Emergency Press Conference: Ripple is undermining American prosperity, freedom, and Bitcoin.
Ripple is actively lobbying to stop a Bitcoin Strategic Reserve in the U.S. while pushing their centralized, corporate-controlled token.
We will not stand for it.
4 Companies Demonstrating What Responsible Bitcoin Borrowing and Lending Look Like:
Debifi, Unchained Capital, Hodl Hodl, & Blockstream
@unchainedcom , @debificom , @hodlhodl , @Blockstream
Yesterday, I published a long-form article calling for Bitcoin rehypothecation to be made illegal (can be found in the retweet below). With the SEC’s rescission of SAB 121, traditional Too Big Too Fail banks (TBTF) now have the legal permission to custody Bitcoin and start making loans against it. This is exciting and scary at the same time. It's scary because these banks are masters of lending out more fiat than they have on deposit. In a world where fiat can just be printed and they have a front row seat to the money printer, they can get themselves in trouble and yet always get bailed out. Just look at Silicon Valley Bank and the backstop facility that was immediately stood-up.
Well, Bitcoin works very differently. You can't print more Bitcoin if you're irresponsible with collateral deposits. And these four companies are the "adults" in the space that have demonstrated what right looks like. Period. They should be studied and involved in the regulator process for WHY and HOW their best practices have worked for multiple cycles (80% swings) and haven't had issues with bitcoin collateral being misplaced or under-collateralized.
Interestingly (ironically) there was a Forbes article published yesterday morning talking about these four companies working on a collaborative set of overcollateralized borrowing and lending products. Together, they have leveraged multi-signature contracts, robust loan-to-value (LTV) thresholds, real-time spot collateral monitoring and execution management, and transparent custodial partnerships to eliminate the risks of rehypothecation while providing secure, scalable options for institutional investors. This is the example folks! Good luck trying to read anything behind Forbes firewall but I'm providing the link to the article here.
Fractional reserve practices, rehypothecation, and opaque risk structures have plagued traditional finance for decades. WE NEED THIS TO STOP. These four companies are the example of what right looks like.
https://t.co/9ATqRtaQzH
XRP asked for a war and they’re going to get one. Here is a small list of why you should steer clear of XRP:
- Pre-Mined
-Central governance w/ CEO
-Ripple owns half the supply
-Cheap marketing tricks
-Pump & Dump Scheme
-Ripple loves Kamala
- Extension of Fiat
-They want a CBDC
What am I missing ? 👇
Make the rehypothecation of Bitcoin custody illegal.🚨
This is a VERY important consideration now that SAB121 has been rescinded.
Here's an article I wrote that goes into detail why.
https://t.co/LmC6C9Hf6K
I want this shared as aggressively as possible with US members of congress. Painful lessons of our past shall inform our prosperity of the future.
@HesterPeirce@SenLummis@DavidSacks@DavidFBailey@CaitlinLong_
We just provided some information for a nation state asking about Bitcoin ETFs.
Considering moving some exposure from foreign currency govt bonds into BTC.
Bitcoin is entering a new chapter —
@altruafinancial@gerryleigh12 If it is your primary residence and you are married, there are no capital gains on the first $500,000 in profit (first $250,000 if you are single).
@iwearabighat @intelFromBrian Not to mention, I know the video is grainy. But I could very clearly see it was a drone with the naked eye from the window.
@iwearabighat @intelFromBrian Definitely not an airplane. Was right off of our wing hovering in a completely still position. All of the movement in the video is us flying by it.
@willzolpe What if your problem is knee pain from past surgeries, not foot pain? They seem to help alleviate my knee pain where other shoes have failed.