Posted on 11/22/2022 6:37:38 AM PST by george76
Coinbase’s CEO sold his $COIN stock so it looks like everyone’s out
Much better than dirty fiat money.
Why do we have to keep perverting the English language. Were they screwing or were his mash IMs just being rejected?
Gee, I wonder why. Maybe he should offer free tickets to a Lakers game for every investor.
“Lawmakers increased their skepticism of the cryptocurrency sector…”
Yeeah. Kinda’ starting to sound a bit scam-ish.
You realize this is the definition of a Ponzi scheme.
Somewhere around 18 months ago a bitcoin was worth something like $67,000. Soon they’ll be worth $50.
Cryptoponzi
So, 99% of the Twitter employees weren’t actually doing anything, and this massive FTX cryptocurrency debacle was being run by a small group of fools who paid little attention to industry regulations? They just sort of “did things”?
The world is not what it appears.
The global economy is a sham.
I can see why crypto currencies are popular among many people, personally I’ve always thought eventually the government could squash any and all crypto currencies if it wanted to.
We’ve had this discussion many times on FR, some saying the government squashing crypto currencies that are decentralized like bitcoin would be impossible.
You have to wonder if FTX collapsing is just the beginning of the government crashing all crypto currencies and ushering in either their own CBDC which is currently being tested or unleashing harsh regulations on crypto currencies.
The bloom is off the tulip
the amusing part of this is those calling for the corrupt & incompetent government to investigate/regulate the corrupt & incompetent crypto-fraudsters....
“You realize this is the definition of a Ponzi scheme. “
Same as a run on a bank.
“investment from Binance, which is led by chief executive Changpeng Zhao.”
If he does the same due diligence as he did for FTX, what will he find?
Which politicians were they bribing??
its becoming obvious all of this was a scam
I like it.
Genesis and its subsidiaries are owned by Barry Silbert’s Digital Currency Group (DCG) which also owns the CoinDesk news platform. It was CoinDesk that first reported about the poor financial health of FTX.
“f you haven’t heard of Barry Silbert, then you’re not alone. Although he’s an active presence on Twitter with over 220,000 followers, his name doesn’t crop up with regularity. This is strange because he’s behind nfluential entities in the crypto space and has invested in some of its best-known projects.
Silbert is the founder and CEO of the venture capital firm Digital Currency Group (DCG), which describes itself as ‘the epicenter of the bitcoin and blockchain industry.’ The company has invested in numerous crypto and blockchain projects, many of which are... Brave Software, Coinbase, Ledger, Ripple, Zcash and many, many more. DCG also has a number of subsidiaries that are themselves big industry players. These include asset management company Grayscale, as well as the blockchain news and info platform CoinDesk.
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