WeTheInvestors Q&A With SEC Chair Gary Gensler x.com/i/broadcasts/1…

SEC charges Binance with the exact same accusations as FTX: nytimes.com/2023/06/05/bus…

Is anyone skeptical of these charges? Innocent until proven guilty and all, but I don't think anyone's surprised here. In crypto, centralization nearly always seems to lead to securities laws violations. The least compliant area of finance, as Gensler said.

The problem is the user experience for decentralization isn't there yet. It's a huge impediment to adoption. Without it, crypto is just another corrupt area of finance. I still believe there is tech in the space that is innovative and valuable, but regulation/oversight is needed.

LOL nice succinct summation

I've gotten a lot of questions today on whether GME traded between 9:51-9:56am. As per one data source, we don't see any trades for most of that time period. We're checking the raw data now, will report on what we find.

So for all of you who love to make fun of me, this was, in fact, a glitch. It impacted the entire market. reddit.com/r/GMEJungle/co…

It's been pointed out to me by Renato Mariotti (fairly) that these charges aren't "exact same" as FTX, which involved widespread criminal fraud. I think co-mingling of customer funds & propping up exchange by using related parties to make markets is very close to FTX accusations

Just to further clarify, this impacted Tape A, which is all NYSE-listed stocks. There were still trades taking place, but they weren't being printed. The trades will ultimately be reported when CTA posts the file (not sure when that'll be).

SEC goes after Coinbase: storage.courtlistener.com/recap/gov.usco… Looks like operating an unregistered broker, exchange and clearing agency might be a problem.

For those wondering "how to register" the SEC is pretty clear here. You're operating a national securities exchange, so you need to register as one.

Not surprisingly, SEC considers Coinbase's Staking Program to be an unregistered security.

I gotta say that the Binance graphic is WAY funnier than the coinbase one.

It's important to share the good news when it comes too. This is a very promising trend, with important downstream impacts across the economy. Let's hope that line keeps going up and to the right.

Yesterday I saw PM2.5 at 168 with spikes over 200. Even worse today. It's bad out there, and getting worse over the next couple days. Stay safe out there.

PM2.5 over 200 now in Ottawa! Yikes!

This is no joke

This is good to hear. Not that I really care about the PGA (baseball is my boring sport - though the pitch clock has really improved it), but I think it's vile to support the Saudi takeover of golf. Let's hope antitrust authorities step in and save the day... again!

Messi to MIAMI?!?! WTF! Not that I thought he'd come back to #FCB, but still disappointed.

I think Matt Levine makes a pretty common sense point here on whether tokens are functionally equivalent to stocks. I'm not a lawyer or anything, I don't know where this all goes legally, but it's a pretty strong case I think.