Morning Market Download from Invincible Money 

Personal finance + economics + markets 

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

Today we're focused on crypto because so much is happening, especially given the U.S. House crypto hearing. If you like today's newsletter that's more focused, reply to this email and let me know.Crypto EconomyReal World Assets are coming to crypto. Actually, they're already here, but more is coming. More about that tomorrow, so stay tuned.Active daily crypto addresses are up 77% since bottoming last August, which is a sign more people are getting into crypto.

News“SEC rules make no sense for blockchain companies. You've been an incompetent cop on the beat," said Rep. Tom Emmer (R-MN) to SEC Chair Gary Gensler during a hearing about the SEC’s strategy of regulating crypto via enforcement. Many within crypto and out of crypto want Gensler gone because he's failed to provide guidance to the space and instead just brings Wells letters to major industry players.

Crypto Can Move ElsewhereCirlce's CEO (the company behind the USDC stablecoin) said, “While comprehensive, there are clearly open and challenging issues with the bill as proposed, and now is the time for our country and political leaders to really dig in and get this right."

In a recent podcast Raul Pal gave a lot of examples of countries that are welcoming crypto companies and banks and making it easy for them to do business. Coinbase CEO, Brian Armstrong, recently was welcomed by government leaders in London to discuss how they could help. He is just one of many CEOs exploring jurisdictions outside the U.S.

Remember that crypto is worldwide and decentralized, so as the U.S. makes it more difficult to operate within its jurisdiction, it'll move elsewhere to countries that welcome it.Solana just launched their much awaited Web3 phone, called Saga, which will cost $1,000, be based on Android 13 with 512 GB of storage, 12 GB of RAM and a pretty good camera. It will come with seed vaults tied to your biometric signature and built in crypto capability, like sending and receiving, trading and storing crypto.

CryptoLess than 5% of ETH has been withdrawn from staking after the Shapella upgrade last Wednesday. Why haven't more people withdrawn? Partly because about half of the staked ETH is currently underwater, so people don't want withdraw and sell at a loss.

Also, the staked ETH makes up only 15% of total ETH's circulating supply, so some believe there will be an increase in staking, not a decrease. Lastly, as I said last week, those who were willing to stake their ETH for an unknown length of time are probably less likely to sell now or anytime soon.

Next up for ETH on the roadmap is the Surge, as outlined by Vitalik Buterin. This will happen at the end of 2023 or beginning for 2024 and will focus on scaling the network through "danksharding," which divides large chunks of data into smaller ones to be processed more quickly. The goal is to increase the number of transactions per second from the current 30 up to 100,000!

Here's the roadmap if you want to dig into it:

Be a Better Investor

Get Smarter

Here are 10 things that an older investor might wish they knew when they were 20:

1. The power of compounding: Starting early and consistently investing can result in significant growth over time.

2. The importance of diversification: Investing in a variety of asset classes can help reduce risk and volatility.

3. The impact of fees: High fees can eat away at investment returns over time, so it's important to pay attention to them.

4. The value of a long-term perspective: Market fluctuations and short-term volatility are normal, but the market tends to rise over the long term.

5. The role of asset allocation: Choosing the right mix of assets based on personal goals and risk tolerance is crucial.

6. The benefits of dollar-cost averaging: Investing a fixed amount on a regular basis can help smooth out the effects of market volatility.

7. The importance of saving for retirement: Starting to save for retirement early and consistently can help ensure a comfortable retirement.

8. The role of taxes: Understanding the tax implications of different investments can help optimize returns.

9. The impact of inflation: Over time, inflation can erode the purchasing power of investments, so it's important to factor it into investment decisions.

10. The value of seeking professional advice: Consulting with a financial advisor or other investment professional can provide valuable guidance and help avoid costly mistakes.

What would you add to this list? Email me your suggestions to share in a future newsletter.

Legal StuffNothing in this newsletter is financial advice. Always do your own research and think for yourself.