Crypto News: BTC Dump, SEC vs. Consensys,, NVIDIA & MORE!

Welcome to the coin Bureau Weekly News Roundup here are the top stories in Crypto this [Music] Week government dumps BTC Germany sells Hundreds of Millions worth of BTC Contributing to its price decline when Will the selling stop SEC versus Consensus the anti- crypto regulator Reportedly drops its investigations into Whether eth is a security Why it may not be over just yet cftc Versus jump the pro crypto regulator Reportedly probes one of crypto's Largest and most important companies Could salana projects be in trouble gold Backed stable coin Tyler launches a new Defi protocol that makes it possible to Min digital dollars backed by digital Gold how it could shake up the financial System debt bubble wobble Bond investors Anxiously await the upcoming snap Elections in the UK and France what does It mean for crypto Nvidia tops out the World's largest stock Falls from Grace As its price corrects foreshadowing a Crash in major stock market indices Everything you need to know and a closer Look at last week's top performing Cryptos and where they could be headed Next all this and More in just a Moment good morning afternoon or evening Thank you for tuning in my name is Jessica and what you're about to see is

Educational content not Financial advice You can find any of the topics you're Looking for using the timestamps in the Video timeline guy is a way for the week But he'll be back next week and now for Today's top Stories last week BTC continued its Steady decline this decline has been Caused by a combination of factors Including continued selling by Bitcoin Miners and ongoing net outflows from the Spot Bitcoin ETFs now another Factor has Entered the chat the German government Offloading its enormous BTC Holdings as Some of you may have heard onchain Analysis suggests that the German Government moved roughly 6,500 BTC worth Over $425 million to multiple wallets Some of this BTC was subsequently sent To exchanges presumably to sell the rest Was sent to unlabeled wallets presumably OTC buyers this begs the question of how Much BTC the German government plans on Selling the answer is nobody knows but The bigger question is why now it's safe To assume that the German government Would only sell when the Price Is Right In other words when it thinks BTC won't Go much higher in the short term However The fact that it still holds over 40 3,000 BTC worth almost $3 billion Suggests that it does think BTC will go Higher in the long term the catch in This case is that it means the German

Government could start dumping the rest Of its BTC the next time it starts to See a rally it's not just the German Government either some of you will know That the US government holds roughly 164,000 BTC worth over1 billion US and It moved $2 billion of this BDC earlier This year last year the US government Has announced it would gradually be Selling all of this BTC now the Silver Lining is that btc's Price has been surprisingly resilient Despite the sell pressure not only that But the selling pressure coming from Governments Bitcoin Miners and other Parties is only a problem when it isn't As much or more demand and they're Likely will be more over the long term As such this selling could be seen as a Short-term problem and most would argue It's not even a problem just a speed Bump on btc's road to the Moon if you Need proof look no further than the Weekly chart BTC appears to be ready to Bounce from the Ballinger band moving Average if you want to make the most of This potential recovery rally then check Out the coin buau deals page it's got Trade PID in fee discounts of up to 60% And sign up bonuses of up to $60,000 on some of the best exchanges These deals are only available for Viewers of the coin bu Channel and won't Be around for long so take advantage of

Them ASAP by using the link in the Description while you're at it smash That like button to give the video a Boost And subscribe to the channel and Ping that notification Bell so you don't Miss the next one now whereas the German Government selling B is mostly fud it's Possible that the sec's recent decision To drop an investigation into consensus Is mostly fero that's because the SEC Stated that it had ended its Investigation into consensus regarding Ethereum 2.0 I.E proof of stake per Consensus' own announcement and I quote The enforcement division of the SEC has Notified us that it's closing its Investigation into ethereum 2.0 this means the SEC will not bring Charges alleging the sales of eth are Security Transactions this is certainly good news But it may not be the full story besides The fact that the SEC could still be Investigating consensus for things Related to ethereum before it Transitioned to proof of stake not all Eth sales are created equal you will Know this if you've been keeping up with The sec's ongoing case against Ripple And its Executives namely last year's Big ruling to refresh your memory the Judge in that case had ruled that Secondary sales of xrp I.E sales on Crypto exchanges did not constitute

Security offerings however the judge Rulle that sales of xrp Ripple had made Directly to investors were security Offerings hence why the case is still Ongoing this is significant because Consent did not specify which eth sales The SEC won't be investigating given the Ruling in the ripples case it is likely The E sales on exchanges are not Securities however the SEC could still Be investigating consensus sales of eth To investors if there were any this ties Into what I mentioned a few moments ago And that is that consensus specified the SEC had ended its investigation into Ethereum 2.0 again there could still be Ongoing investigations related to proof Of work ethereum an era during which Consensus could very well have sold eth To investors as we stress in our video About whether eth is a security it's not A lawsuit against consensus that matters It's the contents if the SEC follows Through with a lawsuit related to Consensuses proof of work era activities It could contain details that spook eth Investors this is the Black Swan to Watch out for fortunately an SEC lawsuit Against consensus is looking less and Less likely by the day particularly Because crypto has become so politicized In addition the spot ethereum ETFs could Be approved as soon as this week which Certainly could be a bullish Tailwind

