JUST IN: Former-Citi execs are launching #Bitcoin Depositary Receipts, which are securities backed by Bitcoin that do NOT need SEC approval - Bloomberg 
Discussion
The suits are coming. They are coming.
Bro
They’ve been here for a decade
No they really haven’t. Many banks are still internally banned from even commenting on bitcoin.
Perhaps you misunderstand me.
There’s been plenty of visible suits in the space for very long time compared to the initial cypherpunks
Ross Stevens I believe mentioned he’s been looking at and striving bitcoin since 2014.
Also consider the on-ramp exchanges and suits on social media that changed to more Bitcoin focus.
They’re still suits not the suits you want them to be.
hard to imagine the above board use case here. DRs are custodians that serve as pathways to other jurisdictions that you cannot otherwise access. Bitcoin is not jurisdictional, and where it is illigal to own outright, the DR would not fix that unless the trust originates in your juristiction. So is this just a play on future EO 6102?
So you’re saying custodial dickbutts are coming? 😂
I never thought there'd be a scenario where I'd want to buy a jpeg but here we are
So, more shitokens 😂
This is shitcoin 💩 paper bitcoin product.