage of deposits that banks must hold as reserves and not lend out, while the reverse repo rate is the interest that commercial banks must pay the central bank when they borrow money.) Australia's central bank will also announce its interest rate decision tomorrow, with economists polled by Reuters predicting the Reserve Bank of Australia (RBA) will keep its cash rate unchanged at 4.35%.

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Vice President Harris spoke about crypto for the first time today as a Democratic presidential candidate: “We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors.” We need more details on her intentions, but this is a positive sign.

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