I'm honestly curious, at first glance this looks that could potentially affect cryptocurrencies in a sizable way downwards. I checked CoinMarketCap and it seems that the trend is comparatively stable. Can someone explain this? Please do take into account that I'm not very well versed with cryptocurrencies and I usually need an explainer in several financial concepts.
Proposed SEC order to freeze, repatriate Binance.US assets
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Re: Proposed SEC order to freeze, repatriate Binance.US assets
#42Ironically, this is why we need crypto.
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#43Bitcoin 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.
We should keep a record of all the crypto failures / scams / people dying in weird ways on some sort of blockhain
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#44I'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.
Just like FTX, until November...
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#45Wonder if SBF has something to do with this in the background
He's getting off easy but he still went too far and swindled too many/the wrong people
This is probably due to dedollarization and abject terror within the americans who don't know of a pre-1956 world order
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#46Wonder if SBF has something to do with this in the background
doubt it, they already have Binance US CEO A and CEO B cooperating.
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#47I'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.
The USP of cryptocurrency is the ability to self-custody. If you sent your money to a company like Voyager, instead of controlling your keys yourself, you missed the point.
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#48[flagged]
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#49Bitcoin 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.
We should keep a record of all the crypto failures / scams / people dying in weird ways on some sort of blockhain
Fuckedcoin?
Re: Proposed SEC order to freeze, repatriate Binance.US assets
#50Bitcoin 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.
We should keep a record of all the crypto failures / scams / people dying in weird ways on some sort of blockhain
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