Rumors are circulating that Coinbase is writing #Bitcoin IOUs for BlackRock and they are suppressing price.
Discussion
Moving your coins off exchanges fixes this
Fixes which part exactly? Not that I’m saying this IS true, but what part about moving your crypto to self-custody fixes an exchanges insolvency?
Unless everybody decided to do it, all at once… NOT THAT IM SAYING EVERYONE SHOULD MOVE THEIR CRYPTO TO SELF-CUSTODY ALL AT ONCE…
It fixes just that. If you can't "claim" your Bitcoin to your address, the market is made aware that games are being played.
Not rumor …Justin Sun X post on CBBTC
I’m not surprised if that’s true.
They play games for sure.
Just a matter of time…. DUH 🙄
In any case, they can suppress the price far easier in the futures market and through borrowed ETF shares than via collusion.
I've been saying this because I understand it, intuitively.
How does this work functionally through futures? The borrowed ETF part is clear.
I’m sure there are many well-thought strategies I have no clue about, but my ape brain says: short futures to push sentiment down and spot prices along with it.
They could do this with “profit” from naked shorting the ETFs.
Most of my thoughts come from reading due diligence in the GameStop saga which I assume can just as easily be applied to the BTC ETFs. nostr:npub1xwmyzp64xx03kw9ecd7fzsj3e9dgwah6an0rdng0cc6ux4dswwjs28pyyc is the Sage here.
I say bullshit. I'm no Coinbase fan but 8 months into ETF's and them pulling this makes zero sense. It would be the end of their business in ETF's if they were caught doing it. It's just bitcoiners looking for a reason why the price isn't moving up & coming up with this.