We should all observe one downside of this news, they are targeting crypto ads only. God only knows how many ads she might have done in the past which were not published publicly. That’s already insane to hear that they need info on advertisements also.

I am still wondering why Google is not behind the bars considering they kee running millions of such ads directly or indirectly?

You do not know if the project is scam or not until it’s exposed to scams.

Moreover, is it about the money? Imagine why Elon is still free and without charges. Lolz

@rdbase. I speculate that uncle Gary might also be one of those who invested in Algorand and has lost 90% of his investment hehehe. This might be why he is cracking down on everything in the cryptospace, this might be personal for him hehehehe!

Alot of representatives during the hearing against what GG has done during his term as head of the SEC.
You can go to several media sites and view all the drilling they had put this gary guy through.
Eventually he will crack and say he doesn't know what he is doing.
You can clearly see with the questioning by Emmer had him rattled to the point his hands were shaking.
https://cryptoslate.com/us-congressman-emmer-says-sec-chair-gensler-is-incompetent

It would appear the SEC isn't interested in going after Proof of Work currencies, at least for the time being. First and foremost tho is the question of whether or not there is an "expectation of profit" one can assume when purchasing a cryptocurrency. Musk never promised anything regarding Dogecoin. Second is whether or not there is a specific governing body that steers the direction of a coin's development -- neither BTC or DOGE have such things.

As someone who's been following his DOGE-related moves rather closely, Elon did say he was going to accept DOGE for SpaceX merch payments. That's the one thing he said that he hasn't followed through with yet.

I said it in another thread: the SEC is only interested in making a show as if they're doing something and going after the easiest targets. They'll either go after perpetrators who are clearly guilty, trying to flee, shutting down the business, cleaning accounts, or they go after people with money who the SEC know can pay the fine.

I don't like XRP but the SEC was so eager to shut them down and move on to another target, but Ripple lawyered up good and defended and now when Gensler was asked if it's a security he didn't answer.
Now he doesn't even know what is and what isn't a security. He's too scared of being sued by everyone.

Gensler said Coinbase allowed for trading of unregistered securities but he didn't sue Coinbase. He allowed FTX to scam people, but rejected Ark Investment and Grayscale bitcoin ETFs, that had all the proper paperwork. What a clown world this is.

Brian doesn't seem to be a big believer in Gary and his brotherly love. Coinbase is securing an escape route from the US and got a license to operate in Bermuda. They're also securing locations and licenses in Brazil, Singapore and Canada...
Brian knows that Gary is stubborn like a donkey and won't give him a license even if Coinbase wins that lawsuit with the SEC. The SEC is going to do what it always does, play the long game to suffocate the business, like they're doing with all the ETF proposals. If they can't win in court they'll delay you for years until you get it into your little head that you're losing money doing this and leave.

I reckon that this might only be the first. If this lawsuit begins getting the attention of the community, the other exchanges and other crytospace services in America, we might witness the other founders like Jesse Powell and Cameron Winklevoss to join this war against Gensler.

I speculate Gensler might lose his job before the presidential elections on November 2024. He is becoming very unpopular. There are also people from the Republican party who appear to be using Gensler and the SEC as a storyline for their own agenda hehe.



Republicans blasted the SEC’s lawsuits against cryptocurrency firms under Gensler’s tenure and accused him of refusing to comply with congressional requests for documents.

Source https://thehill.com/business/3956812-republicans-rip-sec-chief-for-crypto-lawsuits-climate-rules/

Despite the SEC's action against Binance, the BTC balance on Binance has increased to an all-time high of 703,000 BTC (~$18 billion), while the balance on Coinbase has fallen to just 462,000 BTC (~$11.8 billion).

https://studio.glassnode.com/metrics?a=BTC&category=Exchanges&m=distribution.BalanceExchanges

SEC's strangest IMO, it says unregistered exchange. Shouldn't an IPO go through SEC due diligence first? If it's unregistered, why is it allowed for an IPO on the NASDAQ? Here you can see where the SEC is headed.
- In the end, the SEC will ask that the Coinbase account be blocked. Even though Coinbase users are 99% from America. This is not protecting, but troubling its own people.
- This SEC lawsuit has a bigger impact on Coinbase than it does on Binance. Because the Binance market is global.
- COIN share price fell 12%
- 2 Days ago Binance, Yesterday Coinbase, Maybe tonight Crypto(com), or Gemini

BinanceUS assets will be frozen by the SEC. Binance US & Binance are different entities. The trade volume is only 2% from Binance Global.