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Except Crypto isn’t regulated like stocks, so what your likely seeing is the exchange themselves shutting off service to lock in their customers while the excha

Except Crypto isn’t regulated like stocks, so what your likely seeing is the exchange themselves shutting off service to lock in their customers while the exchange liquidates its positions.

solveit 5y ago
Not Coinbase.
eloisius 5y ago
Who are they liquidating their positions to if they are shutting off access to exchanges? Every seller needs a buyer.
- throwaway_kufu 5y ago
  To all the decentralized exchanges where poor fools have their money locked up to be sniped.
- 3327 5y ago
  Crypto isn’t governed by finra regulations. Its wild west, therefore wildwest tactics like front running etc are fair game. Gg for those of you who maxed out credit cards to buy crypto
  - eloisius 5y ago
    I have no doubts about front-running, but that would still mean they need suckers that have access to exchanges in order to liquidate their positions.
traveler01 5y ago
Or probably their servers didn't have the capacity to answer all those requests.
kemonocode 5y ago
Nice try, but Coinbase is one of the most, if not THE most tightly regulated exchange out there. [0] [0] https://help.coinbase.com/en/coinbase/privacy-and-security/other/coinbase-regulatory-compliance https://help.coinbase.com/en/coinbase/privacy-and-security/o...
- throwaway_kufu 5y ago
  It’s the same company that attempted to keep its customers Bitcoin cash when Bitcoin forked right? Then only backed down after consumer backlash? Same company that tipped off its employees to buy Bitcoin cash to pump it before it was listed and then it was dumped on day 1?
paganel 5y ago
> to lock in their customers while the exchange liquidates its positions. Not an expert in legal and financial matters, but that sounds like it would start a FBI inquiry and even prison-time for all those involved.
- atatatat 5y ago
  > all those involved Never.
- thefounder 5y ago
  so many FBI inquiries started from the GME fiasco, right?
  - throwaway_kufu 5y ago
    You seem to be sarcastic but in fact yes the Robinhood/GameStop BS resulted in both a congressional probe and it skipped the FBI and went straight to the prosecutors at the Department of Justice.
    - thefounder 5y ago
      Looks like very serious stuff happened indeed. I'm not sure about why I forgot about the congressional probe. Perhaps it's because for the people who lost or made money out of this nothing changed. It's good to know that when bad stuffs happens on regulated markets there will be a congressional probe while on the crypto market you have no prime BS on tv.
    - onemoresoop 5y ago
      And it's not only Robinhood. Citadel, the market maker seems to be the brain behind all this price manipulation and media attacks on AMC and GME and selling a whole lot of synthetic shares on the market which when retail investors buy do not affect the price. I've been following this saga closely and am beyond horrified of how corrupt our free market is. It is not free at all and heavily manipulated.
- AlexandrB 5y ago
uberdru 5y ago
True. The whole run up in crypto has been so closely tied to Goldman backing Coinbase's IPO that it's laughable.
thefounder 5y ago
>> Except Crypto isn’t regulated like stocks, Except that most of the time that means nothing in practice. Just look at the GME saga and you have customers liquidated, customers not being able to buy, some not even able to sell. And on top of that the CEO of Interactive Brokers setting a target price for the stock. All this so that few highly leveraged hedge funds can get away from the short squeeze cheaper along with their lender/broker.
- throwaway_kufu 5y ago
  Except it doesn’t mean nothing because there are a bunch of lawsuits against Robinhood, because the law provides a remedy for the bullshit they pulled.
  - thefounder 5y ago
    Right! Let me know when they get their money back. I thought that when bad stuff happens on regulated markets at this level(i.e congresional probe etc) the DA, SEC, FCA or whatever agency is in charge is supposed to intervene and make it right. And btw it wasn't just RobinHood. At some point all the retail brokers(i.e Interactive Brokers) decided to hold various positions(buy/sell). People can sue coinbase and any other shady broker as well. If you've lost 10K I doubt you are willing to spend even more to get it back in court be it coinbase, RobinHood or any other exchanger/broker with an army of lawyers.
    - throwaway_kufu 5y ago
      Look I’m as jaded as the rest, like everyone. I’ve seen mass manipulation to promote bullshit wars. I graduated in 2008 and I am still told to shut up and say thank you to the banks for paying back taxpayer loans with interest that bailed them out of their own fraud and let them consolidate the market. I saw the CDC initially lie about masks to allegedly preserve supplies for healthcare providers. I saw the government take trillions in future taxes and mostly give it to businesses and for the FED to leverage into even more money to prop up the stock market (hey, all time highs again mid pandemic). Still, for all the BS lawyers get, much of it deserving, for every lawyer behind the brokers/investors/funds there are others representing the victims. These are the types of lawsuits that include egos so big that sometimes discovery of emails/communications and the prospects of sitting for depositions result in a resolution, and even change. It’s funny you mention the army of lawyers, because many of these cases have been consolidated and one 1 Zoom hearing were 141 lawyers…they represented the plaintiffs.

