@Dynamo_Patrick why isn't SBF being labeled an international fugitive as well? why is he not being called a criminal like all these other madoff clowns?
@marczeller So isn't anything that requires a centralized entity to give you credibility at direct odds with creating something that isn't at the behest of certain institutional investors or entities?
@marczeller Circle ultimately needs to play by web2 / central banking rules from time to time because they depend on those very relationships to continue to sustain this level of collateralization / consumer confidence.
@semenov_roman_ We shouldn't be so shocked that Circle just freezes USDC when they want because they ultimately have to take into account what the banks and centralized authorities want / mandate to a certain extent / in certain cases like Twister Cash.
@semenov_roman_ It means that fiat-backed stablecoins will ALWAYS be subject to fiat rules. If centralized banking systems are collateralizing all of the USDC in circulation, Circle has to follow their rules to continue to bank on complete fiat-backing to ensure consumer confidence.
There was an entire generation of Napster artists.
Then there were MySpace artists.
Next were SoundCloud artists.
And then Spotify artists.
Next is web3 artists.
1/ Butterfly Spreads 🦋
In the natural world, a butterfly is a spineless four-winged insect with a strong thorax.
A butterfly spread, however, is a risk-reward defined directionally neutral options strategy.
🧵⤵️