For E despite the bearish backdrop on That note it looks like Regulators are Scrutinizing sana's ecosystem too this Is because the cftc is reportedly Probing jump crypto a Wall Street firm That's closely affiliated with salana it Funded many of its projects and Competitors and is even building sana's Most important Infrastructure just to put things into Perspective jump crypto is building Sal's fire dancer validator client jump Crypto built Wormhole the cross-chain Bridge that's become the standard for The largest crypto projects jump crypto Built pith Network the high performance Oracle which is also becoming the Standard in crypto as a cherry on top Jump crypto has also invested in all of The salana killers Aptos sui and say not Surprisingly Regulators are starting to Wonder just how involved jump crypto is In these crypto projects if you watched Our recent salana update you know that We predicted this scrutiny would come The details haven't been revealed but we Suspect the pith Network Oracle is just Part of it for those who don't know pith Network provides data fees directly to Salana but provides data feed indirectly To other crypto projects via the Wormhole bridge this puts other crypto Projects at an inherent disadvantage as There is always a lag in their data

Feeds compared to those on Sal This could be a bug but it also could be A feature that's explicitly intended to Give salana an unfair advantage over its Competitors This would run a foot of the US antitrust laws which Target unfair Competition then again it's not entirely Clear if these laws would even apply to Crypto projects in any case what is Clear is that jump crypto is in deep Trouble and sana's ecosystem could be in Trouble by extension as mentioned Earlier the cftc is perceived to be a Pro crypto regulator the fact that it's Going after jump crypto therefore Suggests that there is a very good Reason why the direct consequence of Salana could be delays or even Cancellations of its fire dancer client Which was scheduled to be released later This year notably the launch of fire Dancer was going to Mark the end of Sana's beta phase and also supercharge Its blockchain Scalability this means that any issues Around fire dancer because of the cftc's Investigation into jump crypto could be Very bearish for soul for what is worth The Fallout would probably present one Of the last good opportunities for Buying before the crypto bull market Goes into overdrive not Financial Advice now speaking of regulatory Scrutiny another entity that attracted

The Wrath Of The Regulators is tether The issuer of the usdt stable coin this Is simply because the crypto Behemoth is Responsible for creating billions of Deao digital dollars that have become The backbone for most of the crypto Industry the good news is that tether Has made peace with us Regulators by Working closely with enforcement Authorities to ensure that there is no Nefarious activity happening with usdt The bad news is that tether's recent Innovation could draw ear from other Powerful Financial interests in the US And also Elsewhere in case you miss the memo Tether has released a defi protocol Called alloy which makes it possible for People to Mint a dollar pegged a usdt Stable coin using tether's gold-backed Xut as collateral the result is Something that resembles the gold Standard which the US infamously Abandoned in 1971 it goes without saying that the Significance of this cannot be Understated tether has literally Recreated the financial primitive that Restricts the power of central banks and Resulted in decades of prosperity that Still echo to this day it's safe to say That certain Financial interests will Not be happy about this for context it's Generally believed that the reason why

The us or orchestrated the downfall of Libyan leader Gaddafi was because he was Explicitly trying to unite all African Countries and create a panafrican Currency backed by gold called the Dina Obviously this would weaken the US Dollar to be fair tether's alloy is a Little different because a usdt is paid To the US dollar many have also argued That the US authorities tether is Working with would have prevented the Platform from launching if they really Had a problem with it but there's Probably a reason it hasn't been done Already then again it is possible that Tether is just the first of many to Launch a goldback USD stable coin if This is the case then crypto could Succeed in bringing back the gold Standard if enough people adopt these Protocols the caveat is that we need to Make sure these Protocols are truly Decentralized it's also a good idea IDE That the gold backing it all can be Independently verified but that's a Topic for another time but back to the Current Financial system the primary Consequence of going off the gold Standard is that it makes it possible For governments to borrow more than they Could possibly afford to pay back and For central banks to print as much money As required to ensure governments don't Default on these debts the result is an

Estimated $313 trillion of collective government Debt which is growing exponentially by The second for those unfamiliar the way Governments borrow is by issuing bonds Pieces of paper containing a promise to Repay the lender with interest at some Future date not surprisingly Bond Holders are starting to realize that the Money they're going to be repaid in the Future will be worth a lot less in real Terms because of the inflation that's Likely to happen between now and then or More accurately because of all of the Government spending that will happen Until then the result in this case is The return of the so-called Bond Vigilantes which we'll be doing a video About soon the tldr is that Bond holders Are starting to get frustrated with all Of the government spending and they Appear to be protesting by selling or Threatening to sell government bonds This would cause long-term interest Rates to go higher because bond yields Influence long-term interest rates and Bond yields are determined by the price Of the bond selling bonds causes lower Bond prices and lower bond prices result In higher yields which result in higher Interest rates capish kapash in all Seriousness the Bond vigilantes appear To be huffing and puffing about the Possibility that the far right will win

