Another one bites the dust.
Whatโs interesting about First Republic is it was given time and access to all the emergency lending facilities. It borrowed:
- $63.5B through the Fedโs discount window
- $13.8B via BTFP
- $28B from the Federal Home Loan Bank
And it still died.
It was an honor to meet with Senator @PerezAstorgaE, Chairman of the Treasury Committee. We had an excellent discussion about strategies for #Bitcoin adoption in Mexico and planning the next steps. He also gifted us some coffee from his farm, Finca Fatima, in Veracruz. โ๏ธ๐ฒ๐ฝ
This is a great find- the SEC response to Coinbaseโs S-1 calls out risks that tokens may be determined to be securitiesโฆ and that the SEC may disagree with Coinbaseโs assessment of what is and is not a security.
Not taking sides for the SEC here, but nothing in Brian's founding story of Coinbase requires an altcoin business: "difficulty sending payments globally" ... "losing trust in currency" ... "lack of loans". The bitcoin stack can handle all of this.
ERCOT responded to @SenWarren's letter last year, here are some gems ๐๐งต
"[#Bitcoin] miners do not receive subsidies or any other special treatment from ERCOT. To the extent recent media reports have suggested otherwise, those reports are not correct."
Brian Armstrong misrepresents the facts, yet again.
$COIN S1 states:
โWe also offer various staking, rewards, and lending products, all of which are subject to significant regulatory uncertainty, and could implicate a variety of laws and regulations worldwideโฆ.โ (1/n)
The Fed just added another $100 billion to their balance sheet this past week. $400 billion since the start of the banking crisis. At this pace we will be back to pre-rate increase levels in a matter of weeks.
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