Share this page!

PlainSite Profile picture
Twitter logo
15 Jun, 6 tweets, 2 min read
Did someone say they wanted 300 pages of documents about cryptocurrency regulation? $COIN
New! California DFPI Documents Regarding Cryptocurrency Part I: plainsite.org/documents/2dkk… $COIN
When Tether blows up, remember that it was on Robert Venchiarutti's watch. Image
And not just in the abstract. $COIN Image
Gee, maybe! After all, this has been going on for about eight years now (2018) and a financial regulator can only fake sleep for so long... $COIN Image
The most important words in these documents are "Smoke Tree." CC: @Bitfinexed

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with PlainSite

PlainSite Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @PlainSite

PlainSite Profile picture
16 Jun
This is a smoking gun e-mail. Since August 2019 at least, the California DFPI has known that Tether and similar "stable coins" pose a risk to anyone using the financial system. Yet Bob Venchiarutti has opted to do precisely nothing about it.
Then, in December 2020, Tether Limited registered with FinCEN—as it should have years earlier—as a Money Services Business under the Bank Secrecy Act. Two problems: it doesn't have state licenses required everywhere that Tethers are used, and it lied about where that is. Image
This is as brazen and consequential a violation of 18 U.S.C. 1960 as there ever has been: operation of an unlicensed money transmitting business. It's also a violation of the California Money Transmission Act. There is no DFPI or predecessor legal opinion exempting stable coins.
Read 7 tweets
PlainSite Profile picture
16 Jun
New! California DFPI Documents Regarding Cryptocurrency Part II: plainsite.org/documents/2e4p…

With special guest appearance from @pmarca! $COIN
@pmarca The California DFPI is hard at work regulating cryptocurrency companies. Audits and capital controls are obsolete, having been replaced by back-scratching, congratulatory platitudes, and golf. Image
@pmarca From the Inmates-Running-The-Asylum Department... $COIN Image
Read 5 tweets
PlainSite Profile picture
14 Jun
CNBC has been running a factually false front-page headline for pretty much all of Sunday, both before and after it was updated. Elon Musk did not say that $TSLA *will* accept bitcoin again *as* something has happened. He said the company *might* depending on future conditions. Image
Editors write headlines, not reporters. But this is particularly unacceptable as the same network also notes that this "news" has led to a price boost in BTC of 13%. Whoever wrote and/or approved this is utterly brain-dead, should be fired, and should never work in media again.
In short, if you can't tell the difference between what did happen and what might happen, get away from the content management system.
Read 5 tweets
PlainSite Profile picture
9 Jun
Jonathan Chang kindly offered to share "insight" on @AaronGreenspan for reporting on $TSLA.
@AaronGreenspan In return, we offer the following insight on Attorney Chang:

He's breaking the law.
@AaronGreenspan More insight: the e-mail below regarding SEC Investigation No. SF-4322 was sent by the SEC on December 4, 2019.

Chang quit $TSLA two days later.

Chang had been with Tesla for years, happily handling Elon Musk's dirty work.

Two days.
Read 4 tweets
PlainSite Profile picture
9 Jun
New! Tesla and Elon Musk SEC Communications 2019-2020: plainsite.org/documents/2d0f…

After a year of preparation for response, key words in the SEC's cover letter:

"in anticipation of litigation" $TSLA
These documents reveal that as expected, Elon Musk's Twitter Sitter changed over time. It wasn't always Yun Huh. $TSLA
They also reveal John Hueston, Musk's former lawyer who disappeared mid-SEC case without formally withdrawing, writing in a manner consistent with someone who was fired (and also highlighting the conflict problem between Musk and $TSLA).
Read 14 tweets
PlainSite Profile picture
7 Jun
New! Tesla SEC FOIA Response to The Wall Street Journal: plainsite.org/documents/2cga… $TSLA
In which the centi-billionaire CEO wishes to bully the federal government personally. Image
The SEC specifically identified $TSLA lawyer Yun Huh as "Securities Counsel/Disclosure Counsel," making him a prime candidate for the official Twitter Sitter, at least at the point in time the letter was written on May 8, 2020. Image
Read 10 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @PlainSite has new unrolls!

Check out other threads from @PlainSite!

Read all threads by @PlainSite

:(