That's the largest crypto firm--far larger than the three firms that have folded already this year. Crypto is stupid and a scam. That it seemingly can't be traded without being part of a Ponzi scheme is pretty damning. Kevin Drum is a guy who has been tracking it for a bit and he notes: "The problem, I assume, is that an honest crypto platform isn't very profitable. You can make some money, but worthless products just don't generate large fees or commissions. To make serious money, you need to convince people that crypto isn't just real, but an unstoppable juggernaut that only the select few truly understand. And the only way to do that is by running a corrupt platform that's designed to look much bigger and richer than it really is. Reality on its own is just too drab to keep the marks on the hook." Indeed. I'd rather invest in tulips.
What's funny is that these exchanges have been begging the SEC for years for some clarity and regulations. This is really bad for **** coins. Bitcoin is unaffected.
Sure, and SBF lead that particular charge. It was basically disingenuous bullshit - we're going to sell unregistered securities but please please regulate us, we're good guys! so we can cash out/keep it going is a classic web 2.0 tactic.
Binance is a legit operation, regardless of ones opinions on the products they offer. FTX, Voyager, ect ... were yield chasing ponzi's. That said, Binance could be exposed to running illegal operations, but its not a ponzi exchange. They simply host the ponzi coins. Bitcoin only exchanges are not very profitable. Eventually Bitcoin trading will be offered as a service, not a business model.
stay humble and stack sats, or you will get rekt like Taleb true bitcoiners keep their head down and their minds open this is an emergent phenomenon, too soon to know where it will go
“At least with the Federal Reserve you have transparency, we know what’s going on, we can influence it.” Lmfao. Not only does Taleb not understand Bitcoin, he also apparently doesn't understand the dollar either.
KPMG: Bitcoin’s role in the ESG imperative Discover the ESG impact of bitcoin and the misconceptions it may pose in the market https://advisory.kpmg.us/content/dam/advisory/en/pdfs/2023/bitcoins-role-esg-imperative.pdf _______ The major players are starting to figure it out. Bitcoin is good for the environment (enabling renewables, reducing negative outputs) and social advancement (financial inclusion, risk reduction, energy framework expansion).
What's with these CRYPTO murders? Crypto bois getting DICED up left and right? The headlines read like QANON conspiracy ****.
Bitcoin plunged Thursday night on news that Elon Musk's SpaceX has sold all its holdings of the cryptocurrency. https://www.investors.com/news/elon-musks-spacex-news-sends-bitcoin-tumbling/
Talking about these: https://people.com/crypto-millionaire-found-dead-dismembered-in-suitcase-argentina-7566887 - new one every week.
It wasn't SpaceX. https://www.coindesk.com/markets/20...-this-multi-billion-dollar-bitcoin-bloodbath/ In the meantime, buy the dip.
most people think the reason for this is: Binance has taken out large loans using their internal BNB token as collateral If that token price drops below a certain dollar price, Binance will get margin called Therefore, Binance must sell their own (and possibly their customers') bitcoin reserves to purchase their own BNB token to prop up the price above the margin call level Thus, the price drop in bitcoin.
