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⚠️⚠️⚠️ #facebook #crypto #novi ⚠️⚠️⚠️
Facebook was demanded by the Senate Banking Committee to STOP its digital wallet experiment.
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⚠️⚠️⚠️ #facebook #crypto #novi ⚠️⚠️⚠️
Facebook was demanded by the Senate Banking Committee to STOP its digital wallet experiment.
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Videos are not financial advice.
You know the more stupid congress is the more bullish i get about crypto because it means we haven't hit the peak pricing yet well, folks, the government is striking again, the government's boomers are after the crypto world and if you're, a boomer but you're interested in crypto, Because you're watching this video, i respect you, okay, folks, listen to this first. We know that last month, coinbase was going to launch a product called lend. They were going to offer interest on stable coins, but the sec. The security and exchange commission came out and said that they will sue coinbase.
If coinbase does that, despite the fact that other companies offer interest on cryptocurrency stable coins like block fine, which you can get by going to metkevin.com bf but anyway, so coinbase then ended up with drawing their plans to basically offer the lend program kind of killing their Competitiveness in the space, which is kind of weird, because block fi is licensed in most states. Just like coinbase is, i think new york is kind of the leftover one that everybody kind of has problems with. But anyway, i don't see how different block files from coinbase and block file is good, but coinbase isn't right anyway, so coinbase gets threatened. This leads the ceo brian armstrong of coinbase to freak out on twitter.
Well now the senate's taking their turn freaking out this time. At facebook, take a look at this dear mr zuckerberg zuck gets demanded to stop dealing with crypto from the senate. Take a look at this. Policymakers are once again facing a scandal involving reports about facebook's, relentless relentless pursuits of profits at the expense of customers.
Most recent allegations detail facebook's a knowing use of algorithms that harm adolescents in t and teens, particularly girls. Facebook has repeatedly shown itself indifferent to the harms its products cause. As a result, we right to voice our strongest opposition to facebook's revised effort to launch a cryptocurrency and digital wallet now branded neom and navi. In october 2019, there were individuals associated with originally facebook's planned stablecoin or cryptocurrency libra, who expressed deep concerns about the risks libra proposed or posed to consumers in the financial system after they got so much backlash that is after facebook got so much backlash.
Facebook killed libra and then they basically rebranded it kept the project going in the dark. Well now the senate is quoting facebook, saying that here we go. You said in a house financial services committee hearing in october 2019 that facebook quote would not be a part of launching the libra payment system anywhere in the world unless all u.s regulators approve it more recently, david marcus, the executive, overseeing facebook's digital currency effort, said quote: We are definitely not going to launch without proper regulatory framework. Well, thanks for the verbal contract is essentially what the senate is saying now, because the senate is saying dear to your facebook, hey you know here, you are trying to pursue a digital currency on an aggressive time frame and you've already launched a pilot for a payments Infrastructure network providing the citations here from specifically the verge of this citation here: digital wallet, pilot program, payments, dm right, uh and take a look at this now uh. They reference the federal reserve saying that stable coins are kind of like money, funds like bank deposits and they're growing, incredibly fast, but without proper regulation. This is where they're tying together that hey facebook, you said you weren't going to do anything until we have regulation now. Here, you go being being you know getting out of line again, even though technically facebook just said: hey we're not going to do it until you guys regulate. I mean i can't really blame facebook, because congress is super freaking slow at actually doing anything.
So here you have, i think it's like five senators, throwing this letter together and basically saying we urge you to immediately discontinue your pilot and commit that you will not bring diem to market what it's worth. Here's the verge article from yesterday facebook's digital wallet finally launches without dm cryptocurrency facebook is finally starting to roll out a small pilot of navi the digital wallet today in the us and guatemala more than two years after it was first announced, the pilot will, let users Send and receive money instantly securely and with no fees using the paxos stablecoin in partnership with coinbase, which will be serving as the custody partner. According to facebook's david marcus, the pilot is meant to quote test the core features and functions and operational capabilities of customer care and compliance. In addition to trying to demonstrate the viability of stablecoins most notably though it is, the fact that novi is launching without its biggest feature the facebook-backed cryptocurrency dm.
That was meant to be the cornerstone of the project. Diem was formerly known as libra, and now, if you're confused, don't worry so is congress, i'm going to clear it up for you, libra was supposed to be facebook's cryptocurrency rebranded now as diem. Facebook is not launching diem, so libra diem. Those are not happening like facebook promised facebook is launching a digital wallet.
Now congress thinks facebook is launching a stablecoin, but they're not launching a stablecoin. Facebook is using an existing stablecoin created by the company called paxos, which does a lot of actual zero like t plus zero settlement really cool work. The folks over at paxos do i'd love to invest in paxos. If i could, if anybody knows how i can invest in paxos, please reach out to me on instagram or twitter, but anyway, this facebook pilot here is just facebook issuing or opening up the wallet like a meta mask and once again folks. This here is a big catalyst to show us how freaking clueless our regulators are. Now i don't profess to be the almighty, most knowledgeable person about cryptocurrency, but i'll tell you this i'm researching and learning about it every single day, and i can see here that our folks in congress aren't. Let me know what you think about this in the comments down below check out my programs on building your wealth linked down below and folks, we'll see in the next one and go to mackevin.com bf for those yields you.
DEMOCRAT SENATORS Kevin, they're all DEMOCRAT Senators. You just don't get it. Democrats shaddpwbanned, sensored your election bid as well. Fake the Red Pill
DEMOCRAT Senators, just to call out Kevin for his incapacity to note the problem
Are you on coke dude, this is your tenth video today
FTX gives 8% up to 10,000 then 5% after that lmao why are they cracking down on Coinbase? Because it is the most popular?
