In many ways, this is bad. It's a blatant lie that most "cryptos" are commodities; nearly 100% of them are clearly securities. And these moves will further cement the idea that Bitcoin is "just a crypto" in the public's mind, delaying adoption and increasing demoralization as people get rugged and victimized again again by these immoral casino operators. Many will wrongly put Bitcoin in the same category.

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A rug pull on crypto is needed so Bitcoin can shine through the noise.