Crypto News: ETH, ALGO, Tron, SEC, Fed Moves & MORE!

Foreign To the coin Bureau Weekly News Roundup Here are the top stories in crypto this Week Crypto Market chop BTC eth and other Altcoins trade sideways as Regulators Show their teeth and the banking crisis Continues to evolve what effects could This have on the market SEC versus Altcoins Sushi swap gets served Tron is Called a security and coinbase stops Algorand staking in the wake of a Wells Notice everything you need to know about The next wave of the crypto crackdowns Arrested terra's co-founder is finally Found by European authorities after Almost a year of being on the Run Foreshadowing similar captures to come Who else are the authorities chasing East Asian Advantage South Korea Taiwan And Hong Kong attract dozens of crypto Companies while the UK and Australia Start to follow the US's lead in pushing Them out when will they come around Fed raises rates Jerome Powell announces Another 25 basis point hike and dances Around questions related to blanket Insurance for all Bank deposits how long Will the FED keep raising interest rates And a look at the crypto verse Through The Eyes Of The One and Only Ben Cowan All this and More in just a moment Good morning afternoon or evening thank You for tuning in my name is Guy none of

What follows his financial advice and Here is the news Last week the crypto Market chopped Sideways After experiencing a massive Rally the week before the lackluster Price action seems to be due to a Combination of macro and crypto factors Which offset each other as well as Slowing momentum as investors assess Whether the recent crypto rally is Sustainable The macro factor in question is the Ongoing banking crisis which seems to be Spreading to Europe the recent collapse Of Swiss megabank Credit Suisse has led To concerns that other big European Banks could go under German Behemoth Deutsche Bank has so far Borne the brunt of insolvency Speculation It's possible that recent comments by U.S treasury secretary Janet Yellen Added fuel to the European fire This is because Janet implied that all Bank deposits in the United States were Insured this could have caused Europeans To move money to U.S banks knowing that Their deposits are safer in the USA if You watched our video about bank balance You'll know that deposit insurance is Only supposed to cover up to 250 000 per Account in the United States you'll also Know that in Europe This figure is just One hundred thousand Euros which is less

Than two hundred fifty thousand dollars And much less than Janet's unlimited Offer Regardless it's clear that the banking System is fragile and this fact has Served as Rocket Fuel for the crypto Market in recent weeks the problem is That this bullish macro factor is being Offset by a bearish crypto factor which Only seems to be getting worse and that Is the crypto Crackdown in the United States as some of you may have heard the Biden Administration recently released Its economic report for 2023. for the First time it included a section about Cryptocurrency and it was about as Negative as you'd expect We'll be doing an in-depth video about The crypto section of the economic Report later this week so stay tuned now Shortly after this report was released The SEC announced a series of Enforcement actions against crypto Companies and projects I'll come back to Those in a moment for now though I want To focus on the warning the SEC gave to U.S crypto investors on Friday because It seems to be significant The lengthy announcement included a Section warning U.S crypto investors That U.S cryptocurrency exchanges may Not be complying with Securities Regulations the SEC also warned that the Proof of reserves some exchanges have

Provided don't mean these exchanges are Solvent these aren't warnings either Because it looks like the SEC is Beginning to follow through with its Crypto Crackdown One of the crypto projects the SEC Pounced on last week was Sushi swap a Decentralized exchange which famously Tempted uni swap traders to move their Crypto liquidity using Sushi themed Tokens ah yes those were the days Now the Crackdown on Sushi swap is Significant because it's reportedly the First time the SEC has cracked down on a D5 protocol Unfortunately the exact details are Currently unknown as Sushi Swap and its Head chef also served are not legally Allowed to discuss the details of the Case just yet Considering that the SEC is involved There is a high chance that Sushi Swap And its head chef have been charged with Offering unregistered Securities on the Decks if this is the case then it could Set a dangerous precedent for other Dexes including uni swap Defy doesn't seem to be the sec's focus However if you watched our recent video About The Man Behind the crypto Crackdown you'll know that U.S Regulators have been explicitly Targeting any crypto projects and Companies providing payments Services

