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Army of Spies Profile picture
@ArmySpies
Aug 5 • 3 tweets • 2 min read • Read on X
I know everyone is trying to celebrate the "liquid staking is not a security" guidance. 🧵

But, be aware: that guidance is not aimed at native liquid staking.

They are using a "different" (being charitable here) definition of "liquid staking" to protect issuers of tokens related to non-native liquid staking:

sec.gov/newsroom/speec…Image
Instead Cardano should look to the previous guidance on staking where the SEC gave its view on what it calls "Protocol Staking":

sec.gov/newsroom/speec…Image
In that previous guidance, the SEC said that "Protocol Staking Activities" include a few different things. Read that Second category and tell me what it sounds like: Image

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More from @ArmySpies

Army of Spies Profile picture
Jul 31
White House Crypto Report!

A🧵of the highlights.

Let's go...

whitehouse.gov/wp-content/upl…Image
Very interesting tax proposals starting on p. 123.

First up: de minimis tax exemption. We need this to make crypto money again!

Application to airdrops = a bonus solution to a huge practical inconvenience.Image
Taxing staking rewards only when you sell. For the love of god...please! As many have pointed out, we don't tax the miner when they mine the gold or the farmer when they harvest the crop. Tax on disposition. Image
Read 20 tweets
Army of Spies Profile picture
Jul 14
The entire crypto space is sleeping on how much things change when decentralization is the benchmark.

Cardano already did the work.

Enjoy your new SEC masters, centralized chains! 🧵 Image
Here's the section-by-section:

financialservices.house.gov/uploadedfiles/…
Here's the whole bill (as of introduction on29May2025):
financialservices.house.gov/uploadedfiles/…
Read 10 tweets
Army of Spies Profile picture
Jan 26
1) This is the crux of the matter.

In Cardano our thesis has always been that decentralization IS the only real differentiator. Ecosystems focused on everything BUT decentralization will eventually find big finance/big tech/corps dominating those other metrics.
2) Decentralization will be the only moat that matters in the face of such a corpo onslaught.

The "look at our TVL...look our active daily users...never mind our decentralization" narrative = nothing once big fin/big tech/etc care enough and are unbound enough by regs.
3) They are already interested enough (see Larry Fink/Black Rock). It's only a matter of being unshackled from regulation.

Zuckerberg would already have an utterly dominant position if not for being stopped by Washington & the EU 6 yrs ago (see en.wikipedia.org/wiki/Diem_(dig…
Read 7 tweets
Army of Spies Profile picture
Jan 6, 2024
Day Six of World Carnivore Month

Ahhhhh...interesting observations about the Stanford Twins study and the related Netflix documentary!

Let me get this straight, the meat eater twin highlighted here gained more muscle and lost more fat...while the "benefit" to the Vegan was losing muscle and less fat loss?

...and this is supposed to make me NOT WANT to eat meat?
In a second set of highlighted twins, the meat eater even lost very slightly more overall weight while the weight loss of the "vegan twin" was even more attributable to muscle loss?
Image
Image
Read 8 tweets
Army of Spies Profile picture
Jul 28, 2023
Cardano Rumor Rundown July 28, 2023

1) Here's the Financial Innovation & Technology for the 21st Century Act (FIT21). This is probably as good a regime as we will see. Provisions will seem familiar. docs.house.gov/meetings/BA/BA…
2) FIT21 traveled through two different committees in the House.
3) FIT 21 passed the House Financial Services Committee. Then on to the House Agriculture Committee (the wheelhouse of which includes commodities).
Read 14 tweets
Army of Spies Profile picture
Jul 27, 2023
It seems like people are still missing some important points on #Worldcoin.

1) The iris code is not a hash or otherwise designed to obscure the details of your iris. It is a direct representation of YOUR iris. It is designed SPECIFICALLY to identify you. Image
2) They will store that direct representation of your iris in a DATABASE. Yes....I said DATABASE. It'll be there with the other irises they've scanned. Image
3) They say they'll use ZK Proofs to disconnect your identity from your iris. But, your iris code will still be stored in a DATABASE somewhere.

Imagine a new crypto project wanting to store your fingerprints in a database: "don't worry, no way to link your name, ZKP, etc." Image
Read 6 tweets

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