But what would you expect from @joshua_sisco, who works for Mark's buddy's wife?
Not a surprising outcome even if the media can't figure out what a judge is saying in black and white. Anti-trust law is the wrong approach to hold $FB accountable. Always has been, always will be.
Introducing a new feature on PlainSite: Flags. While we always try to be true to the government sources of documents on PlainSite, including court dockets, sometimes those documents are just incredibly complex to navigate.
It makes no sense to post information so complex or voluminous that people get lost in the noise. We now can highlight documents that are especially important and of public interest. Lawyers and notaries have done something similar for years on paper with colored plastic tabs.
(That's the inspiration for PlainSite's logo.) And now we have the digital equivalent, starting with Elon Musk's deposition transcripts in the Tesla/SolarCity merger case. $TSLA
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.
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.
@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 Audits and capital controls are obsolete, having been replaced by back-scratching, congratulatory platitudes, and golf.
@pmarca From the Inmates-Running-The-Asylum Department... $COIN
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.
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.