RIPPLE XRP "WAS" A CURRENCY! CRYPTO TO $15 TRILLION! WHAT IS AVAX? CANADA BTC SUPPORT! CARDANO HUGE!
News gon na be very, very interesting, then moving over into the motion to intervene, thats, basically, the xrp holders standing up for their rights. That movement has gotten quite some some people in there moving over into avalanche. What is that crypto, and why is it doing so? Good canadian prime minister contender comes out in support of bitcoin days prior to general election gon na talk a little bit about that a little bit about cardano binance us. The ceo are actually the ex ceo having some crazy expectations for the crypto space and then moving over into some very interesting news about coinbase. Alright, alright, alright, so lets, first of all, start really quickly. With this news check, this out, so were going to quickly read it because youll most likely understand everything that you need to know from this small section. It is the secs opinion that is important in this specific regard. The secs only response is that ripple has merely slapped a label currency on xrp and ignored the economic substance of xrp as an investment contract. That is flatly incorrect. First, it is not ripple that labeled xrp as a currency. It was the department of justice and fincen that did so in 2015, and the evidence will show that the government considered xrp to be a prominent example of a virtual currency even earlier. Second, the fincen interpretive letter that the sec now points to in fn2 makes clear that fincen does not differentiate between real currencies and convertible virtual currencies.
Third, this is not just a matter of labels. Xrp2, which is a subsidiary of ripple. Ripples holy own subsidiary has been registered and has been supervised as a money service business with vincent since 2015 and since 2016, by the new york department of financial services as a virtual currency firm. Precisely because xrp is a virtual currency and many people forget that its actually, not that crazy. That ripple says: hey, we werent properly informed, or we actually got the wrong idea, because if you look at the real ins and outs of it, first of all the sec has been letting go of a ton of confusing notes on what they think about crypto and Whether or not something is security, but also from ripples own perspective, they did get the wrong or really contradictory info, then, by some other legal bodies in the us. You can definitely understand where the difficult see difficultness difficult. What i dont know, english guys. English is not my first language dont forget that i try my best and by the way, if youre, enjoying these updates make sure you press that like button, i try to make him as overseeable as possible to make him as clear as i can to the point And put all the subject in the comment section down below or in the description with the timestamps takes a lot of effort to make sure its all exactly done on time and perfect with the perfect description.
Make sure you press that, like button, if you like this style, a little bit more and actually guys comment down below, do you like this style? Yes or no, and if you say no, then let me know, should we go back to the previous way that i did the videos or or not im, just looking out for what is best im trying to make these videos as entertaining as possible and informative. Of course, now uh, i guess, lets just move over into the second part, because hopefully you guys get the confusion thing we dont have to sit around there for 50 minutes, its now 20 000. What are we referring to? Well, there are now 20 000 backers of the xrp motion to intervene or in official words, exit beholder seeking intervention or amicus status in the sec v ripple case by alleging that all present day xrp are securities, the sec effectively sued xrp holders. We seek an opportunity to speak for ourselves and, if you havent joined but wish to heres the link and well apparently, 20 000 people have now signed up, which is uh. Definitely crazy. Now i dont know the ins and outs of it. People have asked me: can you sign up from everywhere around the world? I believe you can actually because um theres been multiple people. Whove whove asked that question. He says no, but maybe some countries are exempt that i do not know but its not only for u.
s. I mean if youre in another country you cant actually enter was the benefit. I dont really know. I guess its just for support for this lawsuit, because if you want to know why this is being done, the sec suit ripple, however ripple is not ripple. Doesnt have the best interest in mind for xp holders theyre the best instrument for ripple the sec is supposed to come from investors, but they sued xrp, which we hold kind of so theyre, also not looking out for our best interest. So there was nobody really whos. Looking out for the xp holders themselves, which is why they joined into this lawsuit, all right then avalanche. What is it well? I can actually explain it in the easiest words. Its just another platform like ethereum, like cardano, like solana, like we, can go on for a long time like polka dot, um theres, a ton of them that are kind of the same way, but avalanche is a layer. One blockchain that achieves high throughput and offers compatibility with the e3 and virtual machine, basically meaning you can kind of have some overlap with ethereum network activity has soared in the recent months, particularly in the d5 space and avalanches. Evm compatibility lets developers seamlessly poor decentralized applications over from ethereum, and this compatibility basically means if you build something on ethereum. A lot of other projects have this too, by the way its not really new. You can actually kind of deploy that on avalanche too.
