ACE’S TAKE:
Gary Gensler is unhinged. He is showing his true colors out in the open, unabashedly. Watch this CNBC interview
Despicable amount of corruption between politicians and SEC. Read this thread about Prometheum, watch the video, and learn about the sleazy attorneys getting special privilege to try and cement precedent for digital assets. It’s a complete sham.
The SEC has lost a lot of credibility with anyone paying attention. It seems like a very insider game being played between some key, high ranking politicians and Gary Gensler to push crypto out of the US. Thankfully, we have a court system that will help expose the truth and allow sensible regulations to be developed by Congress.
MARKET:
The Federal Reserve has paused rates for the first time in months. They claimed there will likely be 2 more hikes in 2023, so this was deemed a ‘hawkish pause.’ JPow continues to do his best to Volcker the economy into lower inflation, but other key metrics still show healthy economic growth.
Crypto took a beating after the SEC charges came out against Binance and Coinbase, and $BTC sits around $25,000 after losing the weekly 200MA. Major support exists between $19k-$24k, and many investors remain sidelined with looming sell events from the government and Mt. Gox holders.
NEWS:
So let me get this straight, Gensler wanted to advise Binance, got rejected, became SEC chair, and now has Binance in his crosshairs…seems like a major conflict of interest:
Ethereum blockchain used for institutional banking in Hong Kong:
Massive hire by Circle:
Curve founder being sued by crypto funds:
Frivolous lawsuit dismissed against No-loss lottery, Pool Together
Details surrounding the Mt Gox hack revealed by the DOJ
a16z sending a message to US by opening international crypto office in the UK:
Multiple FUDs going on leads to USDT depeg:
Blackrock could probably pull this off:
crypto.com suspends institutional trading for US clients:
Not good journalism:
REGULATORY:
Congressman calling for Gary Gensler’s head:
A win for the regulators:
RUGS:
More problems from centralized custodians, Haru in trouble:
Not sturdy:
POD O’ THE WEEK:
Worth listening to the Best Friends debate the SEC and US crypto policy:
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The Gensler / Binance advisor story is fake news 😜