Discover and read the best of Twitter Threads about #ConsensusInvest

Most recents (5)

1/ NEWS out of #Wyoming ahead of #ConsensusInvest, previewed by Chris Land, gen. counsel of WY Banking Division at #FordhamLaw #blockchain regulation conf today:(1) solution to #BitLicense prob for #crypto cos=open a NY branch of a WY SPDI; (2) Wyoming just released custody rules
2/ Chris explained today that #Wyoming #SPDI, which is a state-chartered bank, is a passport into ~42 US states w/o need for addl state license. In the other states, such as NY, it may need to open a branch. Federal law protects parity of national banks & state-chartered banks...
3/ ...of other states, so if a state exempts a national bank from a regulation, then other state-chartered banks are exempt from it too. Thus...drum roll...since NY law exempts national banks from the #BitLicense, #Wyoming's #SPDI almost certainly exempt too (NOT LEGAL ADVICE!)
Read 8 tweets
At #ConsensusInvest, Clayton citing manipulation concerns re: BTC #ETFs shouldn't be news. Here's how many times manipulation is mentioned in the SEC disapprovals:

Winklevoss: 65 in the disapproval, 211 in de novo review
SolidX: 89
ProShares: 47
GraniteShares: 73
Direxion: 37
I've been following these since their debut on the Federal Register (July 2016), and I remember after the first disapproval (March 2017) people on Reddit were surprised by the seemingly narrow scope for approval/disapproval. But the SEC literally told us that in advance.
Here's what's in question: Can a national securities exchange (i.e. NYSE or Cboe) amend one of its rules so it can list a bitcoin-related ETF?

Attached is some background/context for those who may need it. ImageImage
Read 12 tweets
Mohammed El-Erian on stage at #ConsensusInvest says technical innovation goes through well established boom/bust phases -- references steam, shale. Over-consumption and hype leads to wash out and then it comes back. We're in the wash out stage.
Junk bunks easier to understand b/c of notion of fundamental value, which is what you underwrite, but wouldn't buy either junk bonds or bitcoin now.
Sees bitcoin surviving as having future utility in larger ecosystem.
Read 13 tweets
1/ Threading together my presentation from @coindesk's #ConsensusInvest this week.
2/ The presentation was inspired by the 2016 white paper put out by @ARKInvest & @coinbase, which involved @WhiteAdamL, @wintonARK, @CathieDWood & myself. Link to whitepaper here:…
3/ When the white paper came out in July 2016, it got fanfare from the #cryptocommunity, but many from #WallSt dismissed it b/c the aggregate network value of #cryptoassets was $10.5B at the time. Asset classes store trillions, #crypto would never get there...
Read 25 tweets
1/ Highlights on the State of Cryptocurrency Investing from the #ConsensusInvest conference.
2/ All errors and omissions are mine, not speakers.
3/ Tl;DR - There is a lot of institutional money on the sidelines. Two main things holding them back are:
Read 64 tweets

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