Without that much trouble now, as crypto heads towards a multi chain, future avalanche is getting a significant amount of traction for that perspective too. They actually have a couple of interesting properties, for example, really high throughput, which is definitely nice. The network has the highest number of validators using or securing the network of any proof of stake protocol, so thats all pretty damn good, but the way that it is made is actually very peculiar. The network consists of three integrated blockchains validated by a common set of validators, the exchange chain, the platform chain and the contract chain. Of course, this last layer is compatible with the ethereum virtual machine. This is the contract, as the names kind of suggest layer, its very peculiar. You dont have to understand it, though, to actually buy into it or really do anything with that um, but its just kind of what makes it cool makes it fun its just again. Another one of those platformers and those are kind of the features which it differs in with others. Now why people are all of a sudden bullish. I guess because its right now, the nft craze and people are just really really going for the platformer than anything to do with d5 right now. However, it is also going on into a couple of i guess new ventures. However, you want to call it so one of the things which they did is go for this thing, which is called avalanche rush on august 18th, avalanche launched a 180 million liquidity mining program, called avalanche rush and well yeah thats.
All you actually need to know about it, theres because of that program, a lot of people that switched over from ethereum over to avalanche, avex and theyve also now integrated with ava and curve thats. The most important part of everything that you need to know. Theres, more, of course, to the whole story, but i dont want to keep it too long and theyre, basically putting in a lot of money and a lot of effort to make sure that people change over to aviks and thats. Also why people might be doing it right now, because theyre getting incentivized by, for example, getting some money or the the programmers might be getting some incentive for it all right, then, moving over canadian prime ministerial contender comes out in support of bitcoin days prior to general Election. This is a very interesting article, very very interesting. However, its pretty short the summary so maxim bernier canadians will elect a minority government on monday, whether its headed by libcons or the conlibs. The only important question is: will there be any opposition to the authoritarian, big government consensus? You need the ppcs vote in ottawa uh that im not too aware of actually how exactly thats all going to work. I know theres been a big fuss about this entire election. Over there, but apparently a prominent canadian politician representing a party running in the countrys current federal election has spoken out in support of bitcoin maxim, bernier of the populist right wing peoples.
Party of canada tells his 150 000 twitter followers. He likes crypto, because hes dissatisfied with the current central banking system quote many people are asking if i support bitcoin and crypto. Of course, i do. I hate how central banks are destroying our money and economy im more of an old fashioned gold and silver fan, but cryptos are another. Uh are another new and innovative way to counter this, and that should be encouraged. End quote so i guess i guess we cant say too much negative negative things about that right. I mean it isnt, the other positive thing: moving over crypt uh, cardano, ignites explosive start, after upgrade with hundreds of smart contracts. I first had another article talking about this, but i thought i could summarize the story for you guys in an easy way too. Cordano has launched their newer face right. The smart contract phase a couple of days ago, so people are wondering: okay. What now whats going to happen from here or forward, or should we get excited? Should we get crazy? Should we get funky well, the long and short of it is theyve been doing really amazing and many people thought okay, so whats there for cardano. Now, in the near future, well theres adoption and theres progress. Cardano didnt have any function uh, they didnt really have much functionality before september 12th and now that the smart cons have been allowed, theyre really pouring in like crazy im, not sure what the exact number is already but theres, really a ton of them.
So credonos blockchain has over 200 smart contracts in the network just days after it added the functionality according to vert, so the number of smart contracts is as high as 2500 as the network experiences a flurry of activity. The flip side to this is that the smart contracts are in time lock pending their release, and the majority of what that has to do with is the fact that these guys have made their smart contracts or kind of thought them through, but thats deploy them. Of course right they had to kind of put them in the real code, and that sometimes takes time and of course, cardano themselves. Doesnt want everything to be done at this exact same time, so it takes a little bit of time, but, generally speaking, people are really really interested in cardano, because theres a lot of money to be made there any project that becomes new in this kind of d5. Realm has a lot of potential to get some crazy stake, deals or crazy adoption, because people are are looking for you, you know so any of these first hand uh smart contracts. Some of them are going to really really take it far and a fun fact about that is, for example, unit swap is just a really early adapter of ethereum and a good dex, basically being built ava ethel, and these aggregators, for example, theyre. Just one of the many that were early in that sense and that got popular a couple of ones that have been built on cordon are going to get popular too and im watching out for that really really carefully.
