Anyone who follows me will know how often I post about Crypto: practically never.
ₛᵤᵣₚᵣᵢₛₑ!
Not so much crypto itself actually, but I'm finding it very interesting to watch the behaviour in two things currently doing down in America and the parallels between them.
I'm not much into politics but I do believe in what's right and fair and in the public interest, especially when it has knock on effects to the rest of the world and all of us peasants. Currently I am keeping an eye on the whole SEC vs Ripple case, including the Ethereum free pass speech, the documents that have just been released and how that may affect the market. What does that have to do with Hive? Well, it may not directly have anything to do with Hive, but we all know that the BTC price fluctuations have ramifications for all the other tokens/coins/securities whatever the f*** you want to call them, nobody really seems to know at this point and that's why I think this case is going to be, well, at the very least, entertaining, if not informative. We've had such a dead sideways market for so long, the recent up and down swings have at least breathed some life and emotions into the space again.
Gary Gensler raised the hackles on my back from the moment I first saw him. If that's judgmental of me or biased, then cool, I can live with that. What I did find very telling was how much flip flopping he's done over the years. He can't have it all the ways, but oh boy is he trying. The Hinman documents that came out have also been quite the scream from what I've seen of them. No, I haven't trawled through the thousands of pages (yet). Ultimately it's going to go somewhere but then, at least we, the supposed "hucksters, fraudsters, scam artists and ponzie schemers" as he likes to label all crypto enthusiasts might actually get an idea of what the hell is going on. We're all just as confused as the Senate it seems.
Mr Emmer, Davidson, McHenry, Huizenga and Mrs Wagner have asked great questions and not received particularly clear answers from the "honourable???" SEC chair. I have other words but I won't use them here.
These things take time, sure, but it's nice to see some stuff finally coming to light. He's been accused of allegedly shorting BTC just before the SEC sueing Coinbase and Binance. That will be a first (no, it won't, that was sarcasm).
So the parallels I'm seeing is that this reeks of corruption and I'm not in the slightest bit surprised people are jumping to the conclusion that he's captured because he's changed his story so many freaking times already.
Sound like someone else high up in the US? Just amazes me that even when dodgy dealings and schemes of payoffs and bribes start coming to light that nobody wants to hear it. How many high ranking people were invested (and shilling) FTX without asking the right questions? We all know how that turned out. The part that irritates me is that yes, you're going to have bad apples in any industry, but there are often bad apples who are playing the supposed "good cop" too, claiming to have the backs of the public at large. This is very rarely actually the case.
If nothing else, the market is doing something again which while it sucks to see the plummets; perhaps in the long run, there will actually be some black and white understanding.
Members of the senate are calling for Gensler to be fired. I'm with them on that, if for no other reason than the fact that he's been playing with double standards for years and there are definitely conflicts of interest involved.
What are your thoughts? Do you think we'll ever see a bull market again with all this drama unfolding? I'm keen to know other people's opinions. What do you think of Gensler?