The charming Gunslinger also includes a 2-minute propaganda piece for those with a marginal propensity to read.
Some great and cogent responses.
What should be manifestly clear to anybody with eyes to see and a brain to understand is that "retail investors" will be royally screwed. They have always been screwed, but within crypto we are seeing precisely how this is being done.
Thing is, being an "accredited investor" gives no assurances either that any investment won't collapse. The fallacy is that the retail pleb can't afford the failures! The way the SEC protects consumers from failures is to create the failures, then shrug, and then create more protections.
Also, note, that the entanglement with the FTX debacle could lead to a prolonged epic saga - with laws then enacted without any such charges being resolved. Could this also freeze the Bitcoin assets languishing within Grayscale's GBTC fund?
For Gensler, you are the goose! All of you!
SEC Lawsuit Against Gemini Is Political, Says Tyler Winklevoss
https://bitcoinist.com/the-sec-v-gemini-is-political-says-tyler-winklevoss/
yep. Need more slimy friends.
Crypto lending is total garbage. You put up collateral and borrow some other coin. The value of your collateral suddenly drops - and you are required to top it up. You don't. You lose your collateral. But so what? Your loan might be worth more - it's the lender who's losing. As always, easier to do with big loans. And thus the dominoes fall.
This has nothing to do with DCG and Grayscale annoying Gary Geesehandler.
but notice who is raking in $210m pa doing nothing - and it isn't the investors - who are not even lowly "retail". lol