Ken Griffin as soon as referred to as crypto a ‘jihad towards the greenback.’ Now Citadel desires to be a market maker for Coinbase — however does Coinbase neglect?
Gary Gensler did his harm and walked away. He spent years kneecapping crypto, treating on a regular basis traders like scammers whereas letting Wall Avenue rinse and repeat the identical predatory schemes. Then, when he was executed wrecking an trade, he retired to MIT, the place he now sits in some quiet nook of a constructing, supposedly “main” innovation in digital belongings. Proper. The one factor he ever innovated was how briskly he may concern a Wells Discover.
And now, one after the other, these Wells Notices are getting tossed out by the brand new administration — confirming what all of us knew. Gensler and his crew weren’t defending anybody. They had been enjoying favorites, ensuring crypto stayed exterior the system whereas the true sharks — his buddies on the huge banks and hedge funds — stored their palms clear.
Coinbase is aware of this all too nicely. No firm has needed to battle more durable for legitimacy. Whereas Wall Avenue dismissed crypto as a joke, Coinbase constructed the infrastructure. They weren’t on the lookout for permission from folks like Gensler or Ken Griffin — they simply constructed. And after they wanted readability…
