Polygon takes steps to become carbon negative and citibank jumps into the crypto space. My name is frankie candles, and this is your nightly. Crypto news wrap up lets get it. Some of you might not know this, but sec. Commissioner, hester pierce is an angel compared to dirty gary ginsler, shes, sort of the yin to garys yang and since shes pro crypto shes earned the nickname, crypto mom when it comes to regulation. She says level headed things like this. I i do fear that there are consequences to trying to move so fast. Sometimes when you move really fast, even as a regulator, you break things that are working well, and so i think we need to be very careful. We need to slow down, listen to what people are saying, give people the time they need to consider what were doing how refreshing she sees the bear market as a teachable moment for the sec to learn how to properly regulate the market and as an opportunity for Crypto users, she recently stated when things are a bit harder in the market. You discover whos, actually building something thats going to last and whats going to pass away. Because of this. She doesnt support the idea of crypto bailouts, especially if the companies that need to be bailed out are over leveraged or didnt use, good risk management like a version of darwinism and crypto. She wants to let the best companies stick around and the irresponsible ones to fizzle out.

The sec doesnt have the authority to bail out a crypto company and pierce states. Even if we did, i would not want to use that authority. We really need to let these things play out when crypto companies become insolvent and fall off its a bad look for crypto and the not so nice regulators use those examples to over regulate the rest of them. Hopefully she lets the cream rise to the top and lets the companies that are doing a good job operate. The way they were designed to lets pass it over to frankie candles for a market watch thanks, frank all right guys lets jump in and do a little market watch here. Weve got bitcoin coming in at just about 20k. Even ethereum, coming in at 1053 lets go ahead and check our top movers. Here we got matic up about nine percent unit, swap up six percent. Almost we got leo up about five percent amp up about four and a half percent sandbox up three percent and cosmos up three percent guys right now. Bitcoin is battling with that 20k area. Now we are getting some bearish signals on the 16 hour time frame. There are some mixed signals here. We have the daily bullish divergence, which is a rare bullish sign, but the 16 hour is now showing bearish signs. So it is a fight to the death between the bears and the bulls, so use good risk management and make sure youre not over leveraged or trading with money that you cant afford to lose.

If you guys want to follow me, its frankie candles on youtube or frankie underscore candles on all socials back to the news. Thanks, frank in a political climate that brings the rain on those who consume too much power. Im glad to report that polygon is taking steps to become a carbon negative blockchain polygon, also known as matic, is a proof of stake. Layer 2 that helps scale ethereum, and they have already achieved their first goal to become carbon neutral in april. They released the green manifesto that outlined their plans to create a sustainable future, as well as pledged 20 million dollars to community initiatives, including funding projects that utilize technology to combat climate change. Theyve partnered with klima dow to achieve their next goal to become carbon negative to eliminate their carbon debt. Since their beginnings in 2019, polygon purchased, 400 000 worth of carbon credits equivalent to almost 105 000 tons of greenhouse gases. Sandeep nail wall, polygons, co, founder, told, cryptobriefing.com polygon, will lead the way as the whole industry moves towards becoming a net positive for the environment. Many top tier investors in the space consider polygon a smart long term play in crypto and stories like this only support their case following in the footsteps of several other financial powerhouses. Citibank is the most recent of the bunch to jump on the crypto train, although they are only launching bitcoin custody services for institutional investors. The fact that a bank who has 27 trillion dollars in assets under management wants on board is very bullish.

News to help them develop their digital asset capabilities. Citibank is teaming up with medico a crypto custody firm from switzerland, who also works with the digital asset division of ibm, ocon, pekkin, global head of security services. At citibank stated, we are witnessing the increasing digitalization of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities that are becoming increasingly relevant to our clients. Widespread acceptance is in the cards and the masses, institutions and government officials know it. John bel edwards, the governor of louisiana, recently signed a bill allowing banks in louisiana to custody, bitcoin and crypto for their customers. Despite being in a bear market, we will continue to see many powerful institutions, countries and states jump on board now. So when the next bull run comes, everyone gets in on the gains thats. All i got be blessed.