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."
@brian_armstrong @iampaulgrewal @coinbase "We note your disclosure that "[p]ublic statements by senior officials at the SEC indicate that the SEC does not intend to take the position that Bitcoin or Ether are securities (in their current form)."
@brian_armstrong @iampaulgrewal @coinbase Please revise this risk factor to clarify that Bitcoin and Ether are the only digital assets as to which senior officials at the SEC have publicly expressed such a view, and further clarify that as to all other digital assets there is currently no certainty under the applicable…
@brian_armstrong @iampaulgrewal @coinbase …legal test that such assets are not securities, notwithstanding the predictions of your scoring model."

(Editor's note: the above section does NOT contemplate Ethereum as an interest-bearing POS coin that centralizes even further over time by design.)
@brian_armstrong @iampaulgrewal @coinbase Here's the url: sec.gov/Archives/edgar…

And here's Coinbase begging for ANYTHING other than the laws on the books to apply to their business model of providing exit liquidity to scamming crypto insiders:


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More from @coryklippsten

Apr 26
I talk a lot about wash trading on Binance. Here's a great visual to help you see what their market makers do to fake demand for worthless tokens.

The reason we could see it on the chart is because Binance HALTED trading on FTX, but left their own market-making bots running 😂 Image
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Why won’t SEC answer Yes/No on “is ETH is a security?”

Congress defined “security” as a “flexible rather than a static principle, capable of adaptation to meet the countless and variable schemes devised by those who seek the use of the money of others on the promise of profits.” Image
Straight from page 6 of the Bittrex complaint

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Apr 19
Is this real?

Selected clauses from a future SEC complaint against @coinbase, with reference to Ethereum being a security:
179. From the time of its offering and continuing through the Relevant Period, ETH was offered and sold as an investment contract and therefore a security.🧵👇
180. Today, two entities are responsible for Ethereum: (1) the Ethereum Foundation, an organization purportedly focused on Ethereum “protocol governance, token dynamics and supporting grassroots, open-source development on the Ethereum ecosystem”; and (2) Consensys, Inc., a…
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As we've said for years, Scampeng Zhao trades against his own customers, ripping their faces off in the Binance czasino.

Spelled out in new charges from the CFTC. Image
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