It’s kinda clear that SEC doesn’t know what the fuck it wants and what it’s doing. The SEC appears to be acting like a toxic ex who seeks to control the relationship and uses the threat of leaving to manipulate their partner.
I’m clearly not a big fan of centralized anything, and centralized exchanges that halt trading are at the bottom of my list of fan favorites. However, with the recent drama between SEC and Coinbase, I actually sympathize with Coinbase on this one.
If you don’t know what I’m talking about, check these tweets out:
Paul Grewal (Chief Legal) whining about the Wells notice from SEC.
https://twitter.com/iampaulgrewal/status/1638660032324829184?embedable=true
Brian Armstrong (Founder/CEO) pulling a ‘sad pepe’ about the Wells notice.
https://twitter.com/brian_armstrong/status/1639720135769591808?embedable=true
Ryan Adams (Bankless) calling out thug Gary Gensler.
https://twitter.com/RyanSAdams/status/1638657677445169152?embedable=true
This jerk Gary was actually an investment banker at Goldman Sachs. The shit that he pulled there is probably worthy of treason to Earth’s financial laws. But, now boomer Gary wants to go after something that he doesn’t understand because it scares him.
Where were Gary and the SEC during the FTX saga? Where were they when 3AC defaulted due to leverage insanity and took down Voyager?
Coinbase has made real efforts to:
- a) be one of the 1st crypto-compliant exchanges in the US
- b) invest in working with the regulators in the US for clarity on US crypto laws, and
- c) not fuck over or rug-pull the crypto community.
What do they get in return - terrible treatment by SEC, that’s what Gary has to offer Coinbase.
No wonder, Brian is crying in the corner. Brian did everything for this toxic ex, but this ex decided to burn his house, his car, and his life anyway.
I wanted to write this post to show some support to Coinbase from the crypto community, that’s really the intention of this post. Nothing more nothing less. We are with you Coinbase, keep fighting the good fight. I’ll give you money and make lots of trades using Coinbase and buy your stock. Don’t you dare rug-pull me, though!
Just fucking opinions Gary, don’t sue me.
Thanks for reading The Real Slim Satoshi! Subscribe for free to receive new posts and support my work.