I'm sorry, but after watching, Blackrock, Fidelity, Citadel, Schwab and now Deutsche Bank, all apply for #Bitcoin ETFs, spot exchanges, etc. only a few days after the SEC drops a TRO on Binance and sues Coinbase... how can't you think this entire past year was a giant inside job coordinated between the Wall Street parasites & government regulators so they could catch-up...
Breaking 🚨 : US 🇺🇲 is launching it's Own Crypto Exchange .
Group of America's largest investment firms—including Citadel, Charles Schwab and Fidelity Digital Assets—are launching a #bitcoin exchange this week.
It seems pretty obvious to me that Gensler is giving Blackrock the BTC ETF the nod and also got that Prometheum circus going to “prove” that he isn’t stopping crypto entirely. It’s all politics and in the end he throws a bone to Wall St so he can suggest they are “more trusted”.
BlackRock in 2017: CEO Larry Finks calls #Bitcoin "an index of money laundering."
BlackRock in 2023: The $10 trillion asset manager files for a spot Bitcoin ETF.
JUST IN: 🇭🇰 Hong Kong regulators to push banks to offer services to #Bitcoin and crypto firms as they want to become an "international crypto hub" - Bloomberg
The SEC is "killing" crypto so they can control crypto.
The playbook:
1. Cut the on/off ramps to starve the ecosystem of liquidity (limiting existing crypto businesses' earnings)
2. Create a dubious regulatory environment to deter new startups from entering the space
3. Purposefully deny regulatory licenses to crypto businesses + take legal action against them
4. Pave the way for TradFi institutions to take over the space by granting them the appropriate approval (today BlackRock filed for a $BTC ETF)
The SEC doesn't like idea of "crypto cowboys" controlling the industry.
They'd rather give licenses to companies they know they can control (or companies that "control" them 🤔)..