All right so ladies and gents. I Gotta say it here, but it looks like I was wrong about the meme coin known as Pepe because in just a matter of 24 hours, paypay was ranked 2 600 Yesterday by market cap with about 700 million dollars under their name. but this morning they are ranked currently at number 44 with over a billion dollar market cap. So in this video, I'm gonna give you my honest thoughts on what I currently think about paypay and before we do that, I'm gonna go over some of the major headlines happening within the market.

So although we're seeing some meme coins taking off like it's the bull market once again, there are some major things that you need to know about to help you make a decision on whether or not you should be buying, You should be selling or knowing on what move to make next. So if you guys do appreciate these weekly Market updates, be sure to like this video down below: subscribe if you haven't done so already and let's uh, hoppity, hop into the computer see what's going on. All right, So not much interesting stuff has been happening with Bitcoin Currently it's trading at around thirty thousand dollars, slipping under that multiple times this past week and on the daily chart Bitcoin has a neutral RSI level of about 52 and the support levels at the 50 EMA are showing 26 600 and we can see a resistance level of Bitcoin being at thirty thousand Four hundred dollars. Now, the key factors influencing Bitcoin's price actions right now is one the ongoing banking crisis and the fund surrounding that.

Number two, it's the Federal Reserve stance on monetary policy and the increase in federal fund rates. We don't know what's gonna happen with interest rates and number three, there's a lot of ongoing lawsuits between top crypto exchanges and the US Agencies Like the SEC, the Cftc and the Doj who all want additional regulatory framework happening within the crypto world. For the US going into some of the other top all coins, I mean we are seeing some green in the market. Ethereum looks like it bounced out of that 1800 hole pretty quick.

It's right under two thousand dollars sitting at 1951 today. If we go into some of the big 24-hour winners, I Mean pay, pay, it's up. Uh, it's up a decent amount. One thousand, three hundred percent and we're gonna go into that at the end of this video real quick.

Big Headline: We need to talk about Fomc meeting because this is pretty much going to determine what the entire stock market and Crypto Market is going to do next. So right before the Fomc meeting happened, we got the second largest bank to fail in U.S History closing out and it has now been seized by regulators and most of its operations has been sold over to JPMorgan Chase Now Ladies and gents, I Mean this stuff is real because I use Chase for our business operations and I use it for a lot of my credit cards, my personal banking, and even at the top of their website they now State First Republic Bank is now part of the JPMorgan Chase Squad and that first Republic client should continue banking as usual and on the First Republic website, mobile app, and at First Republic offices. So a lot of this stuff is real folks. In accordance to the JPMorgan buyout, we got word that they're going to be taking over 92 billion dollars in deposits and it's also buying additional bank assets coming from First Republic as part of the deal.

the FDIC will also share losses with JPMorgan on first Republic's loans and JP Morgan is also going to be receiving 50 billion dollars in financing. now. this year is an important part of the story because the FDIC is essentially picking up the tab on first Republic's Bank liabilities and JPMorgan gets to keep those assets. So I mean if you're Jamie dimon the CEO you're going to be very happy this past week because you got yourself one Splendid deal.

But for the American people, it's a little bit of a different story. The main reason why this would be a concern is because oftentimes you don't want one single massive Bank controlling the entire banking sector and oftentimes you would want smaller and medium-sized Regional Banks to also have a say in the diversity of how the money is being split. Anytime we get monopolies, we see less Innovation we could see you know smaller interest rates and we could see competition go down where overall, effectively, the benefits of what we would normally get would not be as great. So zooming out a little bit, three out of the four largest U.S Bank failures in history have now occurred within the past two months.

given that we had the second largest bank failure that happened earlier this week on Monday Investors were hoping that Federal Chairman Jerome Powell would go ahead and pause interest rates starting this week, but what had happened was pretty much the opposite On Wednesday The U.S Federal Reserve has announced an interest rate hike for the 10th consecutive time, taking the Benchmark Federal fund rate from 5 over to 5.25 which is going to Mark a 16-year high. This also marks the most rapid series of increases since the 1980s. In the Fomc press conference, Jerome Powell indicated that this might be the last rate hike we see for some time now, and he also stated multiple times the U.S banking system is strong and that there's nothing that we should be worried about and that everything's okay. So as you guys know, there's no other way to say it, but it's just straight up cap because within hours of Powell making that statement, another Regional Bank known as Pac West also known as ticker symbol P-a-c-w If you go, check it out right now, their stock price tanked by around 60 since yesterday afternoon and is now down a total of 76 percent since the beginning of May, Pacwest has now released a new statement saying it's in talks with investors and it's considering a sale of raising Capital So we don't see the same thing happening like we did with First Republic Bank happening with them too.

