Austin Campbell
@CampbellJAustin
Followers
9,054
Following
1,377
Media
124
Statuses
4,298
Founder of Zero Knowledge Consulting, teaches @Columbia_biz , fmr @jpmorgan , @citi , Stone Ridge, @paxos . Stablecoin expert(?).
New York
Joined February 2023
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
Kendrick
• 498242 Tweets
Drake
• 467320 Tweets
Rio Grande do Sul
• 255048 Tweets
ONGSASUN LOVEBIRDS
• 247164 Tweets
Ole Miss
• 102287 Tweets
Reus
• 78091 Tweets
Sony
• 65258 Tweets
#الهلال_التعاون
• 65189 Tweets
猫の恩返し
• 45372 Tweets
ウズベキスタン
• 31690 Tweets
#MIvsKKR
• 20718 Tweets
Leclerc
• 20136 Tweets
Al Green
• 16685 Tweets
Hope Hicks
• 16213 Tweets
Odell
• 14474 Tweets
ブライアン
• 13121 Tweets
Lorca
• 10151 Tweets
"Fuck the SEC"
I am sure you are used to this sentiment coming from the crypto folks, but what if I told you that it was not, in fact, the crypto crowd that just said this, but rather a federal judge in Utah. Don't believe me? Read on.
For those who have forgotten, among the…
171
617
2K
I just had a profoundly depressing dinner with one of my friends in the crypto space. I can't say too much about who this is, other than that he's former military in a nation very friendly to the United States and someone who firmly believes in financial inclusion and fairness.…
275
434
1K
The LBRY settlement is a picture-perfect example of how not to regulate, and should be considered a national scandal.
With
@HesterPeirce
's statement today, I feel that I should finally weigh in on this one, to make clear just how wildly egregious the conduct of the SEC was in…
76
401
1K
I never thought I would see the day when Elizabeth Warren became a proud champion of big banks.
Yet today is that day. Imagine going back to the Occupy Wall Street protestors in Zucotti park and showing them what I have in my hands right now. What is that, you ask?
I am…
64
266
1K
I did, in fact, say all of these things for the Congressional record.
The simple case for the U.S. to embrace stablecoins, delivered by
@CampbellJAustin
's in the House Financial Services Cmte hearing yesterday
84
429
2K
78
116
923
Today, the SEC appears to have continued their ongoing crusade to protect terrorist funding and large bank monopolies at the expense of the American consumer, innocent civilians in warzones, and technology that was created after the year 1940.
I want to be clear that I'm not…
40
238
842
1/ On the topic of the SEC response to Coinbase today, I wanted to try to cut through the noise to get to some of the salient points for those in the ecosystem based on what the SEC has been willing to put in writing. Note that this is my first impression of the thing after
33
139
727
This seems particularly evil from the IMF. People are fleeing the Argentine local system into dollar-backed stablecoins and crypto assets because of how bad the local system is.
To condition a bailout on locking people into that is monstrous.
65
148
747
As someone who works in crypto, but has a background in both reinsurance and tradfi, I have some views here. To give a little background, I've been involved in the tokenization of assets at scale, I've traded all kinds of fixed income, and I've managed one of the largest ILS…
We’ve gotten RWAs all wrong.
The future of RWAs aren’t copy-paste of tradfi assets, inheriting the inefficiencies of the old system.
The RWA mega-protocols of 2030 will leapfrog tired off-chain infrastructure and:
A) Solve an actual, non-fugazi non-legerdemain problem for…
84
101
663
96
114
731
The SEC is once again showing their hand, as they are disclosing today that their enforcement crusade against crypto is also a sideshow to distract against their lack of pursuing cases against traditional financial firms.
Why do I say this?
From the SIFMA conference today where…
32
162
600
As predicted, innovation in stablecoins is moving offshore.
The US government and banking regulators have created this paradigm, where we have less control over distribution, regulation, and rules, but the products will still exist and scale.
56
114
567
For those who were telling me I was being unfair to the
@SECGov
earlier, please read this entire document.
The SEC lied in court, and doubled down when the judge noticed.
Why should any American trust the SEC or believe they act in good faith after this?
