How soon until Bitcoin crashes?

[irvinehomeowner]

 

[morekaos]

It’s too bad that some people didn’t listen….a fool and their money never stay together long😂😂😂

 

[morekaos]

This is what happens when fools try to run the asylum…crypto is the same, so is Robin Hood…and I have warned about that too…as soon as the ships go down… the sharks come cruisn…😂😂😂

'Roaring Kitty' GameStop investor hit with lawsuit​

A man who became a key player in frenzied trading of GameStop shares last month has been hit with a class action lawsuit.
Keith Gill, known as 'Roaring Kitty' on YouTube, allegedly duped retail investors into buying inflated stocks while hiding his sophisticated financial background.
Mr Gill has downplayed his impact and rebutted claims he violated any laws.
Separately, he will testify on Thursday to Congress about the "Reddit rally".
"The idea that I used social media to promote GameStop stock to unwitting investors is preposterous," Mr Gill said in the prepared testimony.

'Roaring Kitty' GameStop investor hit with lawsuit

Keith Gill is being sued over claims he duped fellow investors into buying its shares last month.

www.bbc.com

 

[morekaos]

Feeding Frenzy….

New York AG Letitia James sues co-founder of bankrupt crypto lender Celsius Network who 'defrauded investors out of billions' by making 'risky loans' - including $1B for Sam Bankman-Fried's hedge fund

· AG Letitia James filed the lawsuit against Alex Mashinsky on Thursday

· Accused him of defrauding investors out of billions in cryptocurrency

· Mashinsky stepped down as CEO of bankrupt Celsius Networks in September

· Lawsuit alleges he falsely touted Celsius as a safe alternative to banks

· But says Celsius made 'risky loans' including $1B for Alameda Research



https://www.dailymail.co.uk/news/ar...r-bankrupt-crypto-lender-Celsius-Network.html

 

[morekaos]

Remember NFT’s ….yah they have collapsed right along side…the world is so full of idiots…who will run out of money first?😂😂😂

French NFT developer, 24, is arrested at New York airport and charged with scamming buyers of his 'Mutant Ape Planet' digital collectibles out of $3M

· Aurelien Michel, 24, was arrested on federal charges at JFK airport on Thursday

· A French national who lives in Dubai, Michel created 'Mutant Ape Planet' NFTs

· Prosecutors say Michel perpetrated a 'rug pull' scam on buyers of his NFTs

· He is accused of fleecing buyers out of $2.9 million and fleeing with the cash

https://www.dailymail.co.uk/news/ar...ator-Aurelien-Michel-charged-3M-NFT-scam.html

 

[usctrojancpa]

The whole NFT mania marked the peak of the market for a lot of things. Never invest in anything that doesn't have some intrinsic value is an easy concept to follow.

 

[irvinehomeowner]

What's insane is BTC is still higher than it was pre-panedemice (except for that weird 2017 spike).

 

[morekaos]

whatever the asset…it’s always just a jenga game…😂😂😂

Crypto giant Genesis is 'days away' from bankruptcy after suffering steep losses in wake of FTX collapse: Firm owes creditors $3 BILLION - including $900M to Winklevoss twins​

• Crypto broker Genesis is said to be in the final stage of its Chapter 11 paperwork
• The company, which is owned by venture capital firm Digital Currency Group, had been considering filing for some time, as it reportedly owes creditors $3bn
• Among those are customers of Cameron and Tyler Winklevoss's Gemini
• The statuesque twins - perhaps best known for their protracted legal battle with fellow billionaire Mark Zuckerberg - recorded $900m in losses when FTX fell
• Cameron and his brother's exchange used Genesis as its main lending partner, leaving the brothers - and millions of their customers - the red as a result

 

[irvinehomeowner]

There has to be some type of regulated digital currency that will come out of all this... although the current credit card/debit card system probably works.

Most people are using Venmo/Zelle and many retailers are going cashless.

As morekaos said.. I think crypto's main utilization was for nefarious transactions.

All those data encryption hacks were paid out in Bitcoin for a reason.

 

[nosuchreality]

Just like Amazon's start, shank the tax man and dodge regulations.

 

[morekaos]

As I have said before…regulation takes away the reason crypto is successful…lack of regulation, taxation and controls is why people use it and create liquidity. You can’t have an active crypto market if you try to regulate it….it’s a paradox with no solution.🤷🏽‍♂️😆😆😆

 

[morekaos]

…and the hits just keep on coming…

Silvergate shutting down operations and liquidating bank​

Silvergate Capital announced on Wednesday that it will wind down operations and liquidate Silvergate Bank. The company’s stock is down more than 40% in after-hours trading.

