{\rtf1\ansi\ansicpg1252\cocoartf1671\cocoasubrtf600
\margl1440\margr1440 \deftab720
\pard\pardeftab720\partightenfactor0
\f0\fs22 \cf2 \expnd0\expndtw0\kerning0 \up0 \nosupersub \ulnone Who crashed the market?\uc0\u8232
\u8232 FUD or Fundamentals, we\'92ll take a closer look on this week\'92s\u8232 \u8232
Exodus Market Recap.\u8232 \u8232 The market\'92s down from last week as the Fudsters decry
the sky is falling while more pragmatic individuals double down on how this is the perfect opportunity
to stack more sats.\u8232 \u8232 Welcome everyone to the weekly Crypto summary and will dig
a bit deeper into what cased the selloff after the quick news summary.\u8232 \u8232 This
week the Fed Chairman J powel confirmed the US is looking into developing a digital Currency.\u8232
"We have assessed and we continue to carefully analyze the costs and benefits of pursuing
such an initiative in the U.S.," Federal Reserve Chairman Jerome Powell wrote in a letter to
lawmakers this week.\u8232 \u8232 The popular privacy coin XMR was subject to a hack where
malicious code was injected into the official Monero wallet. \u8232 \u8232 A Monero Core
Dev said CLI Libraries on the {\field{\*\fldinst{HYPERLINK "http://getmonero.org"}}{\fldrslt \cf2 \ul
\ulc2 getmonero.org}} may have been compromised. The vulnerability was quickly patched when
found and anyone who is running packages from wallet providers should always check the Hashes
from the developers to confirm they match the Hashes of the downloaded program. That\'92s
a bit technical and I\'92ll include a link to an article on the Exodus support site about
how to do this with your Exodus wallet.\uc0\u8232 \u8232 Blockchain Investigators Chain analysis
laid of 20% of their workforce this week with equates to about 29 employees across many
depts in a move to lead to a `path to profitability`\u8232 \u8232 Another Canadian exchange disappears
with customers funds. Einstein exchange was being investigated by the British Columbia
Securities commission, Apparently the exchange did not have possession of all the customers
funds and after the BCSC requested financial records the company the owner closed the offices
and left customers high and dry with empty company wallets. How many times to we have
to say, Not your keys, not your Bitcoin.\u8232 \u8232 This week in DeFi saw the swap of Single
collateral Dai into Multi-Collateral Dai. This long awaited move by Defi enthusiasts
is a major milestone in the evolution of Defi. To see how to swap your old SCD into the new
MCD please click the link at the end of the video.\u8232 \u8232 In investment news, Greyscale
is filing with the SEC to register it\'92s Bitcoin trust and if approved will make them
the first crypto company to report to the SEC and have an investment structure which
is more familiar to traditional investors.\ \
Paypal, the global payments company joins a 2.4 Million round of investment for TRM
labs. A Crypto Banking Compliance start up. Usually at odds, Crypto and Banks make for
unusual partners. What do you think, will this lead to adoption or or the destruction
of the crypto ecosystem. \uc0\u8232 \u8232 Please leave a comment below to join the conversation
and mash the Like button on the way down.\u8232 \u8232 We\'92re going to take a closer look
into the recent market movements and the potential causes.\u8232 \u8232 \u8232 Addressing the
Elephants in the room there are a couple theories about what caused the selloff.\u8232 \u8232
First is the apparent shutdown of the Binance Shanghai office as reported by the Block.
Sources, the Chinese govt raided the office which hosted some of the companies top executives
including CZ himself, who relocated to Singapore after the raids.\
\uc0\u8232 After the initial reporting, CZ posted a tweet saying this was FUD and Binance
does not have any offices in Shanghai and denounced the report as Fake news.\u8232 \u8232
TheBlock then shot back doubling down on their story and Binance eventually announced they
will be filing a lawsuit against the block for it\'92s story, then reinforced the decision
by creating a 1M dollar fund with contributions from Justin SUN, CEO of TRX, to help fight
against fake news. \u8232 \u8232 This is an extreme politicizing from either side as now,
2 of the most wealthiest men in crypto have the means to decide what is real and what
is fake reporting.\u8232 \u8232 The claim of this raid having an impact on the Selloff
does not hold water to me when I compare other recent negative Binance news to market moves.\u8232
\u8232 Binance was hacked and lost 40 million dollars on may 8th, what happened to the market
at that time. It finished in the green that day and is currently sitting about $1000 higher
at this moment than it was back then.\u8232 \u8232 Could the sell off have been triggered
by the reports of the Central bank of China\'92s crackdown on Exchanges who are defying China\'92s
cryptocurrency trading ban which included more than just Binance. However this ban has
been in effect for some time as China seeks to move into a blockchain monopoly in the
country. \u8232 \u8232 Or could we just be looking at a Bear market heading into the
halving?\u8232 \u8232 Leave a comment below to join the discussion and let us know what
you think.\ \uc0\u8232 Let\'92s take a quick look at the
numbers\u8232 \u8232 Bitcoin price is hovering just over 7 thousand dollars and the last
time we saw this level was\'85 All the way back in May of this year. However we are down
just over 16% in the last 7 days\u8232 \u8232 On the brighter side, BTC is up 32% over the
last 12 months. Let that continue to illustrate the power of BTC against the dollar.\u8232
\u8232 The current crypto marketcap is sitting at just over 200 billion dollars with a 24
hr trading volume of about 76 billion. BTC dominance remains about 66%\u8232 \u8232 \u8232
Thanks for joining us and please leave a comment letting us know how were doing and what you
would like to see on the program. Make sure to hit the trifecta of Like Share and Subscribe\u8232
\u8232 Don\'92t believe the hype, Crypto will continue to grow and it\'92s a better time
than ever to download Exodus and start stacking sats. To the moon.\u8232 \u8232 \u8232 \u8232
\u8232 \u8232 \ }