Because a lot of these projects are going to be great to invest in because once more were at the start of the start just launched a week ago, so im going to be really looking out for that guys ill. Give you more updates, though, if i really find something cool, then former binance that us ceo, brooks brian, brooks on crypto. He says we should be at 15 trillion dollars of an industry just quite yet or already now, which is very, very peculiar. The ceo former ceo brian, brooks of binance us, is confident that crypto could be a 15 trillion dollar industry sooner than expected. Given the recent adoption trends by key market players, speaking on tuesday, save for interesting things that um that have to do with crypto companies, he noted that theres a huge number of suits that have now concluded salt conference. He was referring to the huge turnout by investment, hedge fund managers, compliance firms, banks and asset management firms, representatives in attendance stating thats the news of crypto this year. Crypto is going mainstream, so yeah hes, generally speaking, really excited about it, as the number of companies on board and crypto keeps increasing like crazy, he says that we could eventually hit a 15 trillion dollar market cap from the current 2 trillion valuation. According to him, bitcoins price, which is currently trading under 50k, will be ignited to rally past that resistance by continued adoption and investments in the industry.
So i dont think i need to read too much for you guys as well. Here you just already know theres a lot of people who are really really bullish on bitcoin and theres, even key opinion leaders like, for example, brian brooks, who used to head the occ office of the controller of the currency. They know their stuff and then other stuff, around currencies and money same thing for, for example, rosie riaz at ripple. They know theres stuff around money. So when they speak, you listen. You listen really really carefully and even though he is of course incentivized because hes most likely very involved with crypto, it can be an honest opinion and even even if it might not be honest, its a really really important opinion, because if he says so well a Lot of people will listen and then heading over into the last news of today, which is still very, very interesting us homeland security signs, 1.36 million contract with coinbase coinbases new deal with the us government is around 40 times bigger than its last. However, i was not really aware that coinbase had a deal like that with freaking homeland, like what so coinbase will provide the immigrations and customs enforcement branch with blockchain analytics software. The crypto exchange has also provided software to the us secret service and inland revenue, and the longest torch story of this one is coinbase has a lot of developers a lot of software developers. They know what theyre doing coinbase actually is also invested in a ton of other companies through coinbase ventures.
So one of the things which coinbase actually does is sell software or license it or help out some of the things which they do to other companies that require it. And in this specific case here the um im going to say immigration, customs enforcement. Anything like that. They can basically buy two things right: they can buy data from coinbase, because even jeff bezos, for example, with amazon, has a deal with the cia as an example right because well sometimes thats just in your benefit, but they can also actually just buy information or data Information gathering services so, for example, coinbase, has a method. They created a method or you know their company created a method to source information from certain blockchain transactions or some sort of aggregates of transactions. Sometimes that algorithm, which youve made or found out that can deduct certain things can actually be resold to others, so they can use it to the best advantage to find criminals, for example right because even though coinbase, for example, could find criminals. That does not mean that theyre actually going to do it, for example, and sometimes that type of stuff needs to be sold over a couple of months ago or actually, a month ago, ice or ice paid coinbase about 30 000 for some forensic software and again im. Not too familiar with what exactly they have in the smallest of parts. All i know is that some of the subsidiaries under coinbase actually have some some, you know just basically analytics as their primary name or primary function, and so they can actually resell and license, and whatever other software too, which is whats happening, then again, i was kind Of afraid, when i saw that article that they were, you know basically going to try to sell all our information to them, but no, i believe its just for all these platforms to basically deduct more information.
However, this is also another fun little. You know snippet in your head, that should print because its like okay, this is 40 times bigger than the previous contract. It means that these guys are really starting to step it up, and it means that coinbase is getting better and better software, but ultimately that its growing basically and that theres more and more interest and more money going around in it, which is also positive, though all Right guys, that was for todays video, if you enjoyed it, make sure you press that, like button its again middle mid middle of the night, depending on how late i upload this video, but most likely, it is make sure you press the like button.