2025-02-26
💯 The investigation is the punishment. Just being under investigation puts you in the crosshairs of many other agencies, and makes you radioactive to business partners. A fight with the SEC could cost you $100m if you win and 10x that if you lose. We had a gun to our head.
CoinDesk
Uniswap Labs says the US SEC has closed its probe into the company and will not file enforcement actions, after the SEC dropped OpenSea and Robinhood probes
WSJ: BBG John E Deaton / @johnedeaton1 : Hayden lays out the problem when it comes to regulators more interested in pushing a political agenda than enforcing the law. Hayden mentio...
2024-02-23
Is Gemini the exception or the rule? Is this just what you get when you put a visualizer on top of Google/YouTube search? People think this is crazy but this has been going on for years. The Internet is already heavily censored/curated. It just wasn't as obvious in other formats.
Bloomberg
Google plans to “pause the image generation of people” via Gemini and “re-release an improved version soon” while working to fix its race inaccuracy “issues”
2024-02-22
Is Gemini the exception or the rule? Is this just what you get when you put a visualizer on top of Google/YouTube search? People think this is crazy but this has been going on for years. The Internet is already heavily censored/curated. It just wasn't as obvious in other formats.
PCMag
Google says the company is working to immediately fix Gemini's “inaccuracies in some historical image generation depictions”, after some users complained
Controversy is swirling around Google's generative AI tool Gemini as some users complain that its historical depictions are not accurate.
Is Gemini the exception or the rule? Is this just what you get when you put a visualizer on top of Google/YouTube search? People think this is crazy but this has been going on for years. The Internet is already heavily censored/curated. It just wasn't as obvious in other formats.
Bloomberg
Google plans to “pause the image generation of people” via Gemini and “re-release an improved version soon” while working to fix its race inaccuracy “issues”
- Critics on X say model is unable to accurately depict races — Google said it will re-release an improved version soon Source: @google_comms .
2024-01-11
@robertocommit ... Yeah, I'm sure the choice was between doubling down or killing it. Status quo probably didn't make sense to maintain and maybe they just don't have the people/vision/interest in pushing the product forward.
TechCrunch
X quietly removes the ability for paying subscribers to set an NFT as a profile picture, a feature Twitter launched in January 2022 for Twitter Blue subscribers
@Web3markets @X Because it didn't offer enough utility. Also, I didn't want to mint my own PFP just to use it here. I would have if X wanted to sell me that service conveniently, or if some other features were unlocked by having a PFP attached to my account. @Reddit does a slightly better job.
TechCrunch
X quietly removes the ability for paying subscribers to set an NFT as a profile picture, a feature Twitter launched in January 2022 for Twitter Blue subscribers
Discontinued support for NFT profile pics on @X is a step back for the industry. Reduced utility is always a loss. NFT PFPs weren't widely used but it was an MVP and never got the treatment it deserved: communities, message signing and features built around proof of ownership.
TechCrunch
X quietly removes the ability for paying subscribers to set an NFT as a profile picture, a feature Twitter launched in January 2022 for Twitter Blue subscribers
2024-01-10
You can't make this shit up.
CoinDesk
An X post from US SEC Chair Gary Gensler says that the @SECGov's “twitter account was compromised”, and that the agency has not approved spot bitcoin ETFs
The X account of the U.S. Securities and Exchange Commission, which is deciding whether to approve bitcoin ETFs, “was compromised,” the regulator told CoinDesk.
2023-11-21
USA's top decel is back with another assault on America. The masochists haven't been happy with the beatings they've been taking in NY and are shopping for a different flavor of RegDom in CA. I thought we settled all their concerns for $30m in Feb. Now they're back for seconds?
CoinDesk
In a lawsuit, the US SEC accuses Kraken of commingling customer and corporate funds while operating as an unregistered broker, clearing agency, and dealer
The U.S. crypto exchange is the latest targeted by the Securities and Exchange Commission in a series of similar actions being fought in court by other companies.
Message is clear: $30m buys you about 10 months before the SEC comes around to extort you again. Lawyers can do a lot with $30m but the SEC knows that a real fight will likely cost $100m+, and valuable time. If you can't afford it, get your crypto company out of the US warzone.
CoinDesk
In a lawsuit, the US SEC accuses Kraken of commingling customer and corporate funds while operating as an unregistered broker, clearing agency, and dealer
The U.S. crypto exchange is the latest targeted by the Securities and Exchange Commission in a series of similar actions being fought in court by other companies.