"The Commission’s above-discussed conduct constitutes a gross abuse of the power entrusted to it by Congress and substantially undermined the integrity of these proceedings and the judicial process... The operation of the American judicial system rests on the fundamental…
67
313
2K
25
107
562
I have in my grubby little paws the latest proposal, dated from today, that Treasury has sent to the Senate Banking committee, and boy, do I have thoughts.
To summarize for the crowd, Treasury is asking for an unprecedented level of expansion of their powers in order to combat…
52
149
537
Am I crazy or did Better Markets really just publish a screed, replete with typos, urging the SEC to literally ignore a federal judge and the law and do what they want anyways?
Better Markets now dropping their comment on why the SEC should deny.
Arguing that the
@Grayscale
court decision "should not compel the SEC to deviate from its previous well-grounded decision disapproving multiple spot Bitcoin-based ETPs"
159
47
365
55
65
512
If you think this is a joke, I have been in a meeting with the SEC where almost exactly this happened.
$100s of millions of investment money and tons of high paying jobs are leaving the US and founders aren't just refusing to return, but actively distrust the US and its law now
SEC Cmrs
@HesterPeirce
and
@UyedaMark
w/ a 🔥dissent on the
@ShapeShift
settlement.
Namely, that the SEC:
1) doesn’t specify which of the 79 assets might constitute investment contracts
2) doesn’t allege any fraud or consumer harm occurred
What it’s like for a crypto startup:
28
62
401
27
106
500
@SoftBoobie5
@EFF
“If” is doing so much work here. If you had 100% accuracy and no false positives? Maybe. Is that anywhere close to reality? No. We are at levels of “if” nobody ever got injured or killed in the French Revolution here.
2
1
483
More of people misunderstanding the market. This strikes me as peak navel-gazing US exceptionalism and abject denial of reality. Here is the truth, with apologies to all the Tether truthers that have been losing many many millions of dollars shorting an “obvious” fraud:
1 -…
Matt Levine today covers USDC and Tether, which are differentials exposed to the substrates underlying their stablecoins, because USDC is backed by money and Tether by “a mystery.”
Value has (purportedly) flowed into Tether since the FTX collapse, and actual money out of USDC.
16
14
163
54
92
468
It's a good thing the SEC hasn't been running around lying in Federal court and committing perjury, or it would be pretty difficult to take this seriously.
Oh wait.
There is a lot of noncompliance in the crypto space. It undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court. Further, this can make it hard for the good faith actors to compete.
3K
400
2K
17
76
437
It is worth noting that the SEC failed to stop or impede any of Mt Gox, Terraform labs, Celsius, Blockfi, or FTX but have inexplicably gone after LBRY, Coinbase, and XRP, none of whom have committed fraud or deliberately damaged consumers.
This stance by the Ds is not credible.
The Republican market structure bill otherwise known as the “Not Fit for the 21st Century Act” is a rushed piece of legislation that:
🚩 lacks adequate funding
🚩 creates MORE confusion & complexities
🚩 hamstrings efforts to go after bad actors
🚩 lets crypto criminals off the…
56
13
12
31
107
432
I keep hearing people talk about onboarding 1 billion crypto users, but a reality check for people:
Almost nothing in crypto is usable by normal people right now.
We need a massive improvement in UI/UX, safety, and abstracting away the crypto parts to achieve this.
103
34
410
With apologies to my friend
@nic__carter
and
@CryptoHayes
, this is not a great design for long-term stability.
So first, let's talk about the mechanics of what is going on with Ethena.
In a traditional crypto-backed stablecoin, what you have is a pile of collateral that is…
48
65
416
When I said earlier that Elizabeth Warren was in the pocket of the banks, this is why.
All Americans should be outraged that banks, which are the main facilitators of money laundering to terrorist groups, are using that as a fake concern to entrench their monopolies.
Who could be so brazen as to write legislation that would effectively ban
#crypto
?
Senator
@RogerMarshallMD
, the GOP frontman of the crypto ban bill, revealed the American Bankers Association wrote it.
#StopCryptoBan
253
504
2K
11
64
383
Read the entire document, if you want to know why I called this out before, and why I have specifically stated that the SEC is in a different category than all other Federal regulators.
The SEC lied in court, destroyed lives, and was essentially at the center of a criminal…
The first reply brief by the Debt Box defendants has been filed, and it's a doozy! It's an important to read because the personal consequences (including several families unexpectedly visited at their homes by armed men) are chilling.
