This is not only a rant but a very based opinion, that I dare the Lawyers and Big Chief's at Coinbase to supeona in the courts... Crypto Backlash Warranted And Needed - Audit The SEC Now!
You see fellow crypto enthusiasts, I come to you with a heavy heart and a burning rage towards The U.S. Securities and Exchange Commission (the SEC), led by none other than the infamous Gary Gensler. In recent times, we have witnessed a constant targeting of Coinbase and Binance Exchange for alleged Regulations breaches. But let's call a spade a spade here – this just looks like criminal activity from within the SEC, with seeming attempts to manipulate the prices of crypto assets.
Jeez I'm not one to engage in baseless conspiracy theories... lol... but the constant attacks on these exchanges just seem to me that tad little bit fishy... It is a stinky fishy at that - Every time a new regulatory SEC statement comes out, the crypto market throws up then takes a plunge, and guess what? Could it be the same offenders from SEC, Gary Gensler and Co who ALWAYS have something to say about an Exchange or project somewhere - that they have a vested interest in seeing prices drop, so they can buy low and sell high? It wouldn't be the first time we've seen government officials engage in nefarious activities... Word out to FTX!
While we're on the topic of Gary Gensler, can someone please tell him to make up his mind already? The lack of clear cryptocurrency guidelines and the confusing rhetorical nonsense spewed out by the SEC not only makes regulations impossible to follow but also makes The SEC look like a bunch of incompetent fools. One minute they're saying cryptocurrencies are the future, and the next, they're cracking down on every exchange in sight. It's like they're playing a game of whack-a-mole with the crypto industry, and it's getting old real fast.
But what's more worrying than their flip-flopping behavior is the fact that their actions are causing significant harm to honest exchange platforms like Coinbase and Binance. These platforms strive to operate in good faith and within the regulatory framework. Yet, The SEC seems hell-bent on punishing them for something that they never really clarify in the first place.
So, I have to ask – what exactly are The SEC's motives here? Are they genuinely trying to protect investors? Or are they just using regulations as an excuse to bully the crypto industry into submission? I don't know about you, but I'm leaning towards the latter... Aaaand this is purely speculative, Bearish behaviour from within???
It has to be done, and done legally - I think it's high time we call for an audit of all the big earners at The SEC. With the way they've been conducting themselves lately, it wouldn't be a surprise if some of them have been engaging in insider trading. I mean, how can we trust a regulatory body that seems to be acting against the interests of the very people it's supposed to protect?
If you are an avid trader on Exchanges, or an employee, even C.E.O... I implore all of you to keep your eyes peeled and question everything SEC does. Challenge them where you can... It's not just about the crypto industry - their actions have far-reaching implications for the financial system as a whole. Let's demand that transparency, honesty and accountability from our regulators because if they keep going down this path, we're all in for a bumpy ride.
If Crypto cannot trust the SEC Regulators, that are NOT a global police force, what are we supposed to do? Maybe you think The SEC's actions against Coinbase and Binance are justified, or do you smell a rat? I smell the biggest raticus ratty rat poopenstinken going down... Period!