The entire BTC & crypto industry has been discredited at its base. It is now completely obvious to institutional traders that the only reason BTC has any value is; it’s a manipulated tape where the buyer and seller are related entities, akin to investment pools in the 1930’s.
Worse than that; BTC is the base asset that is levered to create a one way short sale of crypto coins designed to do one thing. Separate people from their money and delever the worthless BTC investment.
Yield farming is clearly a return of principal con where
unsuspecting investors put Dollars in and receive a proxy payment back but now are gated! The false equivalency here is that investors own something with intrinsic value. They do not! Regulators should seize all available crypto and start the audit process. Then make the arrests
Lastly until volume and trade integrity can be proven (unrelated parties transacting at a price) BTC should trade at zero. Once that audit is complete then and only is it a public market and can be flashed on screens. Ultimately that evolution would give BTC a real value
as of now however that value is deliberately hidden by opaque beneficial owners that deliberately manufacture related entities and paint the tape. In antiquity Roman forums were built throughout the empire as a place of trade and regulation. We know how that system fell into ruin
rampant devaluation of silver money. Today
the Fed has moved
the Funds rate 3.75-4.00% strengthening the US Dollar and crushing BTC and Crypto to dust. A lesson as old as money itself is now destroying the aqueducts of this fiction.
Regulators should not shy away from using the power of the state to force reform. Rampant digital counterfeiting cannot continue so agency heads can polish their resumes. Political inertia is skewering unsuspecting investors the SEC, the Fed and the FTC need to crack the whipThis post is based on this twitter thread.