News: Crypto floodgates Opened ? / Another day, Another ETF application

Hey everyone, welcome back to another news update from me here on Box Mining. It's on the end of the week and we actually have some really good news coming in crypto. So let's get straight into it. First, the news comes from Binance. They're allowing cryptocurrency purchases via credit card. So this is pretty huge. It's not just big, it's huge. Because right now everyone uses credit cards to buy stuff online. Just like how you go on Amazon, you use your credit card. And right now, if you want to buy on Coinbase, say you have to do a nasty bank transfer, which takes a longer time. So this is why it's pretty good for Binance that, you know, they're actually allowing a stronger fiat entry into crypto. The current place of purchase is binance.com slash ink slash credit card. And then you can just purchase cryptocurrencies at a 3.5% fee. Now, there were a few people who were like, Oh my God, 3.5% fee is really, really high. But when you think about it, a lot of OTC desks, even in different cities around the world, they charge 5% to 10%. So this is a much easier way for a larger audience to get into cryptocurrencies. Remember, with great power comes great responsibility. Shut up and take my money! People see MasterCard and Visa card and think, Oh my God, people are automatically going to overload it and go into debt. I think this comes with, you know, prudence and financial planning, something that as a whole, as you know, this whole community grows, we got to kind of understand you can't buy on money you don't have. Now, this is kind of funny as well. So I need want to clarify my stance on Binance because recently I've been saying some positives and also some negatives. So namely, I've been, you know, not really supportive of the BTT token and I raised a few red flags in this video. And someone called me out and said, This dude is weird. You saw him talking with CZ very nicely on conference and now he's backstabbing CZ on his channel. This guy is a fucking snitch. He'll slap him on his face when I see him at the conference. You know what, T2? Thank you for calling me a snitch because in this space, it's really important to be truthful. And if you don't like something, it's important to call out on it. And I think in that sense, I did raise some flags and I think it's important, you know, to give that positive feedback or constructive feedback to someone who is doing something in this space. So yes, I like what Binance is doing. I didn't like the BTT token and I hope they can improve and learn from that. But I will definitely bring a face guard next time I go to conferences. Next up, we have this. The CBOE is resubmitting their VanX Solid X Bitcoin ETF proposal. So this comes after this big proposal that everyone was looking forward to because of the big names stuck behind it. They pulled it out amidst the government shutdown in the States. Well, the government shutdown is still in progress in the States. And while they're resubmitting this because they can have a longer timeline for the SATs to review, so they won't get an outright rejection. But then, you know, guys, we all know what's going to happen with these ETFs. There's going to be more delays coming up, especially because it's a new application. So, you know, we'll get it when we pretty much. We got South Korea here. They'll keep the ICO ban, they said. So what's happening in South Korea is that they banned ICOs in September of 2017. And they're going to reinstate or they're going to continue on the ban. So it's not really big news. I think there are a few people who are expecting a ban reversal, but they get the SFSC came out from South Korea to say, you know what, the ban continues to hold. The irony of all this is that there are big South Korean exchanges like BitThumb. And ironically, a lot of ICOs after they finished raising the list there, so the Koreans can access to, they get access to ICOs anyways, just they didn't get access to a pre-sale where a lot of money was made. So they kind of got dumped on. Oh, the irony. So we also have some negative news coming out. This is coming from the NEM Foundation. And it's revealed that they're on the brink of bankruptcy. Essentially, they have one month of funds left to support their team and their foundation. So that's that is actually pretty scary. Now, why is this important is because NEM is a top 18 cryptocurrency. So as of right now, they have a $380 million market cap. And it's very surprising that such a large foundation and group can actually, well, be so poorly managed to only have one month of funds left. The NEM Foundation issued two community statements and responses. But they did confirm the fact that well, due to the crypto winter, they very much only have one month left. Now, it's hard to put a positive spin on this. But honestly, eventually, they have to come out somehow and tell the community that they are out of money. And the sooner they do so, the better. It sucks that they took so long. And it sucks that this new council, whatever they're appointed, they're essentially having to clean up this mess. So I'm definitely going to follow the situation and how it unfolds. Also, I think it's quite important to remember, I think they're kind of viewing this, this crypto winter in quotation marks as if it's some sort of disaster. Honestly, in crypto, there, there's these waves, essentially these cycles, and winter is one of these cycles. So I think in the long run, a lot of companies need to be able to prepare for this. And we should definitely learn from their mistakes. Next up in China, we got WeChat and Alipay taking a hard stance on Bitcoin OTCs. So what exactly are OTCs? Well, they're a way for people to transact money, basically cryptocurrency without going for an exchange. Now, why do people need to do that in China is because all the exchanges are forbidden, pretty much the fiat to crypto on ramp has been forbidden by the Chinese government. And people have to do it essentially just by going through chat rooms or going on WeChat and say, Oh, look, I want to transfer and we'll transfer the money and then get the Bitcoin. Obviously, there's a lot of risk to doing so, but it's been going on in China for years. And it goes to show how unstoppable this whole cryptocurrency scene is. The matter of fact is you can ban the exchanges, but people will just find other places to exchange. Sure, WeChat, Alipay, they're going to China's going to track down on it because obviously they haven't clamped down on crypto trading at all. And the matter of fact is even if you crack down WeChat and Alipay, there's still many other ways to transfer and exchange Bitcoin. Hell, we can even do peer-to-peer, which is essentially meeting up someone in person and giving them cash in exchange for crypto. So this is actually really interesting to see and follow because at the end of the day, this is where we have complete control of our funds. The president of the premier of China just can't call someone and say, Hey, look, stop that Bitcoin thing right now. It's unstoppable. And that's it for me today, guys. Thank you guys so much for watching. I also like to give a special thank to Mike on Telegram. He's been feeding me a lot of news recently and helping this news gathering process for me. So, you know, big thank you. Thank you to Mike. And guys, Chinese New Year is coming on the 5th of February, and I hope to do something really special on this channel for that. So remember to click the subscribe button. And also guys, if you guys like this news updates, smash up that like channel really helps this channel grow. And it gives me a little bit of encouragement as well. Thank you guys so much for watching. See you guys next time.