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And BTCUSD down sharply on the news... The crypto winter will be a long one. Link is broken. Here's the SEC press release: https://www.sec.gov/news/press-relea

by anonu 3y ago

And BTCUSD down sharply on the news... The crypto winter will be a long one. Link is broken. Here's the SEC press release: https://www.sec.gov/news/press-release/2023-101 https://www.sec.gov/news/press-release/2023-101 And the full 136 page complaint: https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-101.pdf https://www.sec.gov/files/litigation/complaints/2023/comp-pr...

boring_twenties 3y ago
It's down ~2.5% to a level last seen ... a week ago. That is not "sharply" by any stretch of the imagination.
- anonu 3y ago
  "Sharply" is anchored on where the price was just before announcement. Not where it was a week ago... Price moved on the news...
  - boring_twenties 3y ago
    The price regularly moves more than 2.5% on no news at all. This move isn't sharp, it's negligible.
  - EscapeFromNY 3y ago
    For anyone coming across this later, here's what happened a day after BTCUSD moved "down sharply": https://i.imgur.com/GSFU7Mu.png https://i.imgur.com/GSFU7Mu.png Just your average market fluctuation, or at worst an overreaction and immediate correction. It's best not to try to predict long term market cycles from the 1h candles.
- deleted 3y ago
  [deleted]
monero-xmr 3y ago
This is good for bitcoin. CZ, Justin Sun, and all the scammers need to be in prison.
- lvass 3y ago
  What scam are you referring to?
  - monero-xmr 3y ago
    Comingling customer funds with their own personal and corporate funds to use for their own gain
    - vkou 3y ago
      Note: Even when nothing bad actually happened, this exposes customer funds to risk. It's fraudulent for me to promise to store your car in a garage, but then take it on a 140 mph joyride down the freeway.
      - monero-xmr 3y ago
        Even if they didn't literally use customer funds to buy yachts and mansions, I have heard about pledging customer funds as collateral or using them for an acquisition which is then paid back using funds and revenue of the acquired company. It's sketchy shit that is not allowed in the regulated world that crypto companies have played loose with. Very dangerous.
- gunshai 3y ago
  Seems strange to say Justin Sun an CZ are even close to one another in terms of impropriety. Justin Sun is a snake oil salesman, CZ potentially broke the law while running a legitimate service. One that worked and was actually quite successful.
  - JumpCrisscross 3y ago
    > CZ potentially broke the law while running a legitimate service Intentionally broke the law, according to his own statements. Also, co-mingled personal and client assets like Bankman-Fried.

by anonu 3y ago

boring_twenties 3y ago

It's down ~2.5% to a level last seen ... a week ago. That is not "sharply" by any stretch of the imagination.

anonu 3y ago
"Sharply" is anchored on where the price was just before announcement. Not where it was a week ago... Price moved on the news...
- boring_twenties 3y ago
  The price regularly moves more than 2.5% on no news at all. This move isn't sharp, it's negligible.
- EscapeFromNY 3y ago
  For anyone coming across this later, here's what happened a day after BTCUSD moved "down sharply": https://i.imgur.com/GSFU7Mu.png https://i.imgur.com/GSFU7Mu.png Just your average market fluctuation, or at worst an overreaction and immediate correction. It's best not to try to predict long term market cycles from the 1h candles.
deleted 3y ago
[deleted]

monero-xmr 3y ago

This is good for bitcoin. CZ, Justin Sun, and all the scammers need to be in prison.

lvass 3y ago
What scam are you referring to?
- monero-xmr 3y ago
  Comingling customer funds with their own personal and corporate funds to use for their own gain
  - vkou 3y ago
    Note: Even when nothing bad actually happened, this exposes customer funds to risk. It's fraudulent for me to promise to store your car in a garage, but then take it on a 140 mph joyride down the freeway.
    - monero-xmr 3y ago
      Even if they didn't literally use customer funds to buy yachts and mansions, I have heard about pledging customer funds as collateral or using them for an acquisition which is then paid back using funds and revenue of the acquired company. It's sketchy shit that is not allowed in the regulated world that crypto companies have played loose with. Very dangerous.
gunshai 3y ago
Seems strange to say Justin Sun an CZ are even close to one another in terms of impropriety. Justin Sun is a snake oil salesman, CZ potentially broke the law while running a legitimate service. One that worked and was actually quite successful.
- JumpCrisscross 3y ago
  > CZ potentially broke the law while running a legitimate service Intentionally broke the law, according to his own statements. Also, co-mingled personal and client assets like Bankman-Fried.