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SEC asks for emergency order to freeze Binance US assets anywhere in the world

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Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#171

Post by thryg »

politician wrote: post #103
thryg wrote: post #95

Earlier quoted context omitted.

Of course not but the same users would blame the SEC when they loose money. Just like silicon valley bank depositors

SVB went down due to the Fed’s aggressive interest rate hikes that left their loan portfolio underwater. “Management” or Any other explanation is pure propaganda, especially considering how it happened to FRB and how the government responded by implicitly guaranteeing every depositor in the banking system. Is every bank mismanaged? It was Kremlin levels of double talk.

Everyone knew interest rates would go up at some point in the near future. SVB management didn't care about it.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#172

Post by robocat »

ninepoints wrote: post #99
matheusmoreira wrote: post #34

Earlier quoted context omitted.

It's really not any different than traditional cash. "Not your cash, not your money" also holds true. Storing lots of cash at home is even more difficult and risky. Keep your money at the bank? The govern can simply turn off your money for any reason. You're literally posting in a thread about the US government seeking to freeze Binance's accounts.

> The govern can simply turn off your money for any reason. This obviously happens so often /s

Find “ el corralito” in this article: https://www.freethink.com/hard-tech/crypto-argentina-black-m...

The article explains why cryptocurrencies are in use in Argentina despite the risks: mostly because Pesos or USD can have worse risks.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#173

Post by marcell »

thryg wrote: post #95
marcell wrote: post #91

Under SEC logic, this action is meant to protect the users of Binance US who. According to SEC logic, those users the victims of malfeasance by Binance US and it's decuitful, fraudulent actions. I would ask: is there even a single Binance US user that wants the SEC to take custody of their assets? instead of sticking with Binance US?

Of course not but the same users would blame the SEC when they loose money. Just like silicon valley bank depositors

Can you point to a single semi-prominent crypto person who has blamed to SEC for losing their funds?

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#174

Post by crtified »

pid-1 wrote: post #164
crtified wrote: post #54

Earlier quoted context omitted.

It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023. " How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ....... ? " In Bitcoin's case, it needs be remembered that: * Bitcoin as the original (and, in some ways, le…

> It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023. > "How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ..... The progression was completely logical. Central banks deployed trillions in QE. Market participants…

I agree.

Remove the double-negative in my phrase "no more illogical", and my argument is that there is logical cause-and-effect in both situations, despite the easy potential for assuming a different outcome based upon select, surface assumptions.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#176

Post by BLKNSLVR »

vkou wrote: post #22

As the saying goes, this is good[1] for Bitcoin... As people are buying it, presumably in order to be able to flee their Binance positions. Nothing breeds confidence in the ecosystem like the world's largest exchange getting its funds frozen. [1] When it'll drop in price, I'll be here to provide different post-hoc justification for why that market swing happened. Tune in tomorrow, as the SEC keeps unraveling this rat…

To be fair, this has been allowed to grow into a rat's nest by a decade of ignorance and inaction on something that obviously needed attention and action by these authorities that have, only as a result of the FTX, Celsius, Voyager, and BlockFi debacles, been woken from their hibernation-deep slumber.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#177

Post by lost_tourist »

EA-3167 wrote: post #5

Once again the use-case for crypto turns out to be... large scale criminality and fraud. Shocker.

or the US government is just afraid of not being able to easily track all monetary transactions legal and illegal. Big brother needs to see all in order to control all.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#178

Post by [deleted] »

EA-3167 wrote: post #10
yieldcrv wrote: post #9

Earlier quoted context omitted.

“a” use case that is indistinguishable and unquantifiable from use cases you respect which is a major difference from “the” use case and just a use case for that company, which in any other industry we would talk about the company’s behavior not the entire asset class and industry, I find it disingenuous to have that “use case” auto reply on any article that happens to be about crypto but is really about a company

That was an "ok" argument maybe 5-8 years ago, now there's too much evidence that no legitimate use case exists, and every alleged one turns out to be a fraud or a get-rich-quick scheme.

[deleted]

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#179

Post by lost_tourist »

berkle4455 wrote: post #65
thelastparadise wrote: post #24

The quality of discourse at this stage of the thread (2 hours, 20 comments) is incredibly disappointing. Hn usually has high quality discussions. What is it about crypto that causes us to lose our minds?

We’re sick of seeing frontpage news about the latest crypto scam and fallout.

Yeah but these are the two biggest bros in the btc universe.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#180

Post by lost_tourist »

smolder wrote: post #141
ahahahahah wrote: post #70

Earlier quoted context omitted.

> Hn usually has high quality discussions. It doesn't.

Relative to other pseudonymous links-with-comments aggregation stations, I think it very much does.

Exactly, relative to other sites like reddit and 4chan and wallstreet journal comments.
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