Seen as competitors to the fed's Upcoming fed now service which is Scheduled to be released in July It looks like this is why silvergate Bank and Signature Bank were taken down Both Banks had 24 7 transfer systems That they wanted to turn into payment Systems with both of these systems out Of the way it looks like the next Target Is stable coins and the sec's move Against Tron could be a step on that Very path For context Tron is a smart contract Cryptocurrency that's extremely popular For transferring tethers usdt as such You could argue it is a payment Network Now Tron was founded by Chinese Billionaire Justin Sun who the SEC has Accused of selling securities implying That the TRX coin is akin to a company Stock TRX tanked on the sec's accusation now This is strange considering that TRX Isn't available on U.S exchanges so it's Not at risk of being delisted there Trons non-us status also underscores the Possibility that the SEC is targeting Tron because of its status as a de facto Payment Network and Tron may not be the Only one shortly after the SEC informed Coinbase via a Wells notice that it Intends to sue the exchange coinbase Informed algorand that it would have to Wind down algo staking as per a tweet by

Algorand Foundation CEO Stacy Warden This has led to speculation that the SEC Might also consider algo to be a Security Now to be fair the SEC literally thinks That every single cryptocurrency besides BTC is a security so this speculation is Not unique to algo in any way even so The fact that algorand was positioning Itself as the ideal blockchain for Central Bank digital currencies or cbdcs Could have created additional risk It's a similar story with terror's UST Stablecoin when it first collapsed there Was lots of speculation that UST was Taken down because it was challenging The US dollar A decentralized stablecoin pegged to the US dollar and backed by billions of Dollars of Bitcoin is an effective way To upset the United States Like many things in crypto though The Narrative of Terror being taken down Because it challenged the status quo Quickly changed when Terra co-founder do Quan decided to run and hide rather than Reveal the truths he claimed to have About terrorist collapse it became Evident that he may have been involved There has of course been no shortage of Accusations against doe since that time And it looks like we're finally going to Find out what really happened to Terror That's because doe was arrested in the

Balkan country of Montenegro shortly After trying to board a flight using Falsified documents a very very dumb Move the moment that U.S authorities got Word they decided to slap some Additional fraud charges on doe Obviously the U.S government is itching For him to be extradited as is the South Korean government For now though doe is stuck in Montenegro and is trying to get out of Prison so he can run away again This begs the question of why the Authorities want dough so badly if the Arrest of Sam bankman freed is anything To go by the answer could be information Take a second to consider that Terra had Intimate interactions with most major Crypto projects and exchanges just like FTX and Alameda research the difference Between SPF and doe is that SBF appears To have been a part of an elaborate Operation to get Insider information About the crypto industry to prepare for The current crypto Crackdown Doe probably wasn't part of any such Operation which could mean he has even More Insider information now I must Admit that this is all speculation but It is baffling that Doe is getting such Different treatment to all the crypto Criminals we've seen during this Market Cycle so far There are crypto criminals that we all

Know are guilty of wrongdoing who are Walking free with little to no scrutiny Not naming names of course One can't help but wonder if there's More to the story but I suppose the Ending will be the same for all of them As a fun fact career criminals always Reoffend no matter what punishments you Threaten them with so it's only a matter Of time before all those crypto Criminals are caught and good riddance In the meantime I suggest keeping your Crypto safe and sound from these Unsavory types by acquiring a hardware Wallet you can use the deals page in the Description to get a discount I'll also Leave a link to my Tresor wallet Tutorial in the description too so that You know exactly what to expect In any case it's a relief to see that Terror's collapse hasn't completely Turned Asia off crypto for reference Terror was a South Korean crypto project As it so happens South Korea is Scheduled to consider new crypto Regulations tomorrow according to a Korean news site called money today as Reported by coinku South Korea has more Than three dozen crypto related bills in The works and is hoping to have most of Them passed by the end of the year Naturally most of these crypto bills Focus on things like investor protection And disclosures but some of them seek to

