After calling bullsh*t on Luna, Celsius, and FTX well before any of them collapsed, I have a bit of credibility with the mainstream media. I want to use that credibility to call attention to the worst and largest of all the scam perpetrators in the "crypto" space, @a16z 🧵👇
Unfortunately, the formerly venerated firm sold its soul for quick profits and massive management fees. In this thread I'll compile some of the many, many tweets in which I've called out @a16z and their loudest partner pushing their fraudulent "crypto" efforts, @cdixon.
Here's the one where @a16z shilled Braintrust, a fake-decentralized staffing agency:
The ONLY way @a16z @coinbase @VitalikButerin and other "crypto" scammers can keep their grift going is to dangle millions in funding in front of the CFTC so they'll wrest oversight of "crypto" from the SEC.
The SEC is finally paying attention, reportedly planning to force @a16z to disclose private comms related to their "crypto" "investing", according to @theinformation:
While you’re here, don’t think we Bitcoiners only have arrows for full-on crypto scammers.
We also don’t put up with orange-washing fake Bitcoiners here to line their pockets with ill-gotten crypto gainz, like @APompliano, shill of #FTX & #CryptoCom.
History is written by the winners, and the crypto scammers bought their get-out-of-jail free card this election. Time to make peace, and enter The Age of Scambling!
On the plus side: if the "crypto" guys help fund the rollback of government overreach in all areas, well... 🤝
3 years later, and yep, @pmarca is still as gross as ever.
"Andreessen is at the nexus of all the ways society is decaying. He’s not responsible. He’s just representative. He’s the mascot of decay, the guy who’s always there when the negative trends accelerate, cheering them on and pushing things downhill faster." infinitescroll.us/p/marc-andrees…
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With the SEC filing suit against @coinbase, let's take a walk down memory lane and examine how this outcome was obvious, inevitable, and entirely self-inflicted by @brian_armstrong, @balajis and @a16z 🧵👇 1/15
@coinbase@brian_armstrong@balajis@a16z Back in 2020 we saw clear evidence that @brian_armstrong no longer saw Bitcoin as part of his monetization mention. Though he later deleted his post laying out the "future of crypto," Bitcoiners noted the near complete absence of the word "Bitcoin." 2/15
The most glaring omission in the SEC suit vs Binance was ETH, the token marketed and sold by the Ethereum Foundation and Consensys, being left off the list of securities. The SEC knows it will face opposition from extremely well financed backers of ETH, including Coinbase.
1/
The axis of Ethereum includes Consensys, the Ethereum Foundation, Coinbase (which is now clipping hundreds of millions of dollars in interest through its “staking” offering), and crypto venture firms like Andreessen Horowitz.
2/
That faction has been spending liberally in DC for years, funneling contributions to political campaign coffers through the Coinbase PAC and other methods, and drafting new regulations for those heavily influenced legislators to introduce.
3/
Here's a great visualization of when a "market maker" (aka, a crypto OTC desk that's given a free pile of stablecoins by a centralized token team to pump their shitcoin price) leaves its bot running on Binance when trading for everyone else is halted.
With @brian_armstrong and @iampaulgrewal spreading the falsehood that the SEC supposedly OK'd every aspect of their possible securities offerings, let's look at what the SEC ACTUALLY sent to @coinbase regarding their registration statement: 🧵👇
@brian_armstrong@iampaulgrewal@coinbase "We note your disclosure that "[t]he test for determining whether any given crypto a is a security is a highly complex, fact-driven analysis that evolves over time, and the outcome is difficult to predict."
@brian_armstrong@iampaulgrewal@coinbase Please emphasize that this test is a legal test and is different than your scoring model, which is not a legal standard and only a risk-based assessment that does not preclude legal or regulatory action based on the presence of a security."