I don’t think Trump is bright enough to be doing this intentionally, but it’s a win-win for him, politically. If he continues to ignore the order he pays next to nothing (for him) or he attains political martyrdom in the eyes of his cult.
Honestly, nobody… defaulting is a pretty clear sign that us plebs are being squeezed and if creditors can’t collect banks start feeling the pressure too.
Lived in NYC and every time rent rose to where I couldn’t afford it, I would have to blow my savings relocating. A few years ago I instead used the money to gtfo of the state entirely. Love that city but god damn if it isn’t a huge trap.
LOL, new financial exchanges popped up without following AML or KYC rules, trying to skip by all the checks and balances put in place for every other financial institution, and they thought they’d just…get away with it?
Contracts that clearly have no intrinsic value and are tradeable between individuals and corporations - those are derivatives by definition - and all of these companies and “coin” issuers thought that the SEC and CBOE wouldn’t come kick down their doors?
Fuck the crypto industry is as dumb as all the AI shills are right now. Goddamn this is funny to watch, and Gensler is no joke when it comes to squashing illegal or unregulated activities.
Isn’t this about securities being exchanged? and whether these crypto assets are considered securities? The Howey Test hasn’t been decided on all the crypto assets and the SEC can’t just rug pull this technology (regardless of its merits) across the board without justification. Hence why we should wait for the courts to decide.
Frankly Congress should have defined this stuff sooner to avoid this whole issue altogether, but our congress barely knows what the internet is let alone crypto.
Regardless of whether or not Crypto ends being a good/bad thing, the US can’t just put its head in the sand and pretend that crypto isn’t here to stay.
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