re: Official CryptoTalk Thread

Gensler also mentioned the lending platforms and DeFi platforms and said they're offering securities without being registered, that's probably related to the different states that have taken action against BlockFi recently.

I have to agree with him, these platforms have billions of dollars and registration isn't actually that expensive in comparison. These platforms just want to act like banks without anyone being able to look at their balance sheets.

Seems like this could put some significant downward pressure on the markets eh?

def odd timing especially before eip1559

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I have to agree with him, these platforms have billions of dollars and registration isn't actually that expensive in comparison. These platforms just want to act like banks without anyone being able to look at their balance sheets.

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But that's kind of the point of DeFi. You have somewhat autonomous platforms/dapps where one can lend out money to someone else without a bank and instead use a smart contract.

I can see the argument for things like Voyager and Coinbase where they're acting as the intermediary to loan out money and pay back interest.

hex is the only thing doing great right now lol

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hex is the only thing doing great right now lol

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Yeah baw

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People are afraid to sell it because of the sacrifice so there is artificially only buy pressure.

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Umm..It started pumping after the sacrifice ended.

People are buying HEX for the Pulse copy. Hex dumped 85% over time after the big pay day. Expect HEX to pump for the copy then dump over time similarly, although, not as large of a dump.

isn't it kinda weird that gensler said almost every crypto is a security under the Howey test and said “I’m very clear on this.” and yet no one seemingly cares

Yeah, shows how much I know