@GaryGensler
@SECGov
Yet you provide no guidance on how to do that, and everyone who did in good faith has been sued into business failure.
You seem to spend more time on Twitter making videos these days instead of doing your job after getting demanded by congress to provide clarity and *new* rules
@chefcowboyardee
@dieworkwear
If you want to see more retaliation, this has been going ilon for about 2 years now. Although the current theory is some fisherman probably killed a calf of the coast of Portugal.
@GaryGensler
@SECGov
To clarify why we are pissed off:
Here is an example of a law that *updated* to reflect changes in technology.
In 1901, the first speed limit law was set at... 12 miles per hour.
Imagine a world where all of interstate commerce and delivery followed that law. Imagine it
@anothercohen
I am gaining management experience by outsourcing my job to some guy in Bangladesh for 15% of my salary, and spending my day going to the gym and playing with my dog.
Follow me for more career advice.
@FSCDems
Please stop with the cringefest you and Gensler are doing.
It only further alienates a young technical voter base that's tired of gaslighting and lies, and we see right through it as evidenced by every single metric including the bank failures that happen every week under
@NipseyHoussle
At least they priced it appropriately. That same sqft in Miami is $4900 and occasionally you'll need to swim in 4 ft water to get groceries.
@CaitlinLong_
Sheesh.
I'm waiting for the next few weeks to see Florida add BTC to its treasury.
We're already hearing about Texas issuing gold backed dollars. Really up to the states here to fight against Federal control.
I still have no idea why
@DeFiSaver
is under discussed in cryptofinance.
Loop lending on money markets is in general, far cheaper than perps for major markets. I think people miss it because there isn't good UI to loop it and leverage.
@MinotaurStock
@EconReimu
@miehualb
Slight historical aside is in infinitesimal calculus dy and dx can be formal objects that have values.
The formality wasn't really derived until later though so maybe he was thinking in infinitesimal? In the formal case its still not defined to choose a denominator as zero.
@GaryGensler
@SEC_Investor_Ed
Buddy aren't you supposed to be answering Congresses questions and fighting a lawsuit?
You need to do your job instead of tweeting maybe?
@realtimeai
@quantian1
@FunctionCost
Yeah quant, definitely your worst take.
You don't get to have some moral high ground where only your kind of trading is the only one you allow. As long as everything is transparent and no fraud, adults should be allowed to do what they want.
Ok hear me out:
We should make a DAO but the interface should only be via Excel spreadsheets. Then the government would be forced to tell Microsoft every Excel instance must be KYC'd and licensed to operate.
Hilarity would ensue.
@bantg
@MayhemPayload
this is cold comfort, but if purely hobbyist probably not covered by any regulation...the issue comes up when they try to be financially rewarded in some way
@BradSherman
@GrayscaleBTC
@SECGov
Rare W and one of the first times you're acknowledging the real issues in crypto that we have been pointing out for a long time.
GBTC shouldn't exist at all anymore after the debacle and all customers should be allowed to redeem for their assets, in their own private storage.
@jchervinsky
Gets even weirder when you take into account a private agreement for manipulating state on computer network is now a security according to the SEC.
So basically lawyers need to register with the SEC if you create PDFs to send to clients. Dropbox and Google Drive are also
@TheStalwart
Because it's the easiest trial in history.
"Hey all these customers gave you money and you were supposed to buy them bitcoin. Do you have the bitcoin?"
"No, I took the money and gave it to my girlfriend and she lost it all doing derivatives trades that would make wsb think
@ModeledBehavior
@balajis
@JosephPolitano
@AlecStapp
"I don't think you know enough to say."
"You don't know what an audit is."
I'm sensing a pattern where this weird institutional thinking starts with a base level axiom is everyone *else* is dumb, and I'm smart because I was "trained" with the institutional certification.
@SenLummis
The appropriate question is why FTX over leveraged their centralized token with no backing except market maker promises from Alameda.
People learned not to keep money on Exchanges and not to use leverage. To me, free banking won and wiped out a bad actor.
@VivekGRamaswamy
@SVB_Financial
No bailouts but backstop. Businesses had their deposits with the bank, and we're now finding out SVB took their deposits and made loans and other non liquid investments. The managers and shareholders of SVB do deserve $0, but American businesses need their money back.
After the
@bantg
The RenBridge doesn't even hold funds and mix them, so I'm not even sure what the article is saying here.
It's totally amenable to traffic analysis, and transfers nearly 1-1 with assets coming in.
@cnbc
just hire some actual engineers in the crypto space to talk about things.
@DennisKelleher
@SECGov
@Zachary
@Jasper_Goodman
@declanharty
The flaw in the argument is you're applying a blanket rule such as "industry".
Blockchains are decentralized networks that are accessible by anyone with the internet. There is no "industry" here and anyone with enough skills to use Excel can create products using blockchains.
@GaryGensler
Rich coming from a man who spent his entire SEC chair position blocking public blockchain technologies that settle in 15 seconds that can service all the liquidity in the globe.
Thank you for your awful protection.
