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Posted 3 days ago | by Catoshi Nakamoto
The SEC and ESG weaponize policy against the people. The Ripple case getting drawn out isn’t stopping them focusing on the future and Paraguay is bullish on crypto! My name is Deezy. This is nightly crypto news wrap-up. Let’s get it!
If you don’t know, the ESG stands for environmental, social and governance. ESG ratings act as a sort of social credit system and “one thirds of all investments under management use ESG criteria.” (source) This is the criteria that’s supposed to consider how a company safeguards the environment, but, if you want an insight on what they’re really up to, they removed Tesla, an electric car company, off of their S&P 500 index…while keeping the Exxon oil company in the top ten. What a joke. I completely agree with Elon Musk for calling them a “Scam.” More recently, the ESG has teamed up with the most evil clown to ever walk the earth, SEC chair, Gary Gensler. He just doesn’t get IT. (Get IT?) Basically, the SEC has proposed an ESG rule to require small farms to report their “Scope 3” greenhouse gas emissions in order to do business with larger companies. This egregious proposal would effectively ban small farmers from working unless they spend insane time and money on tracking their data. Gensler’s reasoning is, “it would provide investors with consistent, comparable and decision-useful information for making their investment decisions.” (source) Is extra information for investors really worth alienating the 273 THOUSAND small farms in America? Wow. A rebuttal letter, signed by 118 house members, states, “Bureaucrats in D.C, specifically unelected SEC staff, who have no jurisdiction over environmental policy and who have never stepped foot on a farm should not have such influence over how farmers take care of their land.” Well put. It’s sad that the systems put in place to protect the people are the biggest threat to the people…and Gary Gensler once against proves he is willing to kneecap America’s working class to push his own corrupt agenda. Let’s pass it to Frankie Candles for a market watch.
Since Gary Gensler is the biggest sore loser in the world, the SEC has once again been granted a time extension so they can attempt to oppose amici status to six XRP hodlers who want to tell the court how the ongoing case has hurt them as investors. Gensler is going to drag it out as long as humanly possible and Ripple’s top lawyer said that the case might not end until 2023. This court case is really the biggest deal in the world for all of crypto. If Gensler wins, they can use this win as precedent and go after everything and everyone else. If he loses, which he will, they’re going to have to accept that crypto is here to stay. What do the XRP whales think about this? A tweet from Santiment shows that XRP whales are accumulating and that their total supply recently hit a two month high. Any time you see that whales are accumulating, that should be a sign to you that this is all going to turn around in a matter of time. Especially for XRP. Brad Garlinghouse even stated in Davos, at the World Economic Forum, that they’re considering an IPO to take the company public once the case is over. XRP TO THE MOON!!
Following the footsteps of El Salvador, Brazil and the Central Africa Republic, Paraguay has approved the legal framework to greenlight crypto and crypto mining. The vote passed 40-12 in the Chamber of Deputies. The bill is now heading to the Senate before going to the executive branch for the final thumbs up. (source) An article from Finbold pointed out that the aim of this bill is to make Paraguay an international hub for miners since their electricity costs, of five cents per kilowatt-hour, are the lowest in all of Latin America. Let’s go Paraguay! With this story in mind…I really want to zoom out and focus on our main message to our viewers for this year. I can’t stress enough how important it is to develop a long-term mindset. I know how bad the prices look right now…the fear is really high, and some people are doubting everything. I get that…but understand that crypto isn’t going anywhere. In fact, this industry is going be responsible for innovating the future of everything. It’s not about where we’re at, it’s about where we’re going. That’s all I got. Deezy Out!
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