Interesting News Topics In Crypto Today

Well there is for sure no shortage of bad news coming out of crypto again. In a way it makes me feel like we are in that fear or at least close to that fear level again for that fancy graph everyone always shows.

This is because I constantly hear from people once again how crypto is a scam, the SEC is hammering it, Governments are cracking down on it and companies are starting to limit and restructure things.

Let's jump into some of the highlights for the day and I'll give my thoughts on a few of these. Feel free to voice your own opinion and thoughts on these topics in the comments.

SEC

The SEC is at it yet again. Once again now claiming that ALL cryptos are a security minus bitcoin. Ah you gotta love it they constantly are trying to over step and it's the same old broken record for nearly 7 years now out of their mouths.

The reason why the SEC is having such a hard time is because there are NO LAWS etc on cryptocurrency and they all have to be created now. This is where I call the government over stepping because new laws and regulations have to be drafted up and passed in order for them to start touching crypto. What's even better is when they can't they try everything they can to circle around and still attack it.

We saw this in a recent case of saying crypto form institutions has to be held in a bank. Yet the SEC and government have warned backs heavily not to get mixed up in crypto. There's still no clear rules or laws about crypto besides the government wanting to make sure they get their grubby money fair share of it like always. I can't remember the last time the government gave up money and cut back on completely stupid and wasteful projects. How about maybe we try that first.

TRON and USDT

USDT is a newer "stable coin" from the tron network. To be fair Tron is one of the most jacked up scammy blockchains ever and on top of that has a leader that is down right the slums of the earth. Yet because he has so much "value" in terms of assets in crypto he continues to get away with crap.

Well trons new stablecoin USDT just got hit with a over 700 million dollar phishing scheme. The general idea of how it worked was a validator was able to get enough votes to make them able to do transactions on the chain. They became one of the 27 Super Representatives which allowed them to elect a node called "metaverse home" and collect 16 TRX tokens per block (A little over $1 per block) The TRX was not cased out yet or moved to an exchange to be traded (which would allow for tracking)

This brings up a important thing to be watching of with DPOS networks even those like hive. Where enough "vote" could make a bad node an authority node or really any current authority node could turn bad.

Coinbase

The battle against BUSD continues. First it was the SEC and other regulations hammering it and now all of a sudden Coinbase is now removing it from their site and exchanges saying after their own review it no longer meets the criteria of a token they want to support.

Such actions for sure start to shake my confidence in these stablecoins. Sure you can call it a stablecoin but unless it's fully backed by a liquid 1:1 USD fiat dollar it's not really stable and I feel like that also opens up a clear line for the SEC to come in and attack.

I'm sure there's plenty of other news but that's a warp up of today for what I'm getting. Let's hope for some positive news soon and the launch of new applications.

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