#FireGaryGensler
@indianbroeth
@ameensol
There's a bank and you want to rob it, and you notice there's a local police force with 10 guns and you get a tip they only have 10000 bullets. If a gun shoots 100 bullets a minute, you logic is all 10 guys shooting for 10 minutes, will eventually run out of bullets.
You acquire
@surviving_nyc
@mjfgates
@dieworkwear
Property which they get written off by FEMA so much the fund is bankrupt?
Sure they're buying it, then getting it subsidized by taxpayer money when it's totalled. I'd by beachfront too knowing the government will bail me out.
@NipseyHoussle
Being on both sides one thing I can't stand is the lies. If you are not meeting goals and running low on runway, you should be honest and give people a heads up 3-5 months ahead of time. Asking people to work hard for bonuses just to rugpull is garbage executive behavior.
@dystopiabreaker
Persecuted lowercase L liberals (not the political group but the overall abstract theory that citizens should do whatever they want and not follow institution programs), hating and vilifying crypto while being subservient to a banking class that hates them.
Make it make sense.
@electricdream42
@mister_shroom
I'd say logistics 101 (the part of econ actually dealing with inputs and outputs and optimization), but otherwise agree.
@CryptoHayes
@firstrepublic
C. They will kick the can down the road by creating a new IOU mechanism via debt because they neither want to realize losses or accept the fact that the entire banking business model is in shambles.
What turned out to be an interesting deep dive into uniswap v3 math has now became a cult like obsession into range positions. Thanks to
@guil_lambert
and a few other papers, I'm now a Uniswap V3 maxi.
@sassal0x
We seem to have a lot of political attention for something that was nuclear rat poison ponzi enabling just 2 years ago.
Hmm... I wonder what changed.
@SizeChad
I can suggest an equation that has the potential to impact the future:
E=mc^2 + ARB
This equation combines Einstein's famous equation E=mc?, which relates energy (E) to mass (m) and the speed of light (c), with the addition of ARB (Arbitrum). By including ARB in the equation,
@lex_node
I still don't get why lawyers aren't trying to push that generating private data isn't illegal and the money transmitter laws are unconstitutional in today's world.
Money is data now. We made internet transactions and now modern cryptography can make them private.
@GaryGensler
@SenateBanking
Getting my popcorn ready to see you get roasted on live tv for continuing to make up rules for the crypto industry while failing to protect investors from actual scams.
Going thru the list of sanctioned addys ()
Includes TC Donate address, Proxy address, Gitcoin grants address (!), TC Router, the USDC 100 pool, 100 DAI pool, 10 ETH pool, 100 ETH pool, 1,000 DAI pool -- appears to be every TC-related wallet they could find
@AlanZibel
@jp_koning
Not sure why this is considered a "win". The win condition here is two people who didn't commit a crime are somehow implicated in crime using their software. The actual criminals get away, buy the decentralized Excel program coders get to go to prison, and you think that's "win"?
@adamscochran
This was the same mentality America had during the inflation crises in the 70s with food, where the Reagan administration directed farming industry to get big for economies of scale in food production or get out.
This ended up destroying independent food production globally,
Got a chance to check out the development branch of
@openbb_finance
today.
The new upgrades are fantastic. We really are moving into a world where high quality financial research is no longer gatekept.
Democratize finance. Up only.
Crypto bros are writing thinkpieces about getting mugged in Bogota but will put their life savings in Terra with 20% APY without knowing the devs didn't disclose a previous mechanism failure.
I think you're all worried about the wrong risks.
Writing "Hidden Repression" was a powerful journey
It took me from shock, to disbelief, to shame, to optimism for a better future
I had heard criticisms about the IMF, especially its role in the global south 🧵
@mattyryze
You can visibly see them smoking in the video.
Maybe a pack a week starting at 15 with parents blowing like chimneys just ages you faster. Back then you couldn't move 30 feet without running into tobacco.
Idk not a doctor.
@lex_node
A world where the UIs have caps and KYC so there's a financial incentive to learn programming in TS/JS and Web3.js just to get access to higher yields and leverage would be hilarious as a software engineer.
@llamaonthebrink
Respectfully disagree. The problem is liquidity and the solution is always more leverage. Typical mature capital markets literally have 100x leverage.
We need to be leverage maxing. We need to be restating. We need to be repackaging and lending on the packages and re-lending on
At 2PM EST I'll be streaming doing my market rants. Of course I'll mention the ETF, but more important is the new
@Polymarket
US presidential race market.
People are completely ignoring prediction markets in one of the tightest election years to date.
@ohaiom
"Woah sir, you're deploying a program which was deemed free speech on multiple occasions on an open blockchain on your own private computer that simply swaps bits without filing an SEC391b.1 registration?
Hands up and spread 'em. You're going to prison pal!"
@twobitidiot
It's been absolutely wild to see the establishment switch from "crypto is useless clown money" to "crypto is the bane of free society" in just 2 years.
Embarrassing levels of thought whiplash from these leaders.
@edatweets_
@AnettRolikova
@_franzihei
Here are some very clear falsifiable statements, as someone who actually went to a 4 year college in the US who did a STEM degree almost a decade ago and as someone significantly underrepresented class of people in tech, who actually still works with students in high school: