BREAKING: 🚨The SEC was investigating OpenSea… then Trump took office, and the case vanished.
Weeks later, #OpenSea pivoted into a full-blown token casino—wash trading, market manipulation, and a skyrocketing token. Coincidence? Yeah, right.
This is why we #Bitcoin
🔗 Read my full breakdown. ##nostr : 👇🏽 nostr:naddr1qqgrqde4xqengvpevgmkyvfcxajxxq3qhzz35pkl67w53lpj2g62zh56g63j5zvz4q3m2nxlsfg5hxcjpwssxpqqqp65wyvxafz
The SEC didn't know what a security was in the last administration. We don't need a govt agency patrolling the market. If people want to buy scamcoins and other frauds, that's on them for not doing their research. If the scammers break contract law, prosecute them.
Who do you think is gonna bail companies and markets out when they file for bankruptcy? Taxpayers. The same taxpayers who are paying the salaries and budgets of the SEC.
How about no one bails them out? How about they just die as they should?
When the house of cards collapses? No one dies. Taxpayers foot the bill.
Free markets don’t exist when losses are socialized, and profits stay private until you watch it on Netflix 20years after.
I meant the companies should just die with no bailouts like Enron or Lehman Brothers. But adding government oversight for a problem it created is not a solution.
Unpopular opinion: Gensler wasn't the bad guy. He understood Bitcoin and he knew the rest were all unregistered securities.
Bitcoiners won't care either way, but if they did, they'd be worse off with a SEC without Gensler.
Why the SEC lost most of those shitcoin lawsuits is a mystery to me. Corruption perhaps?
Gensler understood the problem better than any one of them. but understanding isn’t enforcement.
He called most of crypto “unregistered securities” but still fumbled case after case. Why? The SEC was outgunned, outmaneuvered, or worse. never really trying.
Now, under Trump, it’s not even a fight. It’s open season.
Exactly. He seemed to be pressured to go after the wrong guys by Warren et al on one side and outgunned by crypto lobby and VC's on the other side. And now the scammers are free to take over.
