2023-11-29

๐Ÿ’ผ A Security? Neither Soccer Players or SEC Know

Howdy Folks,How are you feeling with regards to your portfolio...feeling positive?

Let's take the plunge!

  • โšฝ Soccer Star's Crypto Controversy

  • ๐Ÿ“ก DOGE-1 Gears for Moon Mission

  • ๐Ÿ” Self-Custody Trend Rises for BTC

โšฝ Ronaldo in Legal Tussle Over Binance Deal 

Cristiano Ronaldo, the celebrated soccer icon, is now embroiled in a class-action lawsuit tied to his endorsement of Binance.

The suit alleges Ronaldo's involvement in selling unregistered securities via the crypto exchange's NFT collections. ๐Ÿ“œ๐Ÿ’ผ

In June 2022, Binance inked a multi-year partnership with Ronaldo, leading to highly publicized NFT launches.Those NFT collections don't seem like such a good idea now...do they, Ronnie?Plaintiffs argue that these initiatives, boosted by Ronaldoโ€™s global fame, lured investors into purchasing what they claim were unregistered securities. ๐Ÿค๐ŸŒ

The Southern District of Florida lawsuit emphasizes Ronaldo's massive social media influence, asserting it played a key role in elevating Binance's profile. ๐Ÿ“ˆ๐ŸŒŸ

Accusing Ronaldo of negligence, the plaintiffs maintain he should have recognized the nature of Binance's offerings, given his access to expert advisors.Well, if the SEC can't decide what a security is, how is a soccer player supposed to know?The suit also claims he failed to disclose payments received for promoting crypto assets, a requirement outlined by the SEC. ๐Ÿšซ๐Ÿ“ฃ

๐ŸŒ• Dogecoin's Lunar Leap Approved 

The Dogecoin-funded mission, DOGE-1, is one step closer to the moon, receiving crucial approval from the National Telecommunications and Information Administration (NTIA).

This green light is key to obtaining the final Federal Communications Commission (FCC) license for satellite communication. ๐Ÿš€๐Ÿ›ฐ๏ธ

Set for a December 23 launch on Astrobotic's Peregrine Mission One, DOGE-1 will carry the first physical Dogecoin coin to the lunar surface.Don't leave it on the Moon! Crypto should be eco.โ™ป๏ธThis mission, involving payloads from NASA and other entities, showcases Dogecoin's expanding role beyond the crypto market. ๐ŸŒŒ๐ŸŒ™On Earth, Dogecoin's impact is already visible in Sakura City, where a bronze statue funded by the community now stands as a tourist attraction. ๐Ÿ—ฟ๐ŸŒ

From its origins as a Bitcoin parody, Dogecoin has gained prominence through its meme culture and community-driven philanthropic efforts.Regardless of your view, it's a very interesting story...from token to trendsetter!From sponsoring a NASCAR driver to supporting clean water initiatives, the Dogecoin community is harnessing the crypto's power for significant real-world change. ๐Ÿ’ง๐Ÿ

๐Ÿ“‰ Bitcoin Exchange Supply Hits Low 

Bitcoin's presence on exchanges has dwindled to its lowest since December 2017, sitting at just 5.38%.

Market intelligence platform Santiment reports this trend as a sign of diminishing exchange reputation, leading to more self-custody of Bitcoin. ๐Ÿš€๐Ÿ”

Meanwhile, the ten largest Tether (USDT) exchange wallets now hold a combined $15.23 billion, the highest since June 2022.This surge in Tether's exchange buying power indicates a potential readiness among whales to invest in Bitcoin or other cryptocurrencies. ๐Ÿ’ต๐Ÿ‹

Supply and Demand baby!! ๐Ÿ“Š๐Ÿ“ˆ

The decline in Bitcoinโ€™s exchange supply is often interpreted as increased investor confidence, with more users opting to hold their BTC for longer periods in secure storage environments.This move to self-custody reflects a growing preference for personal control over assets. ๐Ÿฆ๐Ÿ”’

In contrast, the growing Tether reserves in major exchange wallets could signal imminent large-scale purchases in the crypto market.Brace yourselves, folks... ๐Ÿ”„๐Ÿ’ฐ

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