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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="Weather Man" data-source="post: 16671564" data-attributes="member: 137766"><p>You mean like the guys who bought on 15April21 ?</p><p></p><p><a href="https://seekingalpha.com/news/3741982-sec-chair-gary-gensler-likens-stablecoins-to-poker-chips-at-wild-west-casinos" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3741982-sec-chair-gary-gensler-likens-stablecoins-to-poker-chips-at-wild-west-casinos" target="_blank">SEC's Gary Gensler likens stablecoins to poker chips at Wild West casinos: WSJ</a></p><p></p><p></p><ul> <li data-xf-list-type="ul">Securities and Exchange Commission Chair Gary Gensler, who previously taught a class on cryptocurrency at the Massachusetts Institute of Technology, doesn't see much long-term <a href="https://www.wsj.com/articles/secs-gensler-doesnt-see-cryptocurrencies-lasting-long-11632246355" target="_blank">viability</a> for "five or six thousand private forms of money," the<em> Wall Street Journal </em>reports, he said in a virtual event at the <em>Washington Post</em>.</li> <li data-xf-list-type="ul">"In the meantime I think it's worthwhile to have an investor-protection regime placed around this," Gensler added.</li> <li data-xf-list-type="ul">He relates the thousands of cryptos in existence with the wildcat banking era that took place in the U.S. from 1837 until 1863. Without federal bank regulations at the time, banks issued their own currencies.</li> <li data-xf-list-type="ul">Speaking of crypto, Bitcoin ((<a href="https://seekingalpha.com/symbol/BTC-USD" target="_blank">BTC-USD</a> -4.6%)) slides to $41.8K on Tuesday, marking an intraday low at $40K.</li> <li data-xf-list-type="ul">He also takes aim at stablecoins like Tether (<a href="https://seekingalpha.com/symbol/USDT-USD" target="_blank">USDT-USD</a>) and USD Coin (<a href="https://seekingalpha.com/symbol/USDC-USD" target="_blank">USDC-USD</a>), which are pegged at a one-to-one ratio to the dollar and are claimed to be backed by high quality assets.</li> <li data-xf-list-type="ul">"We've got a lot of casinos here in the Wild West, and the poker chip is these stablecoins at the casino gaming tables," Gensler said.</li> <li data-xf-list-type="ul">Previously, (Sept. 13) SEC's Gary Gensler says <a href="https://seekingalpha.com/news/3739254-secs-gary-gensler-said-crypto-is-rife-with-fraud-scams-and-abuse" target="_blank">crypto is 'rife with fraud, scams, and abuse'</a>.</li> <li data-xf-list-type="ul">In early August, Gensler also said crypto is a speculative asset class that <a href="https://seekingalpha.com/news/3724861-sec-chair-gary-gensler-crypto-is-a-speculative-asset-class-that-needs-more-regulation-bitcoin-ethereum" target="_blank">needs more regulation</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16671564, member: 137766"] You mean like the guys who bought on 15April21 ? [URL='https://seekingalpha.com/news/3741982-sec-chair-gary-gensler-likens-stablecoins-to-poker-chips-at-wild-west-casinos'] SEC's Gary Gensler likens stablecoins to poker chips at Wild West casinos: WSJ[/URL] [LIST] [*]Securities and Exchange Commission Chair Gary Gensler, who previously taught a class on cryptocurrency at the Massachusetts Institute of Technology, doesn't see much long-term [URL='https://www.wsj.com/articles/secs-gensler-doesnt-see-cryptocurrencies-lasting-long-11632246355']viability[/URL] for "five or six thousand private forms of money," the[I] Wall Street Journal [/I]reports, he said in a virtual event at the [I]Washington Post[/I]. [*]"In the meantime I think it's worthwhile to have an investor-protection regime placed around this," Gensler added. [*]He relates the thousands of cryptos in existence with the wildcat banking era that took place in the U.S. from 1837 until 1863. Without federal bank regulations at the time, banks issued their own currencies. [*]Speaking of crypto, Bitcoin (([URL='https://seekingalpha.com/symbol/BTC-USD']BTC-USD[/URL] -4.6%)) slides to $41.8K on Tuesday, marking an intraday low at $40K. [*]He also takes aim at stablecoins like Tether ([URL='https://seekingalpha.com/symbol/USDT-USD']USDT-USD[/URL]) and USD Coin ([URL='https://seekingalpha.com/symbol/USDC-USD']USDC-USD[/URL]), which are pegged at a one-to-one ratio to the dollar and are claimed to be backed by high quality assets. [*]"We've got a lot of casinos here in the Wild West, and the poker chip is these stablecoins at the casino gaming tables," Gensler said. [*]Previously, (Sept. 13) SEC's Gary Gensler says [URL='https://seekingalpha.com/news/3739254-secs-gary-gensler-said-crypto-is-rife-with-fraud-scams-and-abuse']crypto is 'rife with fraud, scams, and abuse'[/URL]. [*]In early August, Gensler also said crypto is a speculative asset class that [URL='https://seekingalpha.com/news/3724861-sec-chair-gary-gensler-crypto-is-a-speculative-asset-class-that-needs-more-regulation-bitcoin-ethereum']needs more regulation[/URL]. [/LIST] [/QUOTE]
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