88
213
786
33
106
369
They won’t stop attacking crypto until their supporters actually turn on them.
I now refuse to vote for any anti-crypto politician (meaning if Biden is the nominee I will not vote for him despite being a Dem).
33
45
360
One thing I would urge people to do, in the wake of the Stablecoin bill making it to the House floor, is to pay attention to what is really going on.
Despite all the social media screaming about polarization, despite the claims we cannot act, here we have a historic chance to…
18
52
347
1/ I told my class yesterday that MiCA might be the most significant development in crypto for the next two years. If the details work out (always TBD as they implement), the EU has created a framework to formalize how crypto works in the largest economic block to effect such
16
51
341
“SEC believes act written before the existence of the internet clearly spells out requirements for crypto exchanges”
That is basically the headline today given that the SEC has rejected Coinbase’s application for rule making. There are several points to dig into here, so I want…
24
67
298
I want to be clear that this is an absolutely insane clown tier take, and
@SMTuffy
is 100% correct to call this out.
The customer deposits DID NOT EXIST. They had been either stolen (for personal use, or to give to politicians), or they had been converted into things that were…
“They had a great real business. If no one had cast aspersions on the business, if there hadn’t been a run on customers deposits, they’d still be making tones of money”
ARE YOU FUCKING KIDDING ME!!!
513
436
4K
16
50
332
Absolute clown tier take.
They missed FTX, 3AC, Celsius, and LUNA and are now attacking
@coinbase
, likely the best actor in the space.
I couldn’t have hurt consumers more than the SEC if I tried.
@RepDanGoldman
You’ve lost my vote and a lot others if you don’t fight this.
20
63
314
This pathetic security theater is driving young people out of the Democratic party.
They aren't stupid. This bill does not apply the same AML rules. If it did, then your web browser would have to KYC you to visit Ebay, and your car would have to KYC you to drive to the store.
A new
@USGAO
report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security.
It’s time for crypto to follow the same anti-money laundering rules as everyone else. I’ve got a bill to make it happen.
3K
487
2K
15
42
315
@DLNewsInfo
Maybe this will be the thing that finally makes smart contracts work properly on Cardano
15
7
310
To pile on here, this is the equivalent of saying cash should be illegal.
To be clear, Elizabeth Warren is arguing for the sort of bank-captured surveillance state that would make the large banks into extremely powerful monopolies and allow Washington to exceed China in spying.
Casting “non-custodial wallets” as illegitimate technology is not just misleading, it is a gross denial of the human right to property.
Self-custody is guaranteed by Article 17 of the Universal Declaration of Human Rights and the Fifth Amendment of the U.S. Constitution.
45
128
757
17
59
311
This sort of thing is exactly how we know the SEC is not acting in good faith.
There are tokens that probably are securities here and there, but... everything?
So the SEC thinks PAXG (tokenized gold) and Doge are securities? Embarrassing.
25
38
304
So I am reading the Lummis-Gillibrand stablecoin draft and one of the things that makes it really, really hard for me to be optimistic about these efforts sometimes is when there are catastrophic basic failures within these bills that I know are based upon things the folks in the…
59
61
288
@ClimateDefiance
You know you are profound failures when you make the large bank the good guy.
2
2
281
It’s inexplicable to me to watch democrats, allegedly the party of the young and anti-large bank, embrace a massively anti-technology and massively pro-big-bank stance.
A vote for Biden is a vote for Warren, apparently.
Something to remember in 2024.
10
21
200
22
37
286
This is literally the opposite of a serious blow to the crypto space.
This is a serious blow to scammers, frauds, and bad actors, and a serious positive for those who actually care about the space.
.
@TheJusticeDept
has charged
@SafeMoon
's executive team with a massive fraud scheme.
Allegations include misappropriation of funds for personal gains.
It’s a serious blow to the crypto space.
203
53
299
7
27
287
3/ make up their mind on rules is quite a statement. What this means is simple: if you are doing a project that wants legal clarity and a sane, disclosed, reasonable legal regime, you 100% should not base your project in the United States. My early indications are that more than
2
12
277
If shoddy work of such poor quality that I would fail one of my students for this sort of effort is all the ECB can manage, it really makes me question if they are competent enough to manage a trans-national currency and monetary system.
Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues
#TheECBBlog
9K
1K
5K
22
31
281
Sounds like your agency might need an entirely new rules framework to address these novel technological risks you seem incapable of handling before you should be allowed to continue to operate in the United States?
The
@SECGov
twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
28K
11K
31K
7
36
260
Watching the stablecoin hearing blow up over behind the scenes machinations to try to assert Federal only control over the space is mind-blowing.
This sort of issue is precisely why the US is positioned to completely lose control of the financial rails used for global…
12
61
253
To be clear, same activity, same rules would mean anyone doing cash transactions would have to KYC you as that is self-custodial.
Raise your hand if you think your local deli should have to onboard you and verify your source of income and SSN/EIN to buy a sandwich.
on
@business
today, sen. warren again misled about the digital asset AML act (DAAMLA)
contrary to her assertion, the USA crypto industry DOES abide by AML/KYC rules
her bill doesn’t target the “industry” it targets non-custodial, P2P software run by american citizens
71
115
527
20
57
247
2/ some review, but that subsequent actions or commentary could change this. With that said, here are my takeaways.
First: if you are in the digital asset space, the SEC does not intend to give you clarity. The refusal to make rules and almost indefinite timeline for them to
4
12
238
I have said many times that public blockchains will prove to be a more, not less, effective tool for fighting financial crime.
Here is actual evidence of that, but some politicians still prefer a private, opaque system where people can get away with crime.
Makes you think...
liz warren's expectation: hardened terrorists raised $130m+ in crypto to fund their operations
reality of terrorist financing with blockchains:
45
180
1K
10
51
216
This is the correct legal action to take in response to the
@SECGov
overreach on crypto.
If they are going to purport to regulate the entire space via undisclosed rules and enforcement, there is a procedure for dealing with that. You challenge them, pre-enforcement, in court on…
The SEC has abandoned all pretense of fairly and impartially applying the securities laws to crypto.
The courts fix this.
That's why
@fund_defi
and
@bebacollection
sued the SEC today to clarify that free airdrops aren't securities offerings.
Learn more about the case here 👇
20
130
753
15
37
240
Here I will strongly disagree.
By way of background, I've run fixed income trading desks handling funky derivatives and bonds on the street, I've been a portfolio manager for one of the largest ILS funds in the world, and I've run the reserves for a large stablecoin and been a…
That's why the "crypto industry" doesn't merit new rules or regulations. The set of functionalities that have been exported to blockchain space – banking, finance, gambling, payments, etc – can be regulated along the same lines as they always have been.
16
8
29
20
45
237
So the SEC is suing Binance closer to a full year after FTX went down than not on a still undisclosed theory of tokens being securities, after cozying up to FTX and missing Celsius, BlockFi, and Terra, and we're supposed to have faith they know how to protect investors?
16
41
233
It's important not to think crypto is fully partisan. If you are on the D side of the aisle, support all of these Representatives for doing the right thing.
@jahimes
@RepRitchie
@RepJoshG
@RepHorsford
@RepWileyNickel
@pettersen4co
Well done, all of you.
@twobitidiot
The 6 Democrats were:
1) Himes (D-CT)
2) Torres (D-NY)
3) Gottheimer (D-NJ)
4) Horsford (D-NV)
5) Nickel (D-NC)
6) Petterson (D-CO)
13
16
219
15
43
237
10/ proliferate, the US will be playing from far behind the pack and having destroyed a lot of trust with companies, many of whom may not come back even if things change.
15
5
236
So I am listening to the Tucker Carlson interview of Putin; in some ways, this reminds me very much of Larry King, who used to let people speak, even unpopular people, so you could see how they thought about the world.
The fact that Putin thinks Russia's ancestral claim to…
37
13
232
SEC = Severely Endangering Customers ?
There is a good argument that the SEC caused FTX by blocking responsible, regulated actors from custody and forcing people to shady offshore providers.
Literally the opposite of consumer protection.
.
@SECGov
has virtually locked out the most regulated institutions from serving as custodians for digital assets. It’s time to roll back SAB 121 and to stop
@GaryGensler
’s overreach.
80
218
851
9
32
224
Interesting to see the SEC dealt a partial loss that also badly wounds their case against exchanges at the same time the banking regulators and congress are looking hard at the core technology and innovation to move forward instead. Ships heading different directions.
