Binance is going through some rough times currently. Just a week ago the SEC announced it was taking it, and Coinbase to court, and today the news came out that it(Binance) will halt its service in the Netherlands as of July, 17, this year.
According to a notice published by the company, the company had failed to secure registration as a virtual asset service provider (VASP) – despite exploring “many alternative avenues” with Dutch regulators.
However, despite being compliant with EU standards in other countries, such as France, Italy, Spain, Poland, Sweden, and Lithuania, the company was unsuccessful in the Netherlands.
This raises questions about the future of crypto exchanges operating within the EU, particularly as the new EU rules on crypto-assets (MiCA) are set to take effect.
I'm not expecting anything else from the Netherlands lately. I used to see this country as the land of the free, but it seems that smoking pot and selling sex can be legal while selling internet money is not (in the case of Binance).
Binance, the world's leading exchange by trading volume, has held this position for several years. Therefore, the attention from virtual asset service providers (VASPs) towards it is nothing out of the ordinary, once you understand how these VASPs function.
The crypto game is gaining traction, and the battle for supremacy is becoming harder and noisier. While the SEC's attack on Coinbase and Binance US didn't make much sense at first, it now does...
BlackRock, the worlds largest asset manager, has filed an application for a spot Bitcoin ETF (exchange-traded fund).
In their pursuit of a Bitcoin ETF, BlackRock has chosen Coinbase Custody as their trusted custodial solution. The proposed ETF will be benchmarked against indices provided by CF Benchmarks. The indices will be comprised of price data from six exchanges: Coinbase, Kraken, Gemini, Bitstamp, itBit, and LMAX Digital. source
Many of you are probably aware that the SEC has not yet approved any spot ETF in the US. However, for those familiar with BlackRock, there's no doubt that the dinosaurs (referring to the SEC) regulating the US markets will likely approve BlackRock's Bitcoin ETF as the first.
What many people don't know about BlackRock is that this colossal investment fund has been using AI (Alladin) for many years to expand its wealth. Furthermore, it is a major stockholder in companies such as Alphabet, Apple, Microsoft, IBM, Facebook, and AT&T, along with a cohort of media outlets.
BlackRock is enormous, and when something is that huge, it knows no limits. BlackRock represents the establishment, and the banks, in conjunction with BlackRock, are currently accumulating Bitcoin (as evidenced by this tweet: link to the tweet). While the media, owned by these financial moguls, is criticizing Bitcoin and crypto companies like Binance and Coinbase, these moguls are quietly accumulating through investment funds like MicroStrategy, which has a significant investment in Bitcoin.
Allow me to share a post I wrote a few weeks ago titled Scared Money Don't Make Money. In that post, I explained why I believe the current so-called crypto crash is intentionally orchestrated by large players to acquire undervalued coins from frightened investors.
Consider this: If BTC were truly on the verge of falling below $20k, would BlackRock and Bank of America be purchasing MicroStrategy shares at this moment? These individuals don't make investments based on guesswork; they are skilled money-makers. Their primary objective is to keep you as impoverished and controllable as possible while they increase their ownership and influence at any cost.
I don't know about you, but my gut feeling tells me that we're on the brink of a massive reversal in crypto. It's just that some whales needed to accumulate even more before speaking positively about Bitcoin once again through their controlled media outlets. It's a damn shame that in every cycle, many people fail to learn their lesson.
Thanks for your attention, Adrian
