Decentralized prediction markets are a significant innovation with real public utility. They provide valuable information on future events that is rooted in financial accountability. Unlike polls, pundits, or expert opinions, they require participants to put their money where their mouth is — to have skin in the game. This proof of stake requirement gives them an integrity that other information sources cannot claim.
This is why @Gemini submitted a letter to the @CFTC asking them to withdraw their Proposed Rule on event contracts, which would categorically ban all event contracts in the U.S., such as those traded on @Polymarket, the world’s largest prediction market.
Thoughtful regulation means just that. Being thoughtful about how to balance innovation with consumer protection and how to usher in the future with guardrails and not gates. There is nothing thoughtful about a blanket ban on markets that have been employed for decades in one form or another and have proven extremely reliable tools for forecasting future events. More recently, the growth of these markets built on top of crypto protocols promises greater access, liquidity, and aggregation of the wisdom of the crowd for all.
The decision regarding this Proposed Rule is significant and comes with major economic consequences. It is crucial that the CFTC gets this right. To do so, the Commission should not bow to the public pressure that @SenWarren has exerted on it to adopt this Proposed Rule. It should completely disregard her arguments as they are unintelligible, politically motivated, and do not serve the best interest of the American people.
Over the last 4 years, the world has seen how corrosive an influence a politician like Senator Warren can be on an agency. She and @GaryGensler have corrupted the integrity of the @SECGov and tarnished its reputation in a harmful and irreparable way. We urge Chairman @CFTCbehnam and the CFTC Commission to distance themselves from these toxic, odious characters and act independently to do what’s right for America and the American people.
Lastly, this Proposed Rule, if adopted, will be struck down by the courts. The recent Supreme Court ruling in Loper Bright Enterprises v. Raimondo makes it clear that regulatory agencies cannot expand their power through rulemaking, which is exactly what this Proposed Rule would be doing. As Commissioner @cftcmersinger correctly pointed out in her dissent, the Proposed Rule “exceeds the legal authority that Congress granted the Commission.”
Rather than forging ahead and denying Americans access to these powerful markets, the CFTC should withdraw this Proposed Rule and go back to the drawing board with industry stakeholders. This would be the trust-building move. Onward!
You can read our full letter here:
https://t.co/pRnTOA0yEN
Johnny Ng, a Hong Kong lawmaker, has pledged to start conversations in Hong Kong surrounding the possibility of “including bitcoin in financial reserves” following former U.S. President Donald Trump’s speech over the weekend.
The flag of ETH is raised over Wall Street.
And the SEC surrenders to a more powerful regulator.
Because it is Ethereum that now provides standardized market access to all Internet participants.
The network defeats the state.
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Hello @CMOMaharashtra@mybmc one employee of the Builder Omkar named Shaikh has put in an illegal structure inside the apartment complex that is a safety hazard for the movement of vehicles and the threat to life of kids and early people. Request to get it removed 1/2
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First time in 7,5 years in crypto that i went to a crypto conference (long tweet).
Contrary to what you see on your twitter stream by your favorite crypto influencer on dubai, here a serious look behind the surface of token 2049 & dubai: the positive & the negative.
I thought, ´well, war is close, so why not get as close as possible and leave the safe mountain´.
´You came down the mountain and went to Dubai?´
Yes.
Last time i left the mountain for a longer time ftx collapsed, lol, this time dubai was under water, and the turbulence in the plane so bad on arrival i vomited all over, but i still laughed my ass off, so funny when the body goes all haywire.
I live in nature, so i sometimes visit cities when i go for trips, mainly to observe how humanity is doing and stay up to date a bit on technological progress etc.
So lets look at the negative & the positive of dubai & token 2049
Observations:
The negative of Dubai:
- Absolute soul crushing place. Superficiality & decadence and outward pretending been taken to the next level there.
- Even worse soul crushing slavery for the 89% of imported workers that maintain the rich, disgusting really. And yes, i know it is like that in many places in the Middle-East and the world, but here it is so ´normalized´ to have that slave labour army everywhere while the rest sips champagne. They smile to you, but behind the fake smiles is a lot of suffering. People love dubai, but they refuse to go see the super ugly side, which is workers from india, pakistan, bangladesh, that are paid 1 or 2 dollars an hour, while serving the super rich, living in horrendous conditions. Went to visit a part of Dubai where they live, not easy to get, and pfff....
- No nature, no trees, no resistance they have to disasters at all. Everything, literally everything is imported, people, food, animals, all of it. If somehow the global economy suffers, they will crash hard, but they will also bounce hard
- The negative energy this place is accumulating, with the emphasis of money & decadence and how they treat the workers will destroy this place. Morally speaking, or from a humane perspective, this cannot keep going like this and they will pay a heavy price for it one day. Although it will probably get even worse, all workers will soon be replaced by robots and send back to their slums in asia.
- all the airconditioned air is dead ´air´. It is energetically messed up because everywhere you go the air is charged by these airconditioning machines. And outside it is insanely hot. Looking forward to live mountainair again. Long term it is super unhealthy to permanently live in airconditioned air, i know most people are not sensitive enough to feel it, but it really is bad for one´s health.
