Tag Archives: cryptocurrency

The Nervous Investor! Awaiting Word On SEC v. Ripple

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I’m sure many of us are biting our nails as we await a ruling on the SEC v. Ripple case. If you are anything like me, your nights are no longer used for sleeping. I am a nervous wreck! Hopefully, Ripple wins the case, and XRP picks up where it left off before getting delisted. I do not want to make speculations about the price because, in crypto, you never know.

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I have learned to hope for the best and mentally prepare for reality! In crypto, it’s best not to get your hopes up because when a token misses the target, it causes people to freak out. After ETH merged, some people thought it would help to bring the price back up. It was holding around $1500.00 until the SEC stated that ETH falls under US jurisdiction.

Some of your ETH investors said nasty things about XRP, and now it looks like the SEC has its eyes locked on them. It is now public knowledge that the prior head of the SEC worked with firms that had direct dealings with ETH. We do not know what kind of relationship he had with ETH, but we know he was warned against contact with a firm due to his position and their involvement with ETH.

This is why we must have regulation. I sound like a broken record, but I will keep saying it. There can be no safety in crypto without regulation. Think about society and how laws work to hold certain practices in place. If we want crypto to become a contender in finance, there have to be regulations put in place. The lack of regulation gives birth to more fraudulent activity. It would be too easy for white-collar crime to ruin the crypto space.

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I don’t want to see ETH go down the same path as XRP because the results would be horrible. However, I want to make sure we have a clear understanding of what happened, so we can prevent it from happening in the future.

As always, not financial advice. Now I can go to sleep.

Do Kwon And The South Korean Government At Odds

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Around the beginning of the summer, LUNA crashed from a position of over $100.00 to pennies in a matter of hours. The LUNA crash was prompted by the depegging of their stablecoin USD. Around that time, a lot of investors including myself were trying to talk the blockchain eco team into saving the token.

At that time, the founder Do Kwon and his team were adding trillions of tokens to the circulation, which pretty much killed any hope of LUNA being able to recover. There were multiple plans being offered by the community and even by the Binance founder Changpeng Zhao. The first idea was to burn the newly created LUNA tokens, but the problem was the number of tokens. With the new amount being in the trillions, there was no real way, a burn would work.

Keep in mind, that circulation with crypto is everything.

Rumors soon started to come to the surface about the moments before the LUNA crash. It was said that Do Kwon knew about the upcoming crash and offered information to help get some of the investors to cash out before the bulk of the investors were screwed. As new investors entered the community trying to help soften the blow, Do Kwon started to mint new tokens. Sadly, efforts fell by the wayside, and people started to ask about LUNA’s Bitcoin reserve.

After several tweets with the Binance owner, Do Kwon stated that they couldn’t use the reserve. He insisted that he used it to stabilize the USD stablecoin. However, things still didn’t add up. Investigations were called from multiple places and now South Korea has issued an Arrest Warrant according to https://watcher.guru/news/terra-south-korea-issues-arrest-warrant-against-do-kwon.

Due to the ongoing legal issues both LUNC which was the old LUNA and the new LUNA are both dipping in price. People are probably jumping because they do not want a repeat of May. In crypto, trust is perhaps the biggest factor when it comes to investing. If you cannot trust the project or the dev team, it’s hard to feel good about putting your money into their project.

There are questions about the handling of LUNA. Why did Kwon use all his Bitcoin, did he use it to try to save the project, and why did he add trillions of LUNA when people were trying to save the project by investing? Maybe South Korea will be able to get some real answers because most of us would like to know what happened to LUNA!

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Interesting Things Are Happening To XRP

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Ripple (XRP) crypto currency theme concept. Ripple coin or XRP icon on modern circuit board background

So, first of all, I want to say thank you to those who wished me well wishes this past week. It has been a crazy two weeks in my household my husband, daughter, and I all came down with COVID! I don’t think I’ve ever been so tired in all my life. I found three things out that I never knew before having Covid. I hate soup, I love grapes, and I love strawberries. These are the only three things I’m able to eat post-Covid and actually taste. On the bright side of things, I’m feeling better. Yesterday, I finally tested negative after testing positive a few days ago.

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As for my crypto journey, I’ve been adding to XRP. Binance has started offering XRP as a reward. Binance is not alone in offering rewards by way of crypto. Coinbase gives crypto rewards for XLM, Dogecoin, and a few other tokens. The fact that Binance has started offering XRP as a reward makes me think we are on the eve of something with XRP.

There’s been a lot of talk about XRP and the FED in the news and on YouTube. We know some of the top dogs from XRP are now working in top government positions dealing with financials. I would like to believe that it is just a matter of time before American exchains start offering XRP again. However, I think the lawsuit will have to end before our exchanges relist the token.

As ETH gets ready for the merge, we are still being held captive in the courts. The Ripple case is taking forever, which is crazy because we know the SEC had dealings with ETH by way of Hinman. He stopped XRP from gaining ground for questionable reasons. If you wonder why people distrust the government, look at this case. In any other sector, what are the odds of seeing someone who did what Hinman did coming under investigation for inside trading?

I say this over and over, but we need regulation. Regulation will protect investors like myself and future investors from being victims of financial sovereignty. We are in a battle between who controls the flow of cryptocurrency wealth. In the end, I feel like we will see brokerages owning a great deal of the flow. However, until the winner is declared, I will continue to fill my bags.

As always, I am not a financial advisor. I am a mother on a mission.

How Much Longer Can The Case Between The SEC And Ripple Drag On?

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There are new developments in the SEC vs. Ripple case. Do you remember the speech that the SEC tried to use as a baseline for an attempt at guidance over the use of XRP? The draft of that speech and perhaps other interesting details are likely floating around in the Hinman Emails!

The SEC has taken a new approach to safeguard the emails from public eyes. They are claiming that the speech drafts have no claim or relevance to the case. Months ago, they were trying to sell the judge on Hinman using the speech to communicate his views on enforcement protocol for XRP.

It seems as if they have had a change of heart. All of a sudden, the would-be guidance is now nothing more than a draft with no use in the case. If this is true, one has to wonder where the case now stands. The change of heart comes after the judge has repeatedly asked for the Hinman emails. The SEC has constantly defied the judge by not producing the emails; until this latest filing.

https://t.co/CgwzCzmIkF

So, about those emails! The SEC is ready for the judge to see the emails, but only the judge can see the emails. One has to wonder what’s hiding inside the emails! It is starting to look like a giant whirlpool, and the government is at the center of it. Do not take my word for it; read the nitty gritty for yourself.

I will link the tweet with the new information below. It’s a good thing I am patient! I have had to sit through three pregnancies and share two bathrooms with three girls and a husband, so I specialize in waiting. As always, I am not a financial advisor, I’m just a mom with a thing for crypto.

Fun Fact, we are the only country that labeled XRP as a security and it is currently doing business worldwide. The SEC is the only thing standing between us and financial freedom.