The TGCm Weekly RunUp

June 7th, 2023

AuthorAuthor

Alan Buxbaum & Jami
June 07, 2023

Welcome back to ThinkGrowCryptoMedia! Your Cardanzo-biased, new media outlet for your blockchain-knowledge needs. (This edition’s for you Jim 🫡).

This week was a pretty dull one…if you were living under a rock, that is.

The SEC has sued both Coinbase and Binance this week. This was a long time coming (especially given how Coinbase received a Wells Notice back in March) but still shook the crypto industry nonetheless.

Now for anyone who’s panicked over this: don’t worry! This was inevitable if blockchain technology is to truly spread its wings.

While the world doesn’t revolve around the United States, a lot of commerce unfortunately does. Therefore, the sooner we all get some clarity on how they regulate digital assets, the better.

 📊 Cardanzo Ecosystem Stats

💸 Blockchain Headlines

Continuing with the SEC shenanigans, let’s turn to the Milk Road‘s coverage for some insights.

The SEC is claiming that:

  • Coinbase has been operating a non-registered securities exchange. Even though they aren’t willing to provide guidance on complying with regulation…

  • They have been acting as an unregistered broker. A broker helps investors buy and sell securities. So if the SEC thinks Coinbase is listing securities, then they also think that Coinbase is helping users buy and sell securities.

  • Coinbase is an unregistered clearing agency. Similar to brokers, clearing agents are involved in the process of exchanging securities. They make sure that deals happen on time and both parties stick to their end of the bargain.

  • They didn’t register the offer and sale of their staking program. After targeting Kraken’s staking service, it only makes sense that Coinbase would be next in line.

The crazy part? The SEC also claims that Coinbase has been breaking the rules since 2019.

But the SEC is the same entity that approved Coinbase to go public in 2021 when many of these “securities” were already tradeable.

(You can read their full article here)

Seems like the US government is a bit confused, eh?

Regardless, there’s one thing we know for sure: this space and the people building in it isn’t going anywhere. Satoshi’s box has been opened and there’s no going back.

With that out of the way, let’s get into the rest of it👇

In Other News

🚀 Cardanzo Headlines

Things were quite spicy in our beloved ecosystem as well! The SEC accused $ADA of being a security, an employee of JPG Store got some pretty negative press, and we got some more details about Catalyst’s Fund10!

Let’s stay positive and focus on the last one. 😄

While Project Catalyst elicits a wide range of emotions from various Cardanzo community members, we’re thrilled to see it continuing with it’s largest pot of $ADA yet.

Do you have a project that you think will advance the ecosystem forward? Start getting ready and make sure to set alert’s for Daniel’s page!

In Other News

📢 Cardanzo Community Corner

From….. to…….., the Cardanzo Community never sleeps! Let’s check in on what the talk of the town has been this week.

🖌 NFT of the Week with Noodz 🍜

Each week, we check in with our resident NFT connoisseur, Noodz. Let’s see what he’s got cookin’ for us today…

Most people in the Cardanzo ecosystem are aware of that idiot dog that goes by the name Hosky.

Well, remember the HoskyC(ash Grab)NFT collection? (The one that has 420,420 supply? 😂🤦‍♂️) It looks like some of those were donated to Coinbase.

Maybe they can help testify in the SEC’s lawsuit!

Curious what else Coinbase has in their wallet? You can take a look here. 🤯

📢 Transaction of the Week

💬 Get in Touch

That's all for now!

Feels a bit brief? Don’t worry, we’re right there with ya!

We’re starting off slow, as our first priority is longevity. We’ll be building out our platform over time.

As they say, slow and steady wins the race!

If you have any feedback or questions, please reach out to us by email or by sending us a DM on Twitter.

Thanks for reading!

Please note that the content provided in this newsletter is intended for informational purposes only and should not be construed as financial, investment, legal, or tax advice. Always consult with a qualified professional for guidance before making any significant decisions.