[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 362 KB, 831x693, 1665382039788.jpg [View same] [iqdb] [saucenao] [google]
53669381 No.53669381 [Reply] [Original]

>It's very important that we protect retail investors, by removing them access to yield-earning opportunities, so that only fat cats institutional investors should have the privilege to access these. We do this for you, the little guys.

It's comical just how blatantly corrupt and rigged this entire system is, isn't it? And no one bats an eye.
They let FTX get away with major crimes, while going hard after Kraken for minor shit.

>> No.53669392

>>53669381
>nooo ponzis getting regulated is bad!!!

>> No.53669400

>>53669381
Printing asset to pay out yield is not generating wealth. You failed economy 101 and clearly need to be protected from your own stupidity

>> No.53669410

>>53669392
>>53669400
Dumb fucking niggers

>> No.53669411

>>53669392
I hope you suffer a lot

>> No.53669415

>>53669411
gensler is right
exchanges take your tokens and then use them do dump on you while entering high leverage shorts

>> No.53669423

>>53669411
when the inflation begins to move prices meaningfully, crypto will fail to live up to the expectations of many that see it as a store of value. You shouldn't wish suffering on somebody if you yourself believe in a store of value concept that will not stand the test coming imminently.

good luck

>> No.53669433

>>53669381
This is unironically a good thing. If you want high yields, you can use DeFI. If you're too retarded to use DeFI, maybe daddy Gary needs to protect you from yourself because you're the kind of person who takes loan to dump money on Celsius/FTX and are doomed to become a liability for society.

>> No.53669438
File: 974 KB, 1000x2286, 1659162342853.jpg [View same] [iqdb] [saucenao] [google]
53669438

>>53669392
>>53669400
https://www.sec.gov/news/statement/peirce-statement-kraken-020923

https://en.wikipedia.org/wiki/Hester_Peirce

One of the SEC commissioner published a statement against this ruling, on the fucking SEC website itself.
In case it's not clear: Gensler was clearly ordered by his dems overlords to take some bullshit measure against a cex, because of the FTX fallout and the heat it put on dems, and it's entirely political.

FTX was always seen as the dems-affiliated cex, while coinbase and kraken CEOs are more of the rep side; all you need to see is how the new york times treat all these cexes (fluff pieces for FTX, hit pieces for CB and Kr).

>> No.53669449

>>53669381
i bet its hard for you. i could never live in developing country like usa.

>> No.53669456

>>53669411
It's funny to me that crypto is just stocks but poorfags can turn 1000 bucks into a million in a few years with some time and luck and there's a sect of literal bucket crabs who hate it because ??? everyone else should be poor ??? only bankers should have money ???

It's weird that they can make money but choose not to and choose to stay away. Good thing they don't know about options and ETFs yet kek.

>> No.53669467
File: 387 KB, 500x649, 1649335044609.png [View same] [iqdb] [saucenao] [google]
53669467

>> No.53669499

>>53669415
>>53669433
I also agree with Gensler. I hope he keeps fucking centralized exchanges and companies right in the ass over and over and over again. Centralized companies are worse for crypto than regulations are (because regulations can't touch actually decentralized projects).

>> No.53669503

>>53669467
Who gives a shit about centralized exchanges. Fuck them. Move everyone to DEFI. Manage your own funds.

>> No.53669517

>>53669499
fool. this is deeper than staking. they are going after stable coins. they are going after USDC and USDP aka feds will freeze.

>> No.53669523
File: 15 KB, 621x261, awwda.png [View same] [iqdb] [saucenao] [google]
53669523

>>53669517
pic related

>> No.53669539

So staking and future innovation will be exclusive to DeFi? What's the problem exactly?

>> No.53669607

>>53669517
>>53669523
Don't give a shit. Those stablecoins are centralized scams. Let's see them regulate DAI or USK.

>> No.53669673
File: 2.68 MB, 1094x1400, tghtfyrjyujhyt.png [View same] [iqdb] [saucenao] [google]
53669673

>>53669392
Name one regulation that doesn't benefit "insiders" aka "elites" and fuck retail? The government doesn't give a fuck about you. They only care about 2 things: control and lining their pockets. Coincidently, one leads to the other.

>> No.53669822

>>53669539
Problem is this isnt regulating but imposing. Many ways to make customer to out their stake but noooo the jews want it to SHUT IT Down asap so us goyim never store money in other place except their banks

>> No.53669831
File: 176 KB, 600x841, 947A117C-BAE5-4714-B9A0-A4E8A19D7109.png [View same] [iqdb] [saucenao] [google]
53669831

B-b-but my HECKIN and EBIN crypto is le future. Dum dum gubbermint stopping all my heckin innovations in yields

>> No.53669857

>>53669607
What do you think makes of the collateral for DAI

>> No.53669863

>>53669607
>Let's see them regulate DAI
Isn't DAI collateralized in mainly USDC and Pax though? Doesn't seem too hard for them to do some "regulation"

>> No.53669951

>>53669381
If Jesse Powell disagrees with Gensler's logic, then why the fuck did he agree to settle?
Take it to fucking court, you coward.

>> No.53669993

fucking based I hope based Gary burns this hole village to the ground so I can piss on the ashes

>> No.53670027

It's good that he is shutting down CEX's
It's bad that he only did it after FTX
There was also better ways to achieve it if the goal was to protect retail as others have pointed out.
He literally has the entire toolkit of the U.S legal system to play with and he resorted to the chainsaw.

>> No.53670586

>>53669539
Defi algos are less competent

>> No.53670601

>>53669863
get someone to mint video game DRM at a fixed price and build a stablecoin on those sorts of commodities

>> No.53670603

>>53669951
>Take it to fucking court, you coward.
it's too bad microsoft backed out of their "the SEC is actually unconstitutional" argument

>> No.53670635

>>53669415
>>53669499
these

>> No.53670662

>>53669400
Oh man you're gonna freak out when you find out where stock bonuses come from

>> No.53670668
File: 227 KB, 416x466, 1672195003280454.png [View same] [iqdb] [saucenao] [google]
53670668

>>53669539
You shouldn't be forced by jews to self custody. That's the point of decentralized finance you can do whatever the fuck you want with it.

>> No.53670743

>>53669523
>Circle and Paxos
it's over for LINK lmao, Paxos is like the only stable they're cooperating with

>> No.53670754

>>53669381
>play the lottery as much as you want though, go all in with your life savings, thats completely fine
brain drain is always the result when governments get too authoritarian communist

>> No.53670770

>>53670743
Maker just integrated Chainlink automation like a day or two ago....

>> No.53670773

>>53669607
dai is fucked lmao. easier to kill than usdc because you only need to freeze a couple big addresses where the collateral is and its instantly fucked

LUSD is the only good decentralized stable