BITCOIN

CompOrange04GT

I like Wood, and not Oak in my butt
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E_LmT0dXIAQFMen

I ****ing loled
 

Weather Man

Persistance Is A Bitch
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20% move on a pump and dump, I wonder if the Feds will try and tease them out of the background. It was almost textbook classic.
 

Weather Man

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SEC's Gary Gensler says crypto is 'rife with fraud, scams, and abuse'

  • Securities and Exchange Commission Chairman Gary Gensler shows that he won't be easy on the industry that's still largely unregulated.
  • "We just don't have enough investor protection in crypto finance, issuance, trading, or lending," he said in his prepared testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
  • "This asset class is rife with fraud, scams, and abuse in certain applications," he said. "We can do better."
  • The SEC is also working with the Commodity Futures Trading Commission, Federal Reserve, Department of Treasury, and Office of the Comptroller of the Currency with respect to investor protection is the crypto markets.
  • "Technologies don't last long if they stay outside of the regulatory framework," he said in a hearing that will take place on Tuesday.
  • Despite regulatory risks weighing on digital assets, Bitcoin could reach $100K with bulls back in control - Bloomberg.
  • Previously, (August 4) SEC Chair Gary Gensler: Crypto is a speculative asset class that needs more regulation.
 

Weather Man

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ECB's Jens Weidermann: digital euro launch should be a 'gradual approach'
  • German Federal Bank President Jens Weidmann said the digital euro should have a limited role initially as it could disrupt the bank sector and put more pressure for central banks, Reuters reports, citing comments he made at a conference.
  • "A gradual approach might make more sense given the risks involved - that means a digital euro with a specific set of features and the option to add further functionalities later."
  • The European Central Bank ("ECB") launched the investigation phase of a digital euro project in mid-July, which is set to last for two years, but the actual launch of the cryptocurrency could still be five years away, Reuters notes.
  • Weidermann argued that in times of crisis, consumers could convert their bank deposits to central bank money, which would destabilize the financial system as they withdraw an important source of funding.
  • In the crypto universe, Bitcoin (BTC-USD +0.8%) rises even after the Securities Exchange Commission's Gary Gensler said crypto is 'rife with fraud, scams, and abuse'; Ethereum (ETH-USD +1.3%) also gains in the past 24 hours.
  • Meanwhile, the People's Bank of China recently said it will steadily push forward with research and development of its digital yuan.


OLB subsidiary DMint orders first batch of miners for cryptocurrency

  • The OLB (NASDAQ:OLB) trades 5% higher premarket on announcing that wholly-owned subsidiary DMint is deploying its first lot of some one-hundred cryptocurrency mining computers for operation at its newly acquired data centers.
  • The Antminer S19j Pro is specifically configured to mine Bitcoin and is planned to be up and running by September end.
  • DMint has secured the natural gas mineral rights necessary to power its current and foreseeable energy needs for mining operations.
  • The company plans to build out capacity to achieve 500 petahash per second while operating 24K miners over the next two years.
  • "Putting these new mining computers to work is the first step in building out our cryptocurrency mining operations that are expected to grow to serve some one thousand miners by the end of the year," CEO Ronny Yakov commented.
 

Weather Man

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SEC's Gensler: Crypto market is 'rife with fraud and abuse,' while PFOF rules need updates



  • Gary Gensler, chair of the U.S. Securities and Exchange Commission, said Wednesday that regulation will improve the cryptocurrency market, which he now believes is "rife with fraud and abuse."
  • In addition, the top U.S. securities regulator told CNBC that more oversight was needed for the payment-for-order-flow business model that has enabled companies like Robinhood (NASDAQ:HOOD) to offer zero-commission trading.
  • He argued that the PFOF process lacks transparency and might cost traders by not offering best execution of transactions.
  • SPACs also appeared on the SEC chair's list of areas that require additional scrutiny. Gensler said he wanted more disclosures on topics like fees, redemptions and earnings and revenue projections.
  • As for the crypto markets, Gensler argued that bringing more regulatory structure was "really about bringing basic investor protections" to the sector.
  • "If this market has any potential, it's not going to long survive outside of an investor-protection framework," he said.
  • Turning to PFOF, Gensler contended that a large amount of trading is now routed through dark pools and wholesalers, making it difficult to tell if retail traders receive the best execution prices for their transactions.
  • Gensler said regulators need to be update the rules "for the 2020s," noting that the last revisions took place in 2005.
  • "A lot has changed in those 16 years," he said. "I believe we can do better."
  • Gensler has been a vocal advocate for broader regulation. On Tuesday, he appeared before a congressional committee to call for increased disclosures for climate-related issues and a host of other items.
 

q6543

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This whole Evergrande BK is much too overblown.

Evergrande NOW is less than 1/4 of what Lehman WAS.
Not inflation adjusted... it's total liabilities are what the US FED spends in 1 month on bond purchases.

It's small potatoes.
 

Weather Man

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And stocks arent “ rife with fraud and abuse “ ?

There have been multiple 500 million to 1 Billion crypto swindles in the last year alone with the various crypto scams. And, ala Bernie Madoff, you certainly can get ripped off investing., but the crypto regs are in their infancy.
 

Weather Man

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This whole Evergrande BK is much too overblown.

Evergrande NOW is less than 1/4 of what Lehman WAS.
Not inflation adjusted... it's total liabilities are what the US FED spends in 1 month on bond purchases.

It's small potatoes.

They're worried its a trigger like Lehman was. No transparency in China, so who the hell knows.
 

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