The latest episode of “Good Morning Krypton” covers the current madness happening in the Crypto market, with Radix leading and slaughtering the entire market, and Gary Gensler being grilled by Congress on whether ether is a security or a commodity. Gensler was unable to provide a clear answer, leaving investors uncertain about the status of their investments. The episode also emphasizes the importance of understanding which politicians are supportive of Crypto, and provides a database for users to search where their representatives stand on the issue.
In this episode of Good Morning Krypton, Andrew discusses the madness happening in the Alka Market, with Radix leading the way. He also talks about the recent grilling of Gary Gensler in Congress and the confusion around whether Ether is a commodity or security.
The Alka Market
Radix is currently leading the Alka Market, with its price surging by 19% according to Andrew. However, according to Coin Gecko, the price is up by 23%. Andrew emphasizes the importance of patience in the cryptocurrency market.
Gary Gensler’s Testimony
Andrew discusses the recent grilling of Gary Gensler in Congress about the classification of Ether as a commodity or security. Gensler’s responses were shaky and uncertain, which Andrew finds concerning. He believes that a government official such as Gensler should be neutral and apply the law without any pressure.
The Confusion Around Ether’s Classification
Andrew highlights the confusion around whether Ether is a commodity or security. He explains that the SEC and CFTC cannot seem to agree on its classification, with some saying that Ether is a commodity, while others believe it’s a security. This lack of clarity puts businesses in the crypto industry at a disadvantage as they don’t know how to proceed legally.
The Importance of Political Support for Crypto
Andrew emphasizes the importance of political support for the crypto industry, especially in the US. He encourages people to research their representatives’ stance on crypto and support those who are pro-crypto. He highlights the existence of a database of politicians’ profiles, indicating their stance on crypto, which Americans can use to make an informed decision during elections.
Andrew wraps up the episode by noting that Gensler’s testimony was just the beginning of the madness in the crypto industry. He encourages people to support politicians who are pro-crypto, and together, they can make a difference in how the industry is regulated.