“In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward,” the company said in a statement.

https://www.cnbc.com/2023/03/08/sil...are|com.apple.UIKit.activity.CopyToPasteboard

“industry and regulatory developments “? You mean…rules? Like I always said, built by criminals for criminals.🤦🏽‍♂️😆😆😆

 

[morekaos]

I tried to warn people. Here is the real reason.
Crypto is the CDO of this cycle…🤷🏽‍♂️🤦🏽‍♂️

Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure

https://www.cnbc.com/2023/03/11/sta...are|com.apple.UIKit.activity.CopyToPasteboard

 

[morekaos]

Made by criminals for criminals…(not DM)

Crypto-friendly Signature Bank was facing criminal probe over money laundering concerns ahead of collapse

· DOJ and SEC were said to be investigating Signature Bank's dealings with crypto clients ahead of its collapse

· Regulators were specifically looking to see if the institution took sufficient steps to detect potential money laundering

https://www.bnnbloomberg.ca/signature-bank-faced-criminal-probe-ahead-of-firm-s-collapse-1.1895585

 

[morekaos]

Now where will all the Dems get their money?...Criminals love crimiinals…(not DM)

Sam Bankman-Fried secretly transferred $2.2bn from FTX to his personal account and five members of his inner circle took $1bn more before crypto exchange collapsed, bankruptcy court filings claim

· He faces federal charges related to FTX's collapse but has pleaded not guilty

· He is detained at his parents' house in California until the trial starts in October

https://www.ft.com/content/562161ec-c771-46da-9d09-a99620a8e142

 

[morekaos]

Wanda ya know….woke crime does pay…

Aloha suckers! Silicon Valley Bank's failed CEO Gregory Becker escapes to his $3.1 million Hawaiian hideaway days after being fired, leaving the chaos of the collapse in the dust​

Gregory Becker and his wife Marilyn Bautista flew first class to Maui on Monday and are now holed up in their luxurious three-bed, three-bath townhouse, DailyMail.com can reveal

• Ousted Becker, 55, put the Silicon Valley Bank collapse behind him and was seen walking the streets of Lahaina in shorts, a t-shirt and flip flops
• The Justice Department has launched a probe into his decision to cash out $3.57million of stock just weeks before the bank folded

SVB's failed CEO Gregory Becker escapes to Hawaiian hideaway

Gregory Becker and his wife Marilyn Bautista flew first class to Maui on Monday and are now holed up in their luxurious three-bed, three-bath townhouse.

www.dailymail.co.uk

 

[morekaos]

COIN is going the way of HOOD and for that matter RIVN.....Pay no attention to that man behind the curtain!!!

Chickens meet roost…

SEC charges eight celebrities including Lindsay Lohan and Jake Paul with 'illegally touting' crypto currency and failing to disclose what they were paid: Six agreed to $400,000 settlement without admitting guilt

· As well as Lohan and Paul, the regulator charged rappers Soulja Boy and Lil Yachty, singers Akon, Ne-Yo and Austin Mahone, and pornstar Kendra Lust

· They are accused of touting cryptos without disclosing they were being paid

· The eight are charged alongside Chinese entrepreneur Justin Sun who, as well as paying the celebs, allegedly manipulated coin prices with fraudulent trades

https://www.dailymail.co.uk/news/ar...ohan-Jake-Paul-illegally-touting-cryptos.html

Coinbase warned by SEC of potential securities charges

· The SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.

· Coinbase said the warning wouldn’t mean any changes to the exchange’s current products or services.

· The notice is the second warning from the SEC to a crypto entity after a February notice to stablecoin issuer Paxos.

https://www.cnbc.com/2023/03/22/coi...rce=iosappshare|com.apple.UIKit.activity.Mail

 

[morekaos]

Not just run by criminals but idiots and morons on both sides of the transactions….

Crypto 'prodigy', 23, is 'abducted and TORTURED' after 'scamming' investors out of $29M before blowing $12M on fleet of supercars, luxury vacations and a private jet

· Aiden Pleterski, 24, is currently going through bankruptcy proceedings

· Authorities are trying to recover $29million he allegedly swiped from investors

· New report suggests he was kidnapped and held for millions in ransom

https://www.dailymail.co.uk/news/ar...abducted-TORTURED-scamming-investors-29M.html

 

[morekaos]

How about that?…

US regulator sues top crypto exchange Binance, CEO for 'willful evasion'​

Securities and Exchange Commission alleges Binance mixed billions in customer funds and lied to regulators and investors

SEC sues Binance and accuses crypto exchange of mishandling funds

Securities and Exchange Commission alleges Binance mixed billions in customer funds and lied to regulators and investors

www.theguardian.com

 

[OCtoSV]

How about that?…

US regulator sues top crypto exchange Binance, CEO for 'willful evasion'​

Securities and Exchange Commission alleges Binance mixed billions in customer funds and lied to regulators and investors

SEC sues Binance and accuses crypto exchange of mishandling funds

Securities and Exchange Commission alleges Binance mixed billions in customer funds and lied to regulators and investors

www.theguardian.com

I have seen one bona fide use case - the protesting Canadian Truckers who had their bank accounts frozen by the Canadian govt. In the US however as a normal guy who doesn't plan on engaging in any type of behavior that would get my bank account frozen I'm at a loss to define the transactional value beyond speculation/cap gains.