Legalize icos and ieos Elsewhere Taiwan is working with a Similar timeline for its own pro-crypto Regulations Taiwanese authorities are Hoping to have a crypto framework set up By the end of April the regulator that's Been chosen to oversee the crypto Industry in Taiwan has already said that Nfts won't be scrutinized not Surprisingly the crypto industry has Welcomed the announcement with open arms That might have something to do with the Fact that crypto companies will Reportedly be working closely with the Regulator to shape crypto regulations in The country in short they're guaranteed To be good Hong Kong is already one step ahead Having announced that it plans to start Legalizing crypto this summer lo and Behold over 80 crypto companies and Counting have expressed interest in Expanding their operations to the Special administrative region of China What's crazy is that the Chinese Government has reportedly signed off on Hong Kong's plans to legalize crypto This could mean that there's billions of Dollars itching to be invested in the Crypto Market through Hong Kong from High net worth Chinese Nationals we will Find out come the summer now what's even Crazier is that even Australian crypto Exchanges are considering moving to Hong

Kong this might have something to do With the Australian government's Decision to force banks in the country To disclose their ties to the crypto Industry following the collapse of those Two crypto banks in the United States And another country that's been Following in the footsteps of the United States in its crypto banking scrutiny is The UK where a trade Association is Calling on Regulators to explain why They're cutting the entire crypto Industry off from banking instead of Going on a case-by-case basis from where I'm standing the answer is obvious the UK is rushing to roll out its digital Pound before its physical currency Collapses and it doesn't want any Competition for from crypto if you're Wondering how soon cbdc's will come to Your country be sure to check out our Recent update in the description now Before I let Ben Karen Take the Wheel There's one more thing I have to cover And that's the fed's recent rate hike As I mentioned earlier the FED raised Interest rates by another 25 basis Points bringing the federal funds rate Between 4.75 and 5 percent This was expected so it didn't really Impact crypto prices what was not Expected however was that the FED Officials foresaw interest rates being Above 5 at the end of the year despite

The recent banking crisis this somehow Didn't affect the markets which is Surprising given that investors are Pricing in a substantial decline in Interest rates by the end of the year This could be because investors don't Believe the FED will be capable of Sticking to its guns as the economy Starts to contract for those unfamiliar It takes about one year for rate hikes To impact the economy well it's been one Year since the FED started raising rates So the impact is about to start What's funny is that investors were Expecting borrowers to be the first to Buckle under high interest rates but it Looks like the lenders got the short end Of the stick this means the banks Especially the small and medium-sized Banks which issue something like 80 Percent of all commercial real estate Loans are most at risk right now we're Seeing large amounts of money move from Small and medium-sized Banks to Big Banks the FED can prevent this from Becoming a problem through its recently Introduced facility which lets small and Medium-sized Banks borrow against their Commercial real estate loans at full Value If you watched yesterday's video about The banking crisis you'll know that These small and medium-sized banks will Be fine so long as they aren't forced to

Sell these commercial real estate loans To honor customer withdrawals the fed's Facility lets them borrow instead of Sell hence the prevention effect however The next step of the crisis will be the Credit crunch where over 400 billion Dollars of commercial real estate loans Are refinanced at higher rates that Can't be afforded by Borrowers It's believed that the FED will have no Other choice but to buy up these loans To prevent a bigger crisis the Simultaneous consolidation of the Banking system into larger banks will Make it easier to manage a cbdc system But I suppose that's just more Speculation on my part And with that I shall leave you for a Moment in the capable hands of Mr Ben Karen Ben the floor is yours hey guys Thanks for having me a pleasure to be Here as always today I wanted to take a Brief look at the Huddle waves or total Waves if you prefer and to get a sense As to what long-term holders and Short-term holders are doing for both Bitcoin and ethereum and then after that Look at the the Blue Chip dominance so The Bitcoin and ethereum dominance which I think is an important metric to look At as well so this chart here shows of Course the price of Bitcoin and overlaid Our short-term holders which is defined As anyone who's been holding Bitcoin for