The positive of Dubai
- Dubai is like the best teaching ground ever if you really observe well. So many rich people, and most still so unhappy. Money, consumption, bullshit, superficiality. And so much pain. Conclusion? Material wealth does not bring happiness, goh...what a surprise right. Good place to consume all the toys & parties & bars & distractions to then finally realise there is more in life
- Business climate is amazing. Perfect place if you want to network or really have the determination to make it financially. Like a copy of singapore. So impressive they build all these so fast, and keep making it very easy regarding crypto regulations, opening business, attracting workers etc. I wish Europe would do business so easily
- this place will become the capital of crypto if this keeps going, so many whales and og´s already live here, it is a magnet for it
- nice mix of cultures and genetics, creates physically beautiful people, like you see in so many large cities in the world, also nice to see there are still women & men here, emphasis on family, but let´s skip the anti-woke comment part, you get what i mean.
- feels like walking around in a live gta game, really, with all the supercars, models everywhere, weird characters, criminal types, and extraordinary decadence. So surreal it is unbelievable. Never laughed so much in a week.
The negative of token 2049:
- More convinced than ever that crypto will change nothing. It is the same greedfest as the previous money system and it will not improve human contentment, only inner work can do that. Already knew all that, but nice to see it directly. Human consciousness development stays far behind our technological progress. We are still the same nasty monkeys, just with bigger sticks so to speak. So much progress to make on the inner front
- Super funny to see ugly cryptotraders in the morning at breakfast with their laptops and graphs on the screen who are sitting their with escorts and surely pay for a ´girlfriend experience´.
- hilarious to see mostly young men walk around the conference like ´what i am doing here, who do i talk to, how do i connect to people, and so many have so utterly lost their social skills through only looking at the screen that they really don´t even know how to communicate´. Seeing this crowd, i should really open inner development centers.
- army of wanna be vc fund managers, who probably manage 2 dollars, who then out of boredom sit on camels or play video games or go to a crypto fight night.
- most of these idiotic famous influencers are actually idiotic in real life too, no surprise of course. most totally lost and are miserable even though rich financially ,again no surprise.
- a bit disappointed with new projects, feels this cycle way too much attention is on the degen side.
The positive of token 2049:
- A lot of original people are in crypto, that is for sure, so that is nice to see, besides a lot of wannabees and influencers etc, still met and saw a lot of very intelligent people.
- So funny that all these people came for a cryptoconference and enjoy the wealth & luxury, and got stuck on airports or flooded roads, karma (action-reactoin), a beautiful lesson learned in patience and letting go of expectation for many
- Main reason to go down there was to see who i am trading against (no wonder i made good $, large part of the people is super impatient and emotionally unbalanced), finally observe the crypto crowd in real life, and spend time in person with some people i respect enormously. I like to say thank you in person to people that have been an inspiration to me in my life, so i did.
- runes & ordinals will do exceptionally well, so many people were talking about it. knew it was a hype, but not that it was going to be that big. will be massive
- solana will keep doing well too, the developer army they have is impressive to say the least. can see solana going to at least 500, who knows maybe 1000 even this cycle, if they fix the chain and speed it up.
- excellent to be anonymous, and stay low key, as i ve done for years. Some very wealth people i talked to all said it is not worth it to be in the spotlight, and some would even prefer to return to being anonymous and not known at all, too much hassle and shit and danger when you become a target.
- of course the decadent fake superficial crypto influencers love dubai, because what you are, you attract, so if you want superficiality, you can find plenty of it there. Most serious people i met who live there want to leave and go back to be closer to nature, a positive sign
- Was fortunate enough to spend most of the time with crypto OG´s outside of the conference, and it gives a way better real perspective than the quite ´superficial´ conference. There are some great founders & OG´s in crypto that do not get the respect and attention with their long term vision they deserve. Amazingly enough most of them are super interested in inner development. They are obviously rich beyond imagination in financial wealth, bust most are still searching for real contentment, balancing their energies, and expansion of consciousness, so in a way they are still searching for real wealth (on the inside), which is a great thing, because if you start looking, you often find things. Convinced me to redouble my efforts on bringing more good info on inner development to a broader public.
Conclusion:
Was the first time, and the last time i´ll attend a crypto conference, better meet people outside of it. Also nothing to really learn of seeing so many humans on a pile again, it is the same madness that has been going on for 1000s of years, same cycle of suffering that just repeats and repeats, as all esoteric traditions ve been saying for 1000s of years. The one on one conversations is where the real value is, to be able to go in depth.
Also, once again, going against the herd in crypto will make you successfull: sell when others buy, buy when others sell, don´t look for attention, and be original and don´t do what others do.
Lovely to hear that some people i respect a lot and became even better friends with will come to visit the humble mountain soon to spend time there.
Awe that flying is possible. Most people do not realise or appreciate enough how great it is that we have this technology which nobody would be able to believe 100 years ago, we are monkeys after all that came from trees.
Walking around dubai was like walking in a amusement parc movie kind of dream of surreality. Stunning that we create so much material stuff, and are still so discontent as a species. Crypto or bitcoin will not save the world, but the world does not need saving, only humans that find out what the ´I´ is and change the world from the inside out. Enjoyed the show a lot.
Looking forward to touching some green and gardening again tomorrow
Being a human and humanity is amazing.
Gratitude for this existence
Kunji Finance is a decentralized social trading platform that gives users the ability to replicate the full portfolios of experienced traders across a wide range of assets, asset types, and liquidity sources. This enables users to capitalize on another trader's expertise in research and risk management.
We are live on Arbitrum with three active user vaults that can be explored here: https://t.co/BrVTtltojc.
We have established collaboration and partnership with GMX, MUX Protocol, Vertex Protocol, OKX Wallet, and others. As a part of the #ChainlinkBUILD program, we have recently partnered with fellow Chainlink BUILD project @substancex to provide users with a superior spot and leverage trading experience.
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Also, the chart looks pretty good for me! So decent bag here will be good hold for next few months!
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