@SpeakerJohnson It's crazy how every Republican House speaker is more disgusting and vile than the last. Just when you think it couldn't possibly get worse. Enjoy your pathetic legacy of shame.
@SWowzerz@TheCryptoPerps@Ledger@thisisarculus@Tangem@Trezor It only counts as "liquidity on an exchange" if the funds are in an open order on the books. If the funds are just sitting in a users account, that does not count. Those funds cannot be traded against.
@SWowzerz Noting wrong with self custody, but this is not at all how exchanges work. They do not use other users funds for perp collateral. The trader themselves put up the collateral with the funds from their own account. Thats why the exchange takes their funds when they get liquidated.
🚨NEW: Many of the House members who voted no today had concerns with the GENIUS Act possibly enabling a CBDC. However, there is language in GENIUS that would explicitly prohibit the Fed from creating a retail CBDC.
The section below says the bill shall not be construed as expanding the Fed’s authority to offer services directly to the public — meaning it cannot authorize things like digital wallets, personal accounts, or anything that veers into CBDC territory.