12
28
229
My friend Adam, CEO of
@inca_digital
, testified in front of Congress today on the exact topic of the controversy currently raging with the false reporting of crypto money laundering and Senator Warren seizing upon this in her unceasing crusade to ensure America cannot benefit…
4
57
209
We need to stop lying about things.
One of the persistent problems we have in the crypto space is obfuscation of what is actually occurring. For an industry allegedly founded on transparency and self-sovereignty, there is a shocking degree of opacity, centralization, and (unduly…
22
48
221
As a Democrat, here’s a great example of someone we need to primary and get rid of.
This is incoherent and incredibly destructive to financial inclusion, breaking bank oligopolies, and destroying the power of the dollar.
@twobitidiot
Unfortunately, Republicans put forward another extreme bill that prioritizes crypto over cash and profits over people.
This is unacceptable, and it's just not good policy.
262
24
91
15
28
222
To reinforce
@lex_node
here, and emphasize
@HesterPeirce
's points, I have witnessed all of the following:
Lawyers advising crypto clients to never have any contact with the SEC, never assist, never help, and never comply without being forced to via subpoena or court proceeding…
7
46
220
Future
@haydenzadams
are already building in Dubai or Singapore, to be brutally honest.
This is something the US gov't has truly dropped the ball on. The 2023-2024 cycle of crypto founders are already largely offshore. Now the US just has to pray we can fix this fast enough to…
The SEC is pushing the best founders offshore.
Hayden built Uniswap from Brooklyn. The US government is now telling future Haydens to go build in Dubai or Singapore.
This has to change soon or we'll crush innovation for years.
100
273
2K
19
35
217
For those who disliked US hegemony, you are going to dislike what comes next even more.
16
25
221
@nntaleb
His statement is not even legally correct! Vanguard and Blackrock manage those funds on behalf of investors. The investors are the owners! This is like saying a parking garage chain is the largest owner of automobiles in the world.
17
3
214
Ah yes, the "dire externalities" of:
1 - Being able to trade and settle without counterparty credit risk, solving one of the biggest pain points contributing to 2008
2 - Being able to trace on-chain exposure so we'd know AIG sold too much CDS before it happened
3 - Being able…
14
64
209
7/ if a judge decides there were not clear rules. I think this is probably a boon to those thinking about fair notice and administrative law defenses. "You're guilty for violating rules we won't make or legacy rules that don't clearly apply" is not the greatest starting point
1
6
206
A quick breakfast before heading to the House for the stablecoin hearing. Looking forward to seeing
@ddisparte
and
@jchervinsky
. Wish us all luck - it’s important for the United States that we get this right.
28
5
211
4/ one VC firm who is notable in the space have come to the same conclusion, and that the SEC's actions here are likely to be incredibly negative for capital formation and innovation in the United States, but incredibly positive for those things outside the United States, as
1
7
204
5/ this puts the EU (with MiCA), JP, SG, Bermuda, the UAE, and others on much stronger footing in the global competition for talent + capital + good legal governance. The impact is likely to not be limited to crypto native companies, btu rather any fintech or payments company
5
11
199
I can't name names, but I am hearing the same from someone else in the space.
I think this sentiment is going to spread materially after the Debt Box fiasco.
It's one thing to fight hard in good faith. It's another for the Federal regulator to actually be criminals themselves.
10
27
203
1/ Strong disagree. I agree they are no great innovation (that is the blockchain), but this incessant idea that somehow there is no KYC for fiat-backed stablecoins is profoundly incorrect.
This over-romanticizes stablecoins as a revolutionary technology. What makes stablecoins so popular isn't the tech, but the fact that they use regulatory arbitrage to avoid most KYC obligations.
How else can you send $10 million across the world without having to submit ID?
27
17
88
11
43
195
Great job going after FTX, Terra, Celsius, and 3AC before they harmed investors, then.
Wait you did none of that and you're going after Coinbase.
10
23
199
I want to be clear that the actions of US regulators are the cause of, not the solution to, this issue.