France's up up coming snap elections This is interesting because it suggests The Bond vigilantes are politically Motivated something will be discussing In that upcoming video be sure you're Subscribed and ping that notification Bell so you don't miss it now you may Recall that the Bond vigilantes are the Ones that forc the former prime minister Of the UK Liz truss to resign the tldr Is that she was proposed an aggressive Spending plan with equally aggressive Tax cuts meaning that the UK government Would have to borrow a lot more AKA Print more money the Bond vigilantes Protested by moving the markets the UK Pension system imploded and Liz resigned Believe it or not but some investors are Worried that the Bond vigilantes could Come back for round two after the UK's Upcoming snap elections it does seem That all of this depends on who wins Regardless the key takeaway here is that There could be quite a bit of volatility In the markets over the next couple of Weeks and not just in the bond market as All of you will know Nvidia briefly Became the most valuable company in the World last week as some of you may have Noticed it no longer occupies this Position that's because its price Plummeted towards the end of the week And it appears to have overrun a long Overdue correction this could have a

Profound impact on major stock market Indices such as the S&P 500 because Nvidia is one of the largest allocations Case in point Nvidia already seems to be Dragging down the S&P and this could Accelerate as the stock buyback blackout Period becomes even darker FYI it's Believed that a significant amount of Stock market gains are due to the Massive stock BuyBacks that many Companies do In the weeks leading up to earnings most Companies sto buying back their stocks Because of rules around Market Manipulation leading up to the earnings Release take a second to consider that The last stock buyback blackout period Was in April this happens to correspond To the last stock market correction a Correction which took BDC below 60k of course BTC is starting from a Lower price point this time meaning it Could go much lower if history repeats Funny enough the geopolitical backdrop Also seems to be similar to what we saw Back in April to recap Israel and Iran Were shooting missiles at each other Leading to fears that the ongoing Gaza War would escalate thankfully it didn't Happen but it looks like escalation is Back on the menu there are numerous Reports suggesting that Israel and Iran Back has Bo ANS in Lebanon are preparing For a much larger conflict the fact that

Oil prices have been rising over the Last couple of weeks suggests that these Threats are real never mind the Breakdown in political Negotiations when you add European bond Market volatility into the mix it looks Like the markets are going to be very Volatile over the next few weeks with Some luck though the upcoming debate Between President Biden and Donald Trump Will result in some Pro crypto sound Bites that could pump up the markets we Are truly living in crazy times anyways With all that said it's about time we Turn to last week's top performing Cryptos last week's top performing Cryptos were pendo Finance Tron leof Finance and ethereum name Service starting with Pendle Finance It's pendel token a appears to have Permed due to the addition of liquid Reaking tokens to the yield farming Protocol Pendle is painting A peculiar Pattern that looks like an ascending Triangle and a double top at the same Time this is peculiar because ascending Triangles are bullish but double tops Are bearish for what is worth it looks Like Pendle will fall to around $5 Before deciding where it wants to go Next next up we have have Tron whose TRX Coin appears to have pumped due to Tron's upcoming 6year anniversary trx's Price pattern is even more peculiar than

Pendle it's been slowly grinding up and To the right since the spring of 2020 as Far as we can tell the recent pattern Seems to be a topping pattern of some Kind but it doesn't look like TRX will Fall too far 10 cents seems to look like The next logical stop as for Leo Finance Its ldo token appears to have pumped due To the news that the SEC is no longer Scrutinizing ethereum 2.0 obviously this Is bullish for Leo as it's a liquid Stak In protocol for eth but alas ldo Continues its slow pump and dump pattern Which has likely left most ldo holders Frustrated as it's basically been Trading sideways for two years when it Comes to it's fcoin appears to Have pumped due to the news that Nvidia Had become the largest company by market Cap like Nvidia fat has already started Correcting and could fall as low as 75 Cents in the coming days be careful Finally we have ethereum name service Whose ens token appears to have pumped Due to the upcoming launch of ens V2 you Can find more info about that in the Description like Pendle ens is painting A peculiar pattern that looks almost Like a double top even if it is 's Recent history suggests that it could Keep chopping around this range before Moving lower likely back to the $15 Level if you want to keep track of which Cryptos are pumping and also where you

Can trade them be sure to join the coin Bureau Insider telegram channel the link Will be down in the Description and that's all for today's Coin bu weekly crypto review if you Enjoyed it then you know what to do hit That like button subscribe button and Bell icon too don't forget to check out Our deals page where we have massive Trading fee discounts and sign up Bonuses of up to $60,000 on some of the best exchanges Only for the viewers of this channel Also if you do want to pick up some Snazzy crypto merch the coin bu merch Store has you covered you can find the Link to any of those resources and many Others in the description below thank Thank you so much for watching and we'll See you all in next week's episode [Music]


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