Hopefully, you are paying close attention to the crypto market this month. The lawsuit between the SEC and Ripple is starting to get a little crazy. If you are anything like me, you should be in awe of how the SEC is still managing to defy court orders. With all the affidavits flying around this case, you would think we would be near a ruling. However, we are still in limbo.
The problem is that we do not have enough people talking about what happened with the Hinman situation. Sure, we have some Republican Congressmen starting to raise concern over the Hinman emails, but we should have both sides of the house deeply invested in this case. You cannot have this sort of situation take place with members who seek to govern the very market they are attacking for personal gain.
We have a lot of XRP investors being represented by John Deaton, which is a great thing. To have a government agency interfere with the outcome of a financial market is somewhat alarming. This is why we need regulations. Regulations are not always a bad thing, they help keep people in line, they also help prevent Ponzi projects, and they protect investors.
Crypto isn’t going away! You have companies like Blackrock, JP Morgan, and Wells Fargo getting into relationships with crypto! These companies are found in 401ks across the nation and hold some of the most lucrative portfolios. So, get ready for the new normal.
As always, this is not financial advice! Talk to your advisors about any stocks or crypto-currency that you want to invest in. Have a great week.