By failing to create an ETF for #bitcoin, the SEC:
- allowed the grayscale -> GBTC trade to rip retail for 5+yrs
- created the GBTC negative premium
- forced most crypto trading outside US jurisdiction
- let FTX's fraud hit millions of Americans it shouldn't have
Ouch.
You're incorrect, @SenWarren. CZ pleaded guilty to violating the Bank Secrecy Act by failing to maintain an effective AML program, not money laundering.
Without minimizing the severity of that, he's the only person ever to receive jail time solely for this violation, while
CZ pleaded guilty to a criminal money laundering charge and was sentenced to prison.
But then he financed President Trump’s stablecoin and lobbied for a pardon.
Today, he got it.
If Congress does not stop this kind of corruption, it owns it.
Readers added context
CZ pleaded guilty to violating the Bank Secrecy Act for failing to implement an effective anti-money laundering program. He did not plead guilty to money laundering.
justice.gov/archives/opa/p…cnbc.com/2023/11/21/bin…
This was planned. The Dems are instantly throwing Biden under the bus on every channel. This is not normal. If you didn't believe there was election interference before, you should now.
Trying something new – some thoughts from me on the events (specifically the release of the Hinman documents) of this week. For me, this has all had a personal bent to it - and felt like it warranted some personal comments.
As the world's largest and oldest digital custodian, @bitgo, with hundreds of exchange clients and hundreds of institutional clients, I believe our data forecasts that crypto winter is over. 2019 will be a strong year.
I can’t express enough how upsetting this Fortress Trust episode is to me. I really don’t want to talk about it at all, because it actually has nothing to do with BitGo. But because Fortress was not forthcoming about what actually did happen, we are now indirectly affected -
🚩🚩🚩Ripple (which now owns Fortress) says there was a loss of funds even though Fortress explicitly said there were no funds lost. 🚩🚩🚩
x.com/Fortress_io/st…
We should stop using the term "sexual assault". It belittles the crime with murkiness, as "assault" can refer to a broader range of bad but lesser crimes. This was rape.
The reason people are so shocked by Bitcoin price is because we think we understand static supply but we don't. For centuries, humans thought various monies were effectively fixed supply. But they were not. Not even gold. And as the value of a money goes up, the temptation
