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It's interesting to look at what #CFTC is asking the court for in the #Binance complaint:
1. Stop all trading immediately 2. Give us all the money 3. Actually give us more than all the money 4. Including salaries of all executives (lol @prhillman) 5. Jury trial
@prhillman 6. No one associated with #Binance in any form should ever be allowed to trade commodities, futures, or other derivatives in the American market ever again ("permanent injunction")
* small correction: @PRHillmann is Binance US's CSO not CEO
So uh, how many billions of #Tether, $USDC, $BUSD and other stablecoins has moved from #Binance to @coinbase? Because it seems like the government is about to demand all that money. $COIN
(hint: many, many, MANY billions. maybe hundreds of billions over the years.)
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🧐 @FDICGov's press release makes it sound like First Citizens Bank took all the loans that #SiliconValleyBank had on its books.
But... it did not.
$90 billion in toxic loans were left behind.
Cost to taxpayers currently estimated at $20bn but it will rise.
@FDICgov 🧵 Much of what is being written about #SVB is just as wrong as what's being printed right now about Citizens Bank "buying Silicon Valley Bank".
To be clear: $SIVB had $90 billion in loans so toxic no one would buy them.
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Couple weeks ago #Binance stopped letting anyone post to r/binance on @Reddit and said they would limit comments to the "Daily Discussion" threads. (Conveniently that meant no one can see what mods deleted on #reveddit.)
@Reddit 🧵 Also because #Binance's fans on Reddit are so numerous and lucky there have always mysteriously been exactly 888k #Binancians subscribed to r/Binance on Reddit.
Now for some reason there are 889k...
🧵3/Ω
I made a thread last month about the kind of threads the mods of r/Binance were deleting.
This is the kind of information the switch to "Daily Discussion" threads gets rid of.
According to Coinbase there is no way for users to lose their ethereum even if
1. @coinbase gets hacked (user keys gets compromised, etc) 2. there's a bug in the ethereum source code (are lawyers even allowed to comment on this?)
2. "not a common enterprise"
Here #Coinbase admits that there is a gathering together of assets, then makes up some nonsense about how bc you can sell them it doesn't count (nvm that the same is true for stocks), then pretends users won't lose if Coinbase makes a mistake (lies).
🚨Ω🚨 @Coinbase's bank is being sued for predatory lending in a large class action lawsuit filed ~8 weeks ago.
It gets worse though... Because @CrossRiverBank is also starting to have to sue people for loans that are going bad. Financials only allow 1.6% loss. $COIN
Specific allegations about how @CrossRiverBank (@Coinbase's bank! $COIN) broke the law and allegedly defrauded a bunch of people w/predatory "debt relief" lending along with #NewCreditAmerica
👀 lol #ScottShay (AKA #SignatureBank's theologian in residence, also known for his Gordon Gekko routine) got absolutely rekt on the final day of $SBNY trading. which I guess explains that weird bounce from $70 to $100 in the morning