Except Crypto isn’t regulated like stocks, so what your likely seeing is the exchange themselves shutting off service to lock in their customers while the exchange liquidates its positions.

solveit 5y ago

Not Coinbase.

eloisius 5y ago

Who are they liquidating their positions to if they are shutting off access to exchanges? Every seller needs a buyer.

throwaway_kufu 5y ago
To all the decentralized exchanges where poor fools have their money locked up to be sniped.
3327 5y ago
Crypto isn’t governed by finra regulations. Its wild west, therefore wildwest tactics like front running etc are fair game. Gg for those of you who maxed out credit cards to buy crypto
- eloisius 5y ago
  I have no doubts about front-running, but that would still mean they need suckers that have access to exchanges in order to liquidate their positions.

traveler01 5y ago

Or probably their servers didn't have the capacity to answer all those requests.

kemonocode 5y ago

Nice try, but Coinbase is one of the most, if not THE most tightly regulated exchange out there. [0] [0] https://help.coinbase.com/en/coinbase/privacy-and-security/other/coinbase-regulatory-compliance https://help.coinbase.com/en/coinbase/privacy-and-security/o...

throwaway_kufu 5y ago
It’s the same company that attempted to keep its customers Bitcoin cash when Bitcoin forked right? Then only backed down after consumer backlash? Same company that tipped off its employees to buy Bitcoin cash to pump it before it was listed and then it was dumped on day 1?

paganel 5y ago

> to lock in their customers while the exchange liquidates its positions. Not an expert in legal and financial matters, but that sounds like it would start a FBI inquiry and even prison-time for all those involved.

atatatat 5y ago
> all those involved Never.
thefounder 5y ago
so many FBI inquiries started from the GME fiasco, right?
- throwaway_kufu 5y ago
  You seem to be sarcastic but in fact yes the Robinhood/GameStop BS resulted in both a congressional probe and it skipped the FBI and went straight to the prosecutors at the Department of Justice.
  - thefounder 5y ago
    Looks like very serious stuff happened indeed. I'm not sure about why I forgot about the congressional probe. Perhaps it's because for the people who lost or made money out of this nothing changed. It's good to know that when bad stuffs happens on regulated markets there will be a congressional probe while on the crypto market you have no prime BS on tv.
  - onemoresoop 5y ago
    And it's not only Robinhood. Citadel, the market maker seems to be the brain behind all this price manipulation and media attacks on AMC and GME and selling a whole lot of synthetic shares on the market which when retail investors buy do not affect the price. I've been following this saga closely and am beyond horrified of how corrupt our free market is. It is not free at all and heavily manipulated.
AlexandrB 5y ago

uberdru 5y ago

True. The whole run up in crypto has been so closely tied to Goldman backing Coinbase's IPO that it's laughable.

thefounder 5y ago

>> Except Crypto isn’t regulated like stocks, Except that most of the time that means nothing in practice. Just look at the GME saga and you have customers liquidated, customers not being able to buy, some not even able to sell. And on top of that the CEO of Interactive Brokers setting a target price for the stock. All this so that few highly leveraged hedge funds can get away from the short squeeze cheaper along with their lender/broker.

throwaway_kufu 5y ago
Except it doesn’t mean nothing because there are a bunch of lawsuits against Robinhood, because the law provides a remedy for the bullshit they pulled.
- thefounder 5y ago
  Right! Let me know when they get their money back. I thought that when bad stuff happens on regulated markets at this level(i.e congresional probe etc) the DA, SEC, FCA or whatever agency is in charge is supposed to intervene and make it right. And btw it wasn't just RobinHood. At some point all the retail brokers(i.e Interactive Brokers) decided to hold various positions(buy/sell). People can sue coinbase and any other shady broker as well. If you've lost 10K I doubt you are willing to spend even more to get it back in court be it coinbase, RobinHood or any other exchanger/broker with an army of lawyers.
  - throwaway_kufu 5y ago
    Look I’m as jaded as the rest, like everyone. I’ve seen mass manipulation to promote bullshit wars. I graduated in 2008 and I am still told to shut up and say thank you to the banks for paying back taxpayer loans with interest that bailed them out of their own fraud and let them consolidate the market. I saw the CDC initially lie about masks to allegedly preserve supplies for healthcare providers. I saw the government take trillions in future taxes and mostly give it to businesses and for the FED to leverage into even more money to prop up the stock market (hey, all time highs again mid pandemic). Still, for all the BS lawyers get, much of it deserving, for every lawyer behind the brokers/investors/funds there are others representing the victims. These are the types of lawsuits that include egos so big that sometimes discovery of emails/communications and the prospects of sitting for depositions result in a resolution, and even change. It’s funny you mention the army of lawyers, because many of these cases have been consolidated and one 1 Zoom hearing were 141 lawyers…they represented the plaintiffs.