Daily Deep Dive #82: Just Another Post About the War on Crypto
Coinbase Recives Wells Notice - Otherside Announces Team Captains - Memeland Captains Teasers
Dipping Into The Deep Dive
Good morning, everyone! What a wild day it was on Twitter yesterday. FOMC meetings, Coinbase received a Wells Notice, and Memeland released another Captainz teaser. It was like the 4th of July, with explosions of news, excitement, and fear everywhere. Do not worry, though. I’m here to report all of it for you. So let’s dive right in to see what went down!
https://twitter.com/JosshFos1
Daily Deep Dive
By: JoshuaLovesEth
Diving Into Crypto Prices
Crypto Market Cap: $1.19 Trillion with 025% increase in the past 24hrs
ETH $1,830.37 (ATH this week: $1,861.67 ATL: $1,613.70) +1.37%
BTC $28,757.40 (ATH this week: $28,578.63 ATL: $23,912.00) -0.64%
APE $4.15 (ATH this week: $4.86 ATL: $3.93) +1.41%
SOL $22.44 (ATH this week: $23.99 ATL: $18.76) -1.19%
Diving Into The Top NFT’s
Otherdeed for Otherside 1.47 ETH FP, 1.87k ETH in daily volume
Mutant Ape Yacht Club 12 ETH FP, 2.71k ETH in daily volume
MAX PAIN AND FRENS BY XCOPY 0.97 ETH FP, 182 ETH in daily volume
Nakamigos 0.03 ETH FP, 109 ETH in daily volume
The Art Pass by Iconic Moments 0.64 ETH FP, 87 ETH in daily volume
Diving Into The Highest NFT Volume of The Week
Mutant Ape Yacht Club 12 ETH FP, 15.4k ETH in weekly volume (-24%)
Azuki 13.5 ETH FP, 10.2k ETH in weekly volume (-8%)
Bored Ape Yacht Club 57.4 ETH FP, 9.21k ETH in weekly volume (-15%)
Doodles 3.33 ETH FP, 8.34k ETH in weekly volume (+41%)
Otherdeed for Otherside 1.46 ETH FP, 8.31k ETH in weekly volume (-18%)
Diving Into The Highest NFT Volume
Bored Ape Yacht Club 57.4 ETH FP, 2.29k ETH in daily volume (+141%)
Otherdeed for Otherside 1.46 ETH FP, 1.87k ETH in daily volume (+72%)
Mutant Ape Yacht Club 12 ETH FP, 1.71k ETH in daily volume (+44%)
Doodles 3.33 ETH FP, 919 ETH in daily volume (-48%)
Azuki 13.5 ETH FP, 660 ETH in daily volume (-71%)
Digging Deep Into The News of The Day
Coinbase Received a Wells Notice From SEC
If you were anywhere on Twitter over the past few days, you would’ve seen the headline “THE WAR ON CRYPTO HAS BEGUN” over, and over, and over again. Well, unfortunately, they are right. Yesterday after the FOMC meeting, Coinbase, one of the largest crypto exchanges, received a Wells Notice from the SEC. If you do not know what a Wells Notice is, it is a way that SEC staff tells a company that they are in possible violation of securities laws. Thankfully it is not a formal lawsuit or charge. It is more of a warning to the company to carefully review their information. According to Lucky Trader, the official notice went after an “unspecified portion of our listed digital assets, our staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet after a cursory investigation.”
Now, why is this a war on crypto? Coinbase is not the entirety of crypto, so how is this a war on all of crypto? Well, the issue lies in the numbers. Since 2022 coinbase has verified over 103 MILLION users on their platform, with millions of those being active monthly. If the government decided to go after Coinbase, it would cause large sell-offs and scares. It could possibly cut out 100 million people from the crypto market, which is a huge problem.
Their stock took a massive hit this week after the news was published. Since the news on Wednesday, their ticker COIN is down 14.05%, almost $11. All and all, this news is extremely shocking and terrifying to some. If you are looking for more information, though, feel free to check out the CEO’s official statement about it down below. Stay safe out there, everyone.
Drama and Events in The Space
The power of clone.tools by RTFKT:
Next Chapter for Captainz?
Team Captains for the 2nd Trip: