Kamil Gancarz ₿ Profile picture
Jun 6 6 tweets 6 min read Twitter logo Read on Twitter
1. What a mess these two #SEC lawsuits have created: first, the one filed yesterday against #Binance, and second, the one today against #Coinbase! What are the reasons? The SEC has deemed 12 #crypto tokens as securities, namely: Image
2. BNB, BUSD, SOL, ADA, MATIC, #FIL, ATOM, #SAND, #MANA, #ALGO, AXS, and COTI. Because of this, the SEC is accusing both crypto exchanges of running illegal exchange operations. How might this affect the broader crypto market? First of all, we have an increased risk associated Image
3. with #altcoins. Therefore, building a crypto portfolio using blue-chip coins like #Bitcoin and #Ethereum would be much more sensible under these circumstances (however, please bear in mind that ETH is not entirely outside the possible #SEC regulatory purview). Image
4. Secondly, a much more severe consequence could be the #delisting of the aforementioned coins from many crypto exchanges, especially those with close ties to the #US, like #Kraken, which could damage their #market prices. Image
5. Thirdly, the most extreme consequence could be an injunction to freeze #Binance’s #funds due to ongoing legal proceedings. This would greatly affect Binance’s #liquidity and could lead to significant price fluctuations on overall #market.
6. While I think this is rather unlikely, it would have massive consequences for the industry and prices in the short term.

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More from @kamilgancarz

Jun 7
1. Unfortunately, my prediction yesterday proved correct. The #SEC has filed a motion for a preliminary #injunction and a temporary #restraining order to „freeze” Binance’s assets in the US. It won’t block withdrawals, but please be aware that you may @AshBennington @RaoulGMI Image
2. experience longer wait times, particularly for withdrawals exceeding $100,000, due to additional rules imposed on #Binance.US.

The rule stipulates that in order to move customer funds exceeding $100,000, written approval from two of the company’s senior #executives is Image
3. required, creating a significant inconvenience. Is the #SEC really acting in the interest of consumer safety and protection of their #financial wellbeing? On a positive note, this will only affect #Binance.US for now.I hope the issue does not spread to other Binance entities.
Read 4 tweets
May 18, 2022
1. Dear All, I would like to debunk the rumors, that I have been hiding due to #crypto market crash. Every year on beginning of May I go for vacations with my family, and I spend time with them not working.
2. I understand that it was very thought time in the market but to be frank nothing has changed with my investment thesis and these price that we have today are great buying opportunity for #Bitcoin and #Ether, and...
3. if you don’t exceed certain percentage level of exposure on your total investment portfolio you should think about using these levels to accumulate more. (Not financial advice). However please remember that this is and will experience great level of #volatility,
Read 8 tweets

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