If people haven’t figured it out by now, let me help you: the speech was a pure money grab - nothing more, nothing less.
Whether you believe in #ETH or whether Ethereum is a great technology or ecosystem, is not the point. As I’ve said before, had the @SECGov sued @ethereum@Consensys@ethereumJoseph & @VitalikButerin, alleging #ETH was a security, instead of @Ripple@bgarlinghouse & @chrislarsensf, I would’ve sued the SEC just like I did over #XRP.
Prior to the speech being given, the SEC 💯 refused to discuss any particular crypto token. Since the speech, the SEC has 💯 refused to discuss any particular crypto token, including #ETH. Why hasn’t there been an investigation? Here’s an explanation:
History books will discuss this era as the Corruption Era. An era when Congress exempts itself from insider trading laws so that members of Congress, recently briefed about a pandemic and a government shutdown, can use that non-public information and cash out of the stock market before it crashes, making hundreds of thousands of dollars.
An era when the Speaker of the House presents a Bill on the House floor favoring credit cards companies, like Visa, and then shortly thereafter, the Speaker and her husband are offered millions in Pre-IPO shares of Visa, not offered to the public, making millions of dollars.
An era when the Vice President of the United States uses his office and position to secure millions of dollars for his son and his family, but deny it to the American people when running for President.
An era when the President of the United States has foreign governments and foreign nationals intentionally staying at his resorts and hotels, making sure he knows it, in the hopes of securing favors in the future.
An era when the Secretary of State has a foundation that accepts donations and money from foreign countries and foreign nationals while she is Secretary of State, and meeting those donors in her official capacity for the United States.
An era when the Chairman of the FDA literally leaves his government post and shortly thereafter is named on Board of Pfizer.
The same era that the son-in-law of the President gets a loan for hundreds of millions of dollars from Apollo Group and shortly thereafter, the SEC Chair drops an investigation into Apollo Group, and then afterwords, that same SEC Chairman resigns from the SEC, but is immediately appointed as an advisor or board member to Apollo Group.
An era so ripe with corruption, the CEO of an offshore exchange, and the son of Democratic operatives, donates tens of millions of dollars to the incumbent administration for the purposes of access to regulators, and after those donations, he gets private meetings with the Chairman of the SEC, the Chairman of the CFTC, and members of Congress.
Because this era is marked with such a blatant disregard for conflicts of interests or appearances of improprieties, a Director of Corporation Finance wouldn’t hesitate to give a speech providing a massive regulatory advantage for the same people literally paying him. He wouldn’t hesitate to allow those same people to help write the speech. Nor would he hesitate to go work for those same folks after giving the speech.
And because this speech occurred during the Corruption Era, MSM and others, don’t bat an eye.
Why would they? It’s the Corruption Era. It’s expected. It’s the era of “Get yours, while you can.”
My NEW HERO! @WarrenDavidson ! from the great state of OHIO! OH-I-O! OH-I-O! #FireGaryGensler#FireGensler "That’s why I’m introducing legislation to fix the ongoing abuse of power and ensure protection that is in the best interest of the market for years to come,"