So here are my thoughts: Jerome Powell and many other influential people right now I Don't think they're being the most honest right now to the American people. The reason for this is because if drone pal came out and you know he was instead being super hawkish instead of being dovish and saying okay, everything's gonna be okay. Don't worry ladies and gents, then everyone might freak out and they may pull their deposits and we could see an even further crash happening. But it looks like Jerome Powell needs to put up this Persona where everything is okay.

but then literally he comes off of the press conference and then all these banks are collapsing as soon as he's done. When it comes to raid hikes, I Believe that we might see a bit of a pause coming in June and I Still though, think that there is at least a 20 chance that we might see another rate hike here coming up next. although I Personally don't believe if a market can handle it, we did see markets price it in where a lot of the stocks started to dump right after the meeting. Now this tweet here really explains it the best.

They say since March these banks have collapsed. We have First Republic Bank the 14th largest bank we had Silicon Valley Bank Don't forget about that 16th largest. We had Silvergate Signature Credit Suisse now pack W and today Powell had said that the U.S banking was still strong. So folks form your own opinion on what you might think is going on, but don't ignore the facts on what we see happening within the prices for the market.

Now last week we talked a little bit about Coinbase, but we have to bring them up again because there are three lawsuits that you need to know about regarding this major exchange. So first of all, we covered this story many months ago. but there was a Coinbase officer board member who faced a suit over alleged insider trading before Coinbase had gotten listed on the stock market. Now, this suit claims that the defendant sold a 2.9 billion dollars worth of shares before disclosing information that negatively affected the share price, resulting in a loss of over one billion dollars if they had not sold.

Now, Coinbase is arguing that this suit is completely meritless, but they are also facing another allegation over alleged privacy violations in accordance to biometric collections. Now this year is a class action lawsuit alleging that Coinbase went ahead and violated privacy laws by collecting and storing user fingerprints and facial scans without anyone's consent. If you don't know, any exchange that you sign up for needs to go through something called a Kyc process which is called know your consumer. They need to know who you are so you're not going to be laundering money or if you own I don't know like a drug cartel or something.

You hop on one of these exchanges and then you decide to you know, move a lot of this money out. They can at least get some identification to prevent a lot of this crime from happening. It looks like Coinbase is going for the argument that they were collecting a lot of Biometrics for Kyc, but the argument also on the other side is that they were doing it without permission and they were also providing insufficient information about how they went ahead ahead and stored all of this data and whether or not this data would actually be removed now. I Think it's going to take a long time for any of those stories to pan out to anything but.

the big headline is the fact that Coinbase went ahead and sued the SEC last week and the SEC now has less than 10 days to respond. So as a recap, Coinbase sued the SEC back in April requesting that the agency publicly disclosed its stance on regulation for digital assets by answering 50 specific questions just as a reminder. Gary Genzer was also put on the stand, asked a lot of questions by different congressmen and he just did not have the answers to and even from that hearing, I'm not sure how many developments have been made. Now look, all you really need to know is that there is a major battle going on behind the scenes that even we don't know about between crypto companies and a lot of powerful individuals who want more control over citizens and who might also be at the pocket of a lot of the people who are in charge of things like the SEC Crypto has given power to the people.

Governments don't like that, and although regulation is needed if they're not able to provide it clear and just concise rules on what the heck is going on, they're damaging the industry even more and this is why they're pushing away other major exchanges from building in the US bringing more money to the states rather than you know it actually going out and leaving it to other countries. And last but not least, ladies and gents I know what you guys are here for and this is all about that pay pay Meme coin and so far in the last two weeks they're up about two thousand percent. They are right now listed on Okx Mexc Global, they're listed on Bitgetgate.io and Hubo, and also at the time of filming this video, they got listed on Binance for the fact that the Pay Pay Meme coin has now reached a mark cap of over 700 million dollars. It's the third largest meme coin after Dogecoin and Shiba Inu It's pretty impressive all right.

So here are my thoughts: If you've been someone who's gotten lucky, you know you put some money into Pepe a few weeks ago and it's up a significant amount. Don't get greedy. Okay, learn to take profits because anytime we see this get listed now on even some of the topics changes, we'll see a little bit more of a pump, but we will see it come down and it will start trading flat after that now. although I don't expect a huge rug pull to happen with this crypto here.

I Would just say please be careful if the Fomo is overwhelming right now for you and it's you know, just taking you over and you need to put in 10, 20, 50, maybe at most 100 bucks, go for it! I'd say that's okay, but don't be mad if you lose your entire money because at this point meme coin investing in a bear Market is just straight up gambling. Now Ladies and gents, if you don't like gambling and you like to invest with a strategic game plan, something I'm doing is opening up the version 7 of our patreon and this is Huge because this is the most amount of work I've ever put into our patreon. We've been sold out for months and finally we're going to be opening up some new spots. So if you want to have access to view my entire crypto portfolio, you want to get my buy and sell alerts.

You want to get my prediction on the market and what I'm doing in the next six months, and you want to have a whole slew of other benefits q A This and that. Check it out! Link: Down Below In the description: I have a wait list and you can also check out Patreon to see if spots are open there. and also on top of that, if you guys want to go ahead and pick up 20 free stocks for the month of May, check out MooMoo Link: Down Below in the description. Thank you all so much again for watching this video! Have an amazing weekend and I'll see y'all soon! Peace.