Today marks 10 years since @tyler and I filed for the first spot Bitcoin ETF. The @SECGov's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why:
-"protected" investors from the best performing asset of the last decade
-pushed investors into toxic products like the Grayscale Bitcoin Trust (GBTC) which trades at a massive discount to NAV and charges astronomical fees
-pushed spot bitcoin activity offshore to unlicensed and unregulated venues
-pushed investors into the arms of FTX, subjecting them to one of the largest financial frauds in modern history
Maybe the SEC will reflect on its dismal record and instead of overstepping its statutory power and trying to act like the gatekeeper of economic life, it will focus on fulfilling its mandate of investor protection, fostering fair and orderly markets, and facilitating capital formation. This would have led to much better outcomes for US investors.
In the meantime, best of luck to all those fighting the good fight to bring US spot Bitcoin ETFs to life. Onward!
Hinman's motive behind providing Ether clarity was to benefit his law firm, which was still paying him, and facilitate Chinese mining IPOs. The Ether clarity would generate significant fees for his firm and associates on Wall Street. Remember the Chris Lin (Simpson Thacher) meeting, which broke the law. @s_alderoty@bgarlinghouse@CGasparino@JohnEDeaton1@digitalassetbuy
https://t.co/ap2msVYEXV
TODAY IS GONNA BE A BIG DAY
1) CPI DATA RELEASE
2) RELEASE OF HINMAN DOCS $XRP
3) HEARING ON MOTION TO SEIZE
BINANCE ASSETS IN US
4) SEC RESPONSE TO COINBASE
Let’s stand together and support all
the companies fighting for Crypto.
@yoshitaka_kitao Was The Only Person From Financial Institution Who Supported #XRP & #XRPCommunity Since Day 1 Of The Lawsuit & He Is Still Supporting #XRP & #XRPCommunity Thankyou Sir #Japan Pro Crypto Country 🇯🇵
US Congressman files legislation to FIRE the Chairman of the SEC, saying "U.S. capital markets must be protected from a tyrannical Chairman"
Retweet if you agree
#Cardano Community
#Crypto Community
🚨 NEWS - Today I filed the SEC Stabilization Act to restructure the @SECGov and #FireGaryGensler.
U.S. capital markets must be protected from a tyrannical Chairman, including the current one. It’s time for real reform and to fire @GaryGensler as Chair of the SEC. Statement ⬇️
#XRP#XRPCommunity
Give @EleanorTerrett her own show or segment. She is covering the most important industry as well as the most important legal cases in that industry. We need her.
I don't watch any news channels, but I would if I got to hear her cover crypto news on a daily basis.
@FoxNews@Suzannescott
THERE IS NO REASON FOR XRP TO STILL BE DELISTED FROM COINBASE AFTER WHAT THE SEC DID
THEY HAVE NOT DELISTED ALL THE OTHER CRYPTOS
THE ULTIMATE SHOW OF CRYPTO HARMONY IS TO RELIST XRP
RETWEET 👇 AS WE NEED TO GET THEIR ATTENTION FOR A CALL TO ACTION
@coinbase@iampaulgrewal@bgarlinghouse
Gary, the SEC approved Coinbase’s IPO, with full knowledge of Coinbase’s business model and after seeking clarification on CB’s operations on multiple occasions. If CB was not compliant with the law, the SEC should not have approved it to become a publicly traded company in the first place.
While you allege that the “rules are clear”, you are lying and you know full well that they are not. In fact, years ago, before you were Chairman of the SEC and in Elizabeth Warren’s pocket in a position that would allow you to manipulate the SEC to protect your incumbent banking friends who made you rich - to the tune of $100 million net worth - you promoted ALGO and said that most tokens were not securities. You were either lying then, or you are lying today.
As chair of the SEC, your mission is simple: 1: to protect investors, 2. to maintain fair, orderly, and efficient markets, and 3. to facilitate capital formation. You are not only failing at all 3 goals, you are actively sabotaging investors, intentionally creating an unfair regulatory environment, and driving capital formation offshore.
Your actions as chair have hurt investors in all crypto tokens, including those not sold as securities (I will concede SOME tokens were once sold as securities - but your statements and actions are so broad that they negatively affect all crypto), and investors in CB which your agency approved to be publicly traded.
Your refusal to issue clear and reasonable rules for crypto creates an unfair environment that maintains the power and profitability of legacy financial institutions at the expense of entrepreneurs and a fledgling agency.
The hostile regulatory environment you have created is actively driving capital formation and investment in the crypto industry offshore and will set the US back in the technology race for decades to come.
You are a disgrace who has not only failed in your job; you have thumbed your nose at Congress, the business community, and American investors.
@GaryGensler What an absolute joke! You are not bringing clarity nor oversight! You are failing to do your job and protect consumers by doing the exact opposite. Mr. Gensler, with all do respect, you should resign immediately!
Be prepared when the XRP settlement/judgement happens. I expect Gary to call it a victory and his media allies to call it an SEC victory. I believe those of us that know all the ins and outs will see a victory that isn't seen by the general public at first. It will be spun as a loss IMO. Let's say the judge says certain sales from 2013 were securities transactions but rules that XRP itself and in the secondary market are not securities. The @CNBC headline when they have Gary on will be "XRP Declared A Security In Court". Be ready for this. These people are corrupt and proven liars.
#Vechain is on fire! 🔥
In just a few days:
- Boston Consulting Group partnership
- HIVE summit
- @vechainofficial-sponsored UFC 285
- New website
To celebrate we've listed the #BSC version of $VET! 👏
Swap BEP20 and mainnet #VET at the best rates 👇
https://t.co/gGZDx9F12j
SEC-Registered Firm Lists XRP as Non-security in Code of Ethics.
Bailard Inc., a United States Securities and Exchange Commission-registered investment adviser and broker, allows investments in XRP which it says is “generally” viewed as a currency. https://t.co/w0rYIctYnE