The Crapto Thread

https://twitter.com/matthewstoller/status/1665745304799391744?s=46&t=XGja5BtSraUljl_WWUrIUg

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Only 2-3 years to prepare himself for a wrist slapping. Hope he has aloe.

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the-big-short-stupid

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“They’re not confessing…they’re bragging.”

have been lifelong friends with a dude since we were six who is now somehow a hedge fund hero and in some ways is like the stanley tucci character from Margin Call in that he’s a super smart guy with a mechanical engineering degree who in a different timeline might be designing interesting nouns instead of <flutters hands at world helplessly> Anyway he became irl friends with the brad pitt character from The Big Short and I’ve hung out with him a handful of times. He’s always seemed like a nice guy and not even a tenth as paranoid awkward as in the movie, and that he got one of the moral compass lines (“just don’t fucking dance”) checks out. That said, <still sitting here fluttering hands>

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What am I supposed to be doing with my bitcoin on BinanceUS ? Are they still doing cash outs if I convert to cash?

Wash trading, comingling customer funds, operating his own trading company and sending user funds there, telling VIP clients how to evade US laws, creating “independent” BinanceUS only to control every aspect of it.

No audits, no headquarters, hiding out in Dubai (duh).

changpeng zhao is as shady as there is while appearing to be some benevolent crypto actor.

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Damn binance is going to hose me if i sell my bitcoin with this shitty new rate.

what are the courts gonna do?

  • smashing SEC success: all crypto besides bitcoin is a security
  • historic SEC success: all crypto not sufficiently decentralized to some arbitrary level (btc/eth only) is a security
  • court sides with SEC that all their named coins are securities, no other proclamation about unnamed coins or crypto in general
  • court sides with the exchanges, no other proclamation about unnamed coins or crypto in general
  • court sides with the exchanges and declares sweeping pro-crypto protections

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there’s always fun stuff to find in EmpireMan posts :heart:

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https://twitter.com/americanamemes/status/1667242397083013120?t=5V0cxmzPELgn5c6OQJOvcA&s=19

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https://www.wsj.com/articles/how-north-koreas-hacker-army-stole-3-billion-in-crypto-funding-nuclear-program-d6fe8782?mod=mhp

https://twitter.com/wolfejosh/status/1668298267468214282?t=Aduio6FmJMhrhT8K0pDJSQ&s=19

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Axie Infinity held so much promise though. Play a not fun game 18-hours/day for cash. What a great business model. Where does the cash come from? The blockchain!

I’m not sure but I think you’ll be ok. After all, the point of all this is to protect USA#1 Investors.

Well duh, he’s not White.

Did any sweet summer children here really think they were gonna let the SBF embarrassment end like that without finding some way to make the foreigner chinamans look worse in the end?

I love how the twitterbot managed to post the tweet that most makes USA#1 look like a laughingstock yet again.

They actually included Important Shitposting in an official filing like,

OMG he admit it! NO TAKESIES BACKSIES!!

- Gary Gensler, a serious man

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https://www.bloomberg.com/news/articles/2023-06-05/sec-sues-binance-and-ceo-zhao-for-breaking-us-securities-rules

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BTC over 30K. Here we go again.

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