2023-10-27
Even if you thought it was ok to send client deposits to your hedge fund for gambling, why would you? If you did, wouldn't you stop when you realized you were insolvent (not $8b later)? Even if “mark to market” your shitcoins had value, wouldn't you know you can't liquidate them?
Financial Times
In a testimony without the jury present, SBF says he followed the counsel of lawyers to make critical decisions around passing FTX customer money to Alameda
Former crypto billionaire blames lawyers as court hears first snippets of testimony without jury present
2023-10-12
Each day of the #SBF trial fills me with more and more anger toward the incompetent VCs who enabled this obvious fraud, which would have been uncovered by the slightest DD (we even warned them!). One thing makes me feel better, though — nobody is down as bad as this guy. 💀
The Block
Caroline Ellison's well-prepared testimony painted Sam Bankman-Fried as the ultimate decision-maker at FTX and a corrupting influence on his subordinates
- Government prosecutors completed their direct examination of former Alameda Research CEO Caroline Ellison on Wednesday in the fraud trial of Sam Bankman-Fried.
Each day of the #SBF trial fills me with more and more anger toward the incompetent VCs who enabled this obvious fraud, which would have been uncovered by the slightest DD (we even warned them!). One thing makes me feel better, though — nobody is down as bad as this guy. 💀
New York Times
At SBF's trial, the personal dynamics between him and his friends are a vital component of the case, making clear how much his inner circle has turned on him
The FTX founder's criminal trial has made clear just how much his inner circle has turned against him. X: @lylepratt , @jespow , @bradydale , @runnerxbt , @zekefaux , @ritwik_priya...
2023-03-24
Absolute MUST WATCH. We may be witnessing the end of the USD and the dawn of hyperbitcoinization. * USD printing is out of control * Huge nations de-dollarizing trade * US scrambling to kill crypto ramps The dollars are there but purchasing power gone. https://www.youtube.com/...
CNBC
Filing: Coinbase received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+
2023-03-23
Absolute MUST WATCH. We may be witnessing the end of the USD and the dawn of hyperbitcoinization. * USD printing is out of control * Huge nations de-dollarizing trade * US scrambling to kill crypto ramps The dollars are there but purchasing power gone. https://www.youtube.com/...
CNBC
Coinbase says it received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+
- The SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.
2023-03-13
Looks like SVB UK is going to HSBC. Does the administration see this as a W? On the up side, you stuck it to “tech”. On the downside, if these allegations are to be believed, you sold your nationally strategic asset to China for $1. https://dailycaller.com/...
U.S. Department of the Treasury
The US Treasury, Federal Reserve, and the FDIC say all Silicon Valley Bank depositors will be “fully” protected, and their money will be available on March 13
WASHINGTON, DC — The following statement was released by Secretary of the Treasury Janet L. Yellen …
Looks like SVB UK is going to HSBC. Does the administration see this as a W? On the up side, you stuck it to “tech”. On the downside, if these allegations are to be believed, you sold your nationally strategic asset to China for $1. https://dailycaller.com/...
Reuters
HSBC plans to acquire Silicon Valley Bank UK for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B loans and ~£6.7B deposits
HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
2023-02-16
Step 1: Require registration to custody crypto Step 2: don't let anyone register Step 3: 🧵 https://www.cnbc.com/...
CoinDesk
The US SEC proposes a rule that would bar investment advisers from storing assets at crypto platforms and lenders that are not registered as exchanges or banks
Jesse Hamilton / CoinDesk :
2023-02-14
Oh man, all I had to do was fill out a form on a website and tell people that staking rewards come from staking? Wish I'd seen this video before paying a $30m fine and agreeing to permanently shut down the service in the US. How dumb do I look. Gosh. ⛽️💡 https://www.cnbc.com/...
Bloomberg
US financial regulators are rapidly closing crypto's key routes to the banking system, accelerating since FTX collapsed, pushing the industry to the fringes
Crypto's free pass is getting yanked as the most powerful US financial regulators rapidly close key doors to the country's banking system.
2023-02-10
Thank you. Some guidance would be appreciated. The “This is wrong but I won't tell you how to do it right. Want to find out if X works? Try it and see what happens.” approach does not help the industry nor consumers. We aren't anti-regulation but we need a clear path to operate. https://twitter.com/...
Bloomberg
Kraken agrees to pay $30M and discontinue its crypto-asset staking products to settle SEC allegations that its staking services broke US securities rules
is Coinbase next? Simon Chandler / Cryptonews : Ethereum Price Prediction as $10 Billion Trading Volume Comes In - Can $ETH Reach $2,000 Soon? Tyler Pearson / DL News : SEC hammer ...