Less than six months now one of the Things that we might notice is that when Bitcoin goes into these parabolic Rallies you will see the total Percentage of short-term holders go up Quite a bit and then they sort of then It comes down quite quickly into the Bear mark market and sort of the Recovery phase you can see right now That despite the relatively impressive Move by Bitcoin there has not really Been a noticeable increase in short-term Holders showing that this price action Has not been enough to really bring the Tourists back into the cryptoverse if we Flip this around and look at long-term Holders rather than short-term holders You'll also see that during recovery Periods the long-term holders will sort Of just plateau and then it goes down Quickly into a bull run Again here in in 2019 2020 right a Plateau and then it went down quickly Into sort of a Mania phase but so far All we're really seeing are our Long-term holders this is more or less Still plateaued nothing too out of the Ordinary if you look at the same thing For ethereum you'll see a very similar Trend during this is first showing Short-term holders so the hotaways for Short-term holders and what you'll Notice is that into these Mania phases Um you know you'll hear at least into

The Mania phase we saw it sort of going Up into the mini phase and then it came Back down into the bear Market sort of Plateaued a little bit and not in terms Of going up to a certain level but just Kind of coming back down to a level and Staying there for quite a long period of Time then it finally started to go back Up during the next Bull Run so far we've Seen just another phase of of this over Here right like the 2018 2019-2020 phase Rather than what we saw at least in late 2020 and early 2021. now one of the Things that I think it's important to do Of course to talk about the Bitcoin Dominance quite quite frequently because I do think it's an important metric to Track to really understand where we are In sort of the in the market cycle of Crypto But something else that we can look at Is the Blue Chip dominance which is the The dominance of both Bitcoin and Ethereum and we're sort of coming up to An important level here because you can See that we haven't really seen the Blue Chip dominance again of Bitcoin and Ethereum reach this High really since August of 2021 when it went up to about 67.26 at its high right now you can see That we've actually gotten pretty close Last week we went up to about 67.03 percent so what what I'm looking For is to see if the Blue Chip dominance

Can actually break out of this now if it Does it'll be more likely because Bitcoin dominance is going up quickly But this is something that I think we Should look at you can see that there is A phase back over here where the Blue Chip dominant sort of finally broke out And then continue to climb on back up so We might even think about sort of the Ebb and flow of the cryptoverse as the Blue Chip dominance being at high levels And when it's at these higher levels Let's say 85 percent it tends to have a Habit of coming down to lower levels at Around you know 55 or so but when we Find ourselves back at those levels it Seems inevitable before we go back up And and come back up to these 85 percent Level or so and then we've come back Down sort of the same levels that we saw Once upon a time and I guess the Argument is is the Blue Chip dominance Again the Bitcoin and ethereum Dominus Isn't heading back up and and ultimately To much higher much higher dominance Levels which I do think would represent A much healthier outlook for the Cryptoverse Um because of course during you know we Want to make sure that the projects that Are are providing the most value to the Space are are are theoretically Retaining the highest highest dominance But again thanks for having me pleasure

To be here as always and I look forward Again seeing you next week Thank you Ben and Ben will be hosting Our weekly live stream on his channel This Thursday kickoff 9 A.M Eastern Time 5 p.m golf time come and join us if you Can And that is all for today's coin Bureau Weekly crypto review so if you enjoyed It you'll know what to do hit that like Button subscribe button and Bell icon Too If you're looking to help those gains Grow then the coin Bureau deals page is Where you should go there are thousands Of dollars in bonuses trading discounts And products to help you trade like a Pro you can find the link to that Resource and many others in the Description below thank you so much for Watching and I will see you all in next Week's episode Foreign


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