bobby on Nostr: This… I believe the crapshow that FTX demonstrated was not only allowed to happen ...
This…
I believe the crapshow that FTX demonstrated was not only allowed to happen but it was sanctioned to happen by higher ups in the federal government. They know that Bitcoin will continue to rise and they know it’s going to eventually go like crazy. They want fractional reserve Bitcoin because they think they can control Bitcoin.
In the long term picture, they are fighting windmills and chasing the wind. In the short term/mid term they might be moderately successful in suppressing some price action relative to fiat.
I believe the crapshow that FTX demonstrated was not only allowed to happen but it was sanctioned to happen by higher ups in the federal government. They know that Bitcoin will continue to rise and they know it’s going to eventually go like crazy. They want fractional reserve Bitcoin because they think they can control Bitcoin.
In the long term picture, they are fighting windmills and chasing the wind. In the short term/mid term they might be moderately successful in suppressing some price action relative to fiat.
quoting nevent1q…6q0fMy opinion. They are trying to choke any on ramps that are not thru the Wall Street custody solutions such as Fidelity, BNY Melon, Nasdaq and etc.
More custodial paper trading the more control.
Could be wrong. 🤷🏻♂️