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Proposed SEC order to freeze, repatriate Binance.US assets

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Re: Proposed SEC order to freeze, repatriate Binance.US assets

#31

Post by tacticus »

px43 wrote: post #19
tararara wrote: post #6

Earlier quoted context omitted.

Do you have any insights into why they act like this? Is it the founders vision?

Coinbase acts like this because it was founded from day one to serve the US market, and everything that it has done has been to invest millions of dollars a year into complying with US law. Coinbase has only in the past couple months, started expanding internationally so they don't die immediately in case the US regulatory system decides to cannibalize them. Binance acts like this because complying with US law is rid…

> Binance cares most about serving the remaining 95% of humanity that does not live in the US.

That totally explains why they put so much effort into catering for US whales.

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#33

Post by elkos »

redleader55 wrote: post #22
WatchDog wrote: post #16

This is good for bitcoin.

If you can't exchange it for fiat, its USD value is going to decrease - bad. If you can't exchange it, payments that don't use fiat might be developed - good, imo. Why do you think this makes it a net good?

i think it is a meme!

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#34

Post by Vervious »

andrewstuart2 wrote: post #27
redleader55 wrote: post #22

Earlier quoted context omitted.

If you can't exchange it for fiat, its USD value is going to decrease - bad. If you can't exchange it, payments that don't use fiat might be developed - good, imo. Why do you think this makes it a net good?

Pretty sure they're referencing the meme that everything is good for bitcoin even when it's very clearly bad.

the op seems very unironic about it though

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#35

Post by tylersmith »

silisili wrote: post #17

I'm pretty anti-crypto, but tested the water with Voyager USDC because of the absurd APY. Took my money and ran when Celsius hinted at having issues, luckily. Funnily enough there was some amount, less than a dollar IIRC, left in Voyager when they folded. I received an email telling me it was being taken over by...Binance. Never bothered to login and even check it. Guess it really is scams all the way down.

Where in this story did you get scammed?

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#36

Post by lvl102 »

Bitcoin solves this.

Sorry I just had to. I think crypto as an investable asset class is finished. SEC is sending a very clear signal here. It’s entirely the community’s fault for failing to properly manage this space. They actually earned public’s trust (sometime during the pandemic). And then they threw it all away for a few bucks.

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#37

Post by px43 »

silisili wrote: post #17

I'm pretty anti-crypto, but tested the water with Voyager USDC because of the absurd APY. Took my money and ran when Celsius hinted at having issues, luckily. Funnily enough there was some amount, less than a dollar IIRC, left in Voyager when they folded. I received an email telling me it was being taken over by...Binance. Never bothered to login and even check it. Guess it really is scams all the way down.

Binance has basically been the JP Morgan of crypto firms. When these crypto companies die, often due (at least in part) to some attack from Binance, Binance will swoop in and buy them up cheap.

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#38

Post by politician »

ren_engineer wrote: post #10
allears wrote: post #4

Well, there goes crypto. With this precedent, Coinbase is next. Bitcoin will probably survive, but the landscape will change radically.

all of this conveniently happening right before FedNow goes live in July and after the debt ceiling got suspended until 2025

Don’t forget the CBDC reports that are coming due about now.

Re: Proposed SEC order to freeze, repatriate Binance.US assets

#40

Post by samstave »

tylersmith wrote: post #35
silisili wrote: post #17

I'm pretty anti-crypto, but tested the water with Voyager USDC because of the absurd APY. Took my money and ran when Celsius hinted at having issues, luckily. Funnily enough there was some amount, less than a dollar IIRC, left in Voyager when they folded. I received an email telling me it was being taken over by...Binance. Never bothered to login and even check it. Guess it really is scams all the way down.

Where in this story did you get scammed?

He is just saying that the whole stack is a scam/scammy - not necessarily that he got scammed
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