By cracking down on legitimate players in the US, like the banks who served crypto and the regulated stablecoins with better KYC/AML controls who were trying to do the right…
🚨 URGENT call to all US Members of Congress:
I am writing to express grave concern over the widely reported use of cryptocurrencies, crypto exchanges and certain banks in financing activities by entities such as Hamas and Iran, which may have contributed to the horrifying…
132
48
174
5
24
200
6/ engaging in major initiatives will be swept up as well.
Second, I think this will come back to haunt the SEC in court, though I think it will be very slow to manifest. Suing crypto companies is far more difficult if you are simultaneously refusing to engage in rulemaking
1
10
190
I agree with Sam that the pushback against Warren was critical here, but let's also not just give credit to anons (though they deserve it for raising such hell):
@nic__carter
absolutely put the
@WSJ
on blast for this one, and it was well deserved (sorry
@Vlajournaliste
)…
Of note: Sen. Warren has quietly abandoned the debunked claim that Hamas raised $130 million in crypto.
She keeps it vague here by simply saying "millions.” A small but important victory.
Just goes to show that the noise you anons make really can push the needle 🫡
41
61
491
11
32
189
I've been saying this for a while, and I know
@CaitlinLong_
has too.
We have two options:
1 - US Dollar Stablecoins in the US
2 - US Dollar Stablecoins outside the US
Right now, as a nation, we are choosing 2. Basically repeating the sins of the eurodollar market. Why!?
QUIET PART OUT LOUD: they're rightly worried abt Hong Kong via USD stablecoins becoming a hub for USD clearing that's outside US's reach, while the US dithers. But it's not just HK. Obvious fast path for Milei to dollarize Argentina is via USD stablecoins.
70
292
1K
17
31
189
Hey
@Pokemon
, you had better lawyer up,
@SECGov
is about to open a Pandora's box of private lawsuits for you.
To say Pokémon cards do not provide access to an ecosystem is to say you never played Pokémon. This argument to avoid sweeping them in as securities but still tag tokens is, well, absurd. Do I need to retain this author as an expert witness under Fed. R. Evid. 701?
69
148
1K
11
27
187
@davidzmorris
My prediction is the SEC wins some very narrow victories on historical implementations of staking as a service, loses the rest in part or in whole, and catastrophically loses in the court of public opinion to the point a future congress greatly reforms or deletes the SEC.
6
16
183
So I am reading the new FinCen proposal to expand AML/KYC rules to the RIA community in the United States, and I have to say this is one of those things where we really need to give up the charade on security theater.
First, having worked extensively with the RIA community when…
12
35
184
Significantly more money is laundered through the traditional financial system and is much more likely to be undetected thanks to the system being opaque.
This stance is like a 3-year-old covering their eyes to hide from someone, because if you can't see it, it's not real.
Crypto is a cancer.
Thanks for helping the terrorists, laser eyes.
50
16
78
9
23
184
Bitcoin ETFs are here, finally
While I have some thoughts on the saga, I want to take a moment to pause and talk about what the ETF actually represents. To that end, I'm going to start by revealing some of my own core views on the space so you know my biases before I begin.…
12
41
179
“Even $1 of funding to Hamas is too much,” I was told, in a private meeting with a good friend, to explain the antipathy of some US politicians towards crypto. This was after my previous tweet taking apart the Treasury request for additional authority, and was in the context of…
22
49
152
@machibigbrother
@zachxbt
I predict a textbook example of the Streisand effect is about to unfold. Before today I didn’t know who
@machibigbrother
was. Today I know he’s probably a scammer.
1
1
174
@JohnEDeaton1
and
@NYcryptolawyer
were early to the world where you can have a sale through an investment contract that doesn’t make the token itself a security.
Well done gentlemen.
@NYcryptolawyer
how about that embodiment theory now? The judge destroyed that nonsensical theory.
8
25
185
13
28
177
I am proud to announce that my consulting firm, Zero Knowledge Consulting, has won the bid for this absolute and complete banger of a song from
@songadaymann
.
First of all, let me thank Jonathan Mann for making this song. Obviously, the song-a-day project is a study in the value…
HUGE CONGRATS to
@CampbellJAustin
for scooping this song.
6eth, the second highest Song A Day primary sale ever.
And I want to thank all the bidders:
@vgrichina
@Kolmetuhatta
@BAYC1K
0x0871E6872f0CdEb32eb013648a76575B4d2dBa80
@jchervinsky
@worthalter
@k06a
I really appreciate…
11
8
103
11
18
177
If you have a financial interest in an outcome and post that you have a rumor without saying what the rumor is, you are part of the problem in this space.
