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This week, the US Securities and Exchange Commission (SEC), filed lawsuits against Binance and Coinbase, two of the world’s biggest crypto exchanges, on which investors buy and trade a large offering of cryptocurrencies. The SEC’s main allegation against Coinbase is that it’s running an unregistered securities exchange — like if the Nasdaq independently operated without any regulatory oversight. Binance faces the same charge, as well as additional accusations that it appropriated billions of dollars in customers’ funds for its CEO’s trading firm, misled its customers, lied to regulators, and more. Binance is accused of moving money from the US business to pay for a Yacht for the exchange founder Changpeng Zhao.
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Proof that the SEC is not impotent.
Proof that the SEC is not impotent.
Wait crypto has no use case? what about it being a global currency?
Great piece! What about STO?
SEC: We’re taking you down for not registering your crypto exchanges as securities.
SEC also: We’re not allowing you to register your crypto exchanges as securities because they don’t respect the minimum parameters.
Even Pablo Escobar was more reasonable than the SEC, at least he let you chose between a bribe and a bullet.
Crypto is, has been, and will always be little more than a scam.
Просто базированные знаний. То, что она говорит должен знать каждый, кто работает в крипте
Ти дуже допомагаєш нам своїми оглядами! Спасибі тобі більше від усіх любителів крипти
Patrick, who in their right mind would think the four crypto meatheads with extensive tattoos on their carefully exhibited, pumped up biceps would be trustworthy custodians for investor’s money? I would not be in the same room with these people, much less, entrust my money with them in some sketchy, encrypted, off-shore financial deal operating on the Dark Web. The people who sent their money to these people in expectation of wealth beyond reason, deserve their fate. I have no pity. It take a sucker for a conman to operate. You cannot legislate greed and stupidity away. The government agencies can only go in after the crash and clean up the debris, which is what they are doing now.
Best dressed man on the internet.
truthfully, coinbase, will probably go through a long process; maybe 4 or 5 years depending on the scope of the company and how well their bookkeeping is (which is not good by the look of things). coinbase doesn't have an sec problem, they have a compliance problem. they'll need to categorize every account. the only thing now is whether they'll keep bleeding billions of dollars or someone will fund them…
Coinbase is on a downward slide, to be honest. What's next, shutting down withdrawals? They might as well close the whole exchange, haha.
Coinbase is playing the victim card again, but they're the ones who didn't follow regulations. They should be shut down. 😆😆
The next news might be Coinbase closing down, and we can't access our funds, just like FTX lollll.
The problem that Gensler has got is with the courts in America because they appear to be all for the free movement and trading of crypto and exchanges that set up in Bedrooms trading billions of $ without any scrutiny with the American general public who 90% are vulnerable because they do not understand how crypto investment, and trading operates, to the extent, I'm not sure if they know what they are getting involved in, from first hand experience crypto trading is very complicated. E.g. the terminology, all the crypto currencies available, understanding Bitcoin because that coin leads ,Blockchain technology, hash functions, public keys, private keys and on it goes.
You should delete this video😂
Cryptocurrency is a SCAM!
10:35 – bro is simply short for "broker" it's how ppl in the city talk…
I'm excited to tell you all about my new crypto coin…Isnop. Its available on the Macs block chain.😂😂😂😂😂
Binance’s net worth is about $4.2 billion, so being forced to pay the United States over $4 billion sounds very dangerous and painful. Also criminal charges would be brought against CZ and a monitoring surveillance system would be set up to oversee Binance which fundamentally is a death-blow to the idea of decentralized currency, thus all of these actions would most definitely severely crash the entire bitcoin and alt cryptocurrency market. 😮😮
And yet bitcoin is up 120% YTD
maybe one day the penny will drop with your analysis.
Small time scammer go to jail big time scammer pay the gov a billion and get a get out of jail free ticket
The old criminal just wants his cut of the action from the young criminal
I have always wondered about the mental capacity of people who fell for cryptocurrency. It was never a good idea, only a peculiar one
This is hysterical, Binance were heavily involved in videos against SBF when his fraud was uncovered.
On chain analysis would indicate wrong assumptions in your Bitcoin analysis, but time will tell. Always appreciate your take.
Bitcoin is not crypto. Also I recommend you read Broken Money by Lyn Alden.
Bitcoin needs to be differentiated from 'crypto'.
Buying Crypto is like buuying pink sheets of failed closed down companies….its like Buying an air a name nothing more
Crypto should be regulated as a gambling product.
Its interesting that CZ had the hubris to play a major part in taking down FTX, while doing the same thing, and believing he wouldn’t be caught. Had he had the sense to work with SBF and keep the company solvent they both would probably be still in charge of their companies and their lives.
Tether and how much corporate paper does it own in Evergrand and Country Garden?
$4.3 billion is a huge fine …. why is there no jail time?
19:59 😂😂😂
Crypto solves having to use rip-off cross border transfers companies like Western Union that over charge on remittances.
I still don't get the point. Bitcoin was an experiment in an alternate currency. It failed miserably, through ridiculous fluctuations. It's also not anonymous as proven. It's purpose is non existent and is nothing but a scam.
So why is not Bitcoin stumbling?
Btc doesnt care
Yes I think you need a separate license 😂😂😂😂
the comment that crypto hasn't solved any real world problems other than gambling on useless tokens and bad artwork was deeply unfair! Its been of incalculable value to international organized crime scammers hackers and rouge states!
what a great video!
Bro