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CRYPTO Crackdown – USA Issues Binance & Coinbase with Lawsuits for Unregulated Trading & Co-Mingling. Binance is the largest Crypto Business in the world but very little is known about the business. Coinbase is the largest Crypto Exchange in the USA and is listed on Nasdaq. Both companies are now being sued on multiple charges by the SEC in the USA in landmark cases. If the SEC is victorious this will result in widespread REGULATION across the entire Crypto Industry. In this video I provide more details on the charges, look at Binance & Coinbase in more detail and discuss the implications for Crypto.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
1:46 BINANCE
4:44 BINANCE SEC CHARGES
9:12 COINBASE
11:03 COINBASE SEC CHARGES
13:35 SEC
16:15 BITCOIN
17:53 SUMMARY & CONCLUSION
#crypto
#binance
#coinbase
#ftx
#blockfi
#fraud
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Bonds
43 Comments
Joe, thanks again for doing days worth of homework for me. With the free time I'll be playing golf. (again)
Crypto are a scam
There's money. And there's currency.
The definitions I prefer are really simplistic—
a. Currency is that which can be (and often is) used as a medium of exchange.
b. Money likewise. But—
—but money has value in itself. Whereas currencies can be printed in unlimited quantities, money cannot.
I sleep well at night ……got no crypto…LOL
The bottom line is simply, if cryto currency is to become a black market, it will. Governments have no control over a shadow economy. People will trade, despite government intervention. The drug market exemplifies this fact.
I will never put one penny into crypto currencies
If increasing regulations against crypto exchanges or businesses is a Trojan horse towards the adoption of CBDC that explains why people are constantly urged to invest in crypto and bitcoin as they are an incentive for earning profits mainly through interest which the SEC would classify as a security so when crypto businesses are eventually closed down or coopted by a central bank or central authority due to regulations that would make transition or merger to CBDC much easier as people would already have a digital currency account or wallet in existence (presumably accompanied by a digital ID) and CBDC might face little resistance due to the profit incentives despite the authoritarian control and lack of freedom which CBDC would eventually extend to every individual on the planet.
Crypto is nothing more than a ponzi scheme. 😒
HI JOE have you ever heard of EF-TRADES .they deal with bitt coin
Of course Binance and Coinbase are crooks, every single crypto exchange is run by crooks, every crypto project is run by crooks. The entire crypto eco system is crooked. It's an entirely scam-based economy.
How many families can guarantee 250,000,000 Bail???
Well, according to other sources Binance moved customers money around between companies – if I understand things correctly – resulting in a Yacht for someone(!) and inflated initial trade too. Wild West never been good in the long run.
Gensler wasnt able to explain how crypto is not in compliance when he was was being questioned a few weeks ago.
I still don't understand why Crypto exists. Virtually no businesses accept it as payment. Its value fluctuates wildly and unpredictably. I like Charley Mungers assessment of crypto "Its a bunch of idiots trading turds".
‘ an extensive web of deception ‘ ….like Joe and Hunter”s bribery scheme
Hello Joe hello everyone Slava Ukraini !! 🇺🇦🦖✊
They'll never get my crypto!!!
Bianace financed by coco pops 🙂
I do wishy washy trading:)
Kinda misleading. Crypto markets aren't in deep trouble because of the US crackdown on these companies, If anything this will make Crypto markets stronger as the US gets the dead weight out of the industry. There are also decentralized exchanges that will keep the Crypto markets humming along quite nicely while this is worked out.
kinda intrested what rule or regulation they want to avoid… 😀
Crypto is and has for a long time been a glorified Ponzi scheme.
The idea of crypto as an unregulated stable currency alternative to fiat money is a great one. However, rather than being used as a currency it very soon became a commodity with unsustainable growth based on speculation. History has shown that these boom-and-bust speculative investments always fail in the end. A bitcoin has absolutely no value other than what someone else is prepared to pay for it. You may claim this is true for many investments from art to gold to stocks but Bitcoin is both without substance and far too volatile to be used for any purpose other than a speculative investment. An investment generates a return but the only reason to buy crypto is to hope that it can be sold for a profit at a later date.
One red line for me is that attempts to produce a 'stable coin' based on a relationship to either fiat money or a commodity like gold have failed. The other red line is the constant and ever-increasing advertising of crypto and crypto based 'products' as a get-rich-scheme infesting the internet and social media. Speculation based growth relies on the hyping of the 'product' in question and the gullibility of the public at large to buy into the hype for fear of missing out.
There are without question millions of people who have made millions from buying crypto early and hundreds of thousands who have managed to exact trades at the right time to make further profits but, like a run on a bank, crypto can fall to become worthless as soon as mass confidence or interest is lost.
As an IT professional, the technology underlying crypto is far more fascinating and, probably, far more beneficial than the crypto-craze we have witnessed for the past 5 years or so.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession– it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.
FedCoin is slated to release for real very soon. It's no mystery why the Feds are attacking the competition.
you forgot to add when coinbase listed on stock exchange the sec looked over their company and allowed them to list. if they had a problem 2 years ago then they did a crappy job protecting investors.
In the chinese society everyone tries to swindle everyone else.
The level of China's counterfeiting Chinese dishonesty, fraudulent behavior is beyond comprehension.
Banker Coin Etherum the Mother Asshole from which all Shitcoins Arise
It feels more so that the Fed are trying to destroy all non government crypto platforms to make way for the government controlled digital coin
Believe CRYPTO Markets are on the way out once they do get regulated.
Every MLM will eventually end.
Like I said on this site about 10 months ago, it's unregulated, and not backed up by anything real. Danger! Will Robinson. Funny all the posts saying funny money Crypto currency, that it was a good thing. Hum?
Whenever a video has "crypto" in the title, regardless of the context, I always expect a ton of cryptobots in the comments peddling their worthless playmoney and I'm always, always right.
Crypto + Chinese founder = 100% scam.
If you lose money on the eventual Binance bankruptcy then you deserve it.
Crypto is a complete ponzi scheme,it will all fall apart,buyer beware,you will get badly burnt
Crypto is the biggest con in history and governments must shut down all crypto institutions
SEC lawyer doesn’t expect to win anything in the next few years, but it looks good….so, send your sons and daughters to law school. A profession that produces nothing physical as a benefit to society, only words/document
i cant see how bitcoin can soar and stay there if people keep on cashing in their winnings which they will always do … its all just a game with equal winners and losers.
I was a tax lawyer advising on public and private investment vehicles. My standard advice to potential private offering investors was read the offering memorandum and if you don't understand it, don't buy it.
UNBACKED UNREGULATED DOESN'T EXIST WHAT POSSIBLE COULD GO WRONG ?
WITH SAME CON ARTISTS RUNNING IT AS WHEN BANK'S COLLAPSED WHICH WAS SUPPOSED TO BE REGULATED.
not complet
The derivative is a fraction of the nominal value of the security. So, 0.1% of those totals wouldn't matter. It's 0.1% of the derivative price that matters.
Im sure Binance drinks Rich Energy Drinks.
🎉 Who could have predicted 😂