This would be prohibited conduct in most regulated markets. I certainly would have gotten in trouble for this at JPM.
I’ve been saying if Binance blows up, we’ll be fine in no time.
Got a tip that I’ve not yet been able to fully verify but I would lean towards it being true on… and if it’s true it’ll be a longer more painful ride than I thought.
And life behind bars would be the good outcome…
553
115
1K
10
11
176
The Michael Lewis situation, to me, is a demonstration of the power of narratives and mythos over the human mind. Clearly, SBF was able to create a narrative around himself about being an altruist, trying to change the world, and being some sort of tech genius when in reality he…
12
14
170
I, for one, hope this is not dismissed.
Why?
Because if the allegation is true that the
@SECGov
sued
@krakenfx
the day after
@msantoriESQ
's testimony, I would vastly prefer this go to discovery and the SEC have to turn over every shred of communication around that decision.…
Today,
@krakenfx
responds. The SEC threatened us with this lawsuit 1 day after
@msantoriESQ
's Congressional testimony. It's purpose is simply retaliation, intimidation and harassment. The SEC continues to de-legitimize itself with every bad-faith act.
100
378
2K
5
19
170
I was early to calling out this bad conduct, but this truly reveals it was never about anything other than destroying lives and intimidating people from otherwise legal activity.
To lie in court and then, when called on it, after doing huge damage to many innocent people, be…
So let's get this straight:
The SEC lied to obtain an ex parte TRO—where defendants don't even learn about the charges
The judge finds out and is understandably pissed, starts disciplinary proceedings
The SEC drops the case to try and wriggle out of it
53
251
808
11
32
171
Let's at least tag
@RepRitchie
here for the credit he deserves. Regardless of your political views, he is worth a follow.
Representative Torres gets crypto deeply, and is willing to stand on what he believes is right regardless of political winds.
Major credit to him.
#MUSTWATCH
: Rep. Ritchie Torres champions
#FIT21
and underscores the inability of existing securities law to provide clarity for digital assets.
It is past time to change the status quo and fill the glaring gap in consumer protection present in the digital asset ecosystem.
📺👇
59
269
986
6
19
170
As an American, I hate that I agree with this take
The US’ anti-crypto efforts are typical perverse late stage empire stuff. Instead of recognizing that the world is going to be very different in fifty years, they’re trying to tighten their control through sanctions and tech bans. It’s a losing battle.
13
62
328
9
20
168
So a reporter I think very highly of sent me an email asking for some commentary about the narrative that continues to circle in the tradfi world that stablecoins are a threat to the financial system somehow, and it got me thinking. After sending a long response to her, I decided…
16
35
168
8/ for the SEC in many cases (see: Voyager).
Lastly, this should massively increase the pressure on Congress to get something done, but given that senior Democrats seem to have inexplicably thrown their lot in with the SEC, I think the reality is that the likely stasis on the
2
4
169
Let us do this properly.
Allowed
@CharlesSchwab
,
@etrade
,
@Fidelity
,
@IBKR
,
@jpmorgan
,
@MorganStanley
,
@RobinhoodApp
Banned
@Citi
,
@EdwardJones
.
@MerrillLynch
,
@UBS
,
@Vanguard_Group
If you have others or any of these are wrong, let me know and I will update.
Vanguard, Citi, Merrill, Edward Jones, UBS are all being reported to not allow clients to trade the ETF
265
450
3K
15
37
169
Blockchains are more transparent, thus we can more easily see transactions and amounts.
Let me ask the next question: how much did Hamas take in through the traditional system?
Perhaps crypto is being punished for being a better system for detecting bad activity?
8
22
166
Another data point that the SEC continues to abuse retail investors. GBTC has a multi-billion dollar discount harming retail investors, and the SEC was illegally blocking the fix.
SEC continues to illegally fight to protect rich insiders at the expense of the average investor.
🚨BREAKING: A DC Court of Appeals has GRANTED Grayscale’s petition for review to convert its GBTC Trust into a Bitcoin Spot ETF and has ordered the
@SECGov
’s order be vacated. Documents and detail to come.
75
488
2K
6
33
161