The congress want to protect crypto from the BS facebook
Thanks 🙏 for continuous great 😊 videos, I feel those who would allow the market dynamism to determine when to trade or not are either new in space in general or probably just naïve, the sphere have seen far worse times than this, enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, l'd say that more emphasis should be put into trading, since it is way profitable than hodling. Tradlng went smooth for me as I was able to raise over 9 bt c when I started at 1.5b tc in just 3 weeks implementing trades with signals and insights from Prof Greg Darrell. I would advise y'all to trade your asset rather than hodl for a future you aren't sure about.
Poor fb: the more they cater to the left the more everyone hates fb. Including the left.
Its free publicity to drum up hype. FB is in bed with government and that doesn't play well with the crypto community, this is a way to make them more appealing as a counter establishment product. This is all just a show. HowDoYouDoFellowKids.jpg
In fairness to Congress, perhaps their intent was to prevent super large companies from entering a nascent market and ruining it. Perhaps Congress wanted to preserve the many opportunities that exist today for small innovative companies to create something remarkable. Or maybe this was just a sponsored regulatory assault by the banks or another Congressional crackpipe moment of the jackboot squadistas.
You can't interfere with Congress making money. They will shut you down. These people only go into politics to become rich.
YOU JUST WANT IT TO SUCCEED BECAUSE you want money just like all the other people that are destroying the environment.
i WOULDN'T WANT TO BE IN THE DIGITAL WORLD BECAUSE NOT ALL OF THESE ARE GOING TO SURVIVE.
imo facebook should not be allowed to get into crypto at all (besides buying for balance sheet) lots of privacy concerns and facebook will eventually go away just like myspace and imo cant happen fast enough. facebook super sketch+ the censorship to help the commies in US gov
Just proves that Facebook and government have been working together this entire time.
You charge fucking $900 dollars for your course?? Are you shitting me? You think $900 is a fair price to hear you rehash a bunch of bullshit you can find on youtube for free? You're trash bro.
I find myself scrolling up when I see meet Kevin in highlighted hair I’m not watching his videos he might as well be wearing a clown nose.
I have no sympathy for Facebook so I really don't care if they can't deal with crypto, but why is Congress going after Zucc's crypto investments rather than just, I dunno, STOPPING them from being able to take advantage of their users? They even admit that their main issue is with Facebook is their lack of care about the well-being of their users within the FIRST SENTENCE of this letter. Order them to break up their services or something. This is such a backwards way to regulate them and I don't understand it.
Why is NY the only State will all this regulation? I'm not able to use anything other than Coinbase
I think that congress and the entire government. Needs to be reset.
Completely come up with a new system.
This one is corrupt through and through.
The wealthy use their wallets to make decisions that affect us all.
They do whatever they can to prevent the common man from gaining wealth.
We need term limits now!!!!!!!!! One and done. Politicians are out of touch making millions on policies and laws that only line their pockets. Politicians are criminals taking bribes from lobbyist to enact laws and policies that harm Americans. Wake up people vote out every current politician send them a message we are done with career politicians.
I actually disagree with you Kev
First off Congress has every right to make Facebook and by his employment there Zuckerberg to adhere to a verbal contract as you said
Second off if Congress and others had said nothing- Facebook would take that as a queue of no one is watching so lets release it in a month
Third the whole reason congress doesn't like Facebook is because they are deliberate in their attempts to be more valuable than the US GDP (same reason they kill other monopolies)
This is a straight power move by congress headed only by the few people who ACTUALLY pay attention to the crypto space.
Congress is right here, Facebook and any Libra (substitute) needs to be regulated and heavily.
In conclusion: Crypto is suppose to be decentralized, do we really want Facebook to have a LARGE Market share of the crypto space by default? wouldn't that in essence ruin the idea of crypto and freedom only to serve the largest company in the space? Literally control over the system, or freedom? you choose
He's making a Killin off YouTube views! Hints the hair…u see it…u press play….view count doubles… sponsorship increase…u name it….win
nice video but i think Talkin' investing had a better take on it
Democrats r like communists shutting down any businesses that they dont like
How crazy… finance boomer are scared crypto is better and more competitive than fiat… better kill it ???!!!! I hate boomers more and more and time passes ….. just go away please.
Just imagine they cancel your access to your money because they disagree with you.
Been watching for a long time but why does the channel look like a 14-year-old leftist runs it??
How come bitcoin is legal and no ban on it and stable coins are bad when both are crypto currency
Crypto is no where near where it should be. I can’t even send my coins on blockfi. I sold all my ethereum and bitcoin elsewhere. Shit so wack. I’m in the space and still can’t figure it all out. Never will it become mainstream
Facebook should use Pi Network. It already has 10 million users, and not even manner yet. Mined from phone. No brainer. Pi also has a wallet.
Danke Kevin deine Videos sind spitze va zeigst du die zUm Teil doch sehr komplexen Zusammenhänge in einer einfachen Weise auf so das auch ich sie verstehen kann. Danke mach bitte weiter!!!!
Leftism has become a disease. Naive hateful and flat out stupid
Isn't this an attack on Facebook, more than on crypto? I get the feeling that Congress just want Facebook to disappear, so they want them to stop all new projects and crypto is just one of them. Anyone agrees or am I not seeing this clearly? Thanks for the video Kevin 😃👌
We are victims of the STUPIDEST GOVERNMENT ON EARTH.
blockfi is terrible stop shilling it. service goes down 3-4 times a month. use celsius instead