IT LOOKS CRAZY BUT CRYPTO ISN’T FALLING APART!

A lot is still going on with cryptocurrency! I saw headlines on Bloomberg yesterday that suggested that Genesis may be filing bankruptcy and then today I read the article confirming that Genesis Global Capital is right now laying the groundwork to file bankruptcy as early as this week.

What we do know about Genesis is that they paused customer redemptions last November after the FTX scandal. They weren’t the only crypto lenders affected by FTX, BlockFi and Core Scientific also filed for bankrupty last year.

Also in crypto news this week I read that the SEC (Securities and Exchange Commission) said that they have charged crypto companies Gemini (owned by the Winklevoss twins) as well as Genesis Global with illegally selling securities to investors through their crypto lending program. Welp!😩

But wait, there’s more!😳 Who remembers NEXO Capital? I told the story of how at the end of 2021 they emailed New Yorkers asking us to take our crypto off the NEXO platform because the state of NY didn’t want them operating here. According to Reuters, NEXO agreed to pay $45M in penalties! This is to settle charges from the SEC (as well as state regulators) that they failed to register their crypto asset lending product. Oooops!👀

If you’re looking at it on the outside, you’ll feel as though everything concerning cryptocurrency is about to fall apart. I’m here to tell you NO, it’s not! There is a stirring behind the scenes that I don’t want you to miss. Get as much education as you can about crypto, and in the meantime, trade crypto and make money off of it whether it raises in price or dips in price - because that’s the way trading crypto works!😜

The most important thing to do however, is to work on an intimate relationship with God. Let Him guide you through any rough waters you may encounter. Follow after His peace and you’ll be led in the right way always. God’s Peace never steers us in the wrong direction!

Have a glorious weekend, I’ll see you next Friday!🤎

Copyright ©2023 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.