That’s not all. There may be some hiccups for the SEC:
She also expressed skepticism about the S.E.C.’s use of its enforcement powers to regulate the crypto world, calling it “inefficient and cumbersome.”
[The New York Times]
Whittaker is impressively direct — whether she’s talking about the AI hype cycle (with bonus warning letters!), Google’s history with ethics, and the UK’s online safety bill.
Isn’t this interesting, though:
You’ve threatened to pull Signal from the UK if the online safety bill currently making its way through parliament is passed.
I’ll repeat what I said, which wasn’t quite the headline. We will never undermine our privacy promises. We will never adulterate our encryption, we will never participate in any regime that would enforce breaking those promises.
Did you know: Kyle Davies and Su Zhu are surfing and painting still lifes? Also, apparently Davies is thinking about AI. If you are curious about what Davies and Zhu are up to now, the answer is: having a nice time.
If you are more interested in the details of the Three Arrows Capital business and bankruptcy, you might check out a YouTuber instead: Hugh Hendry, whose interviews of Davies get into the guts of the firm.
[The New York Times]
DEVITO: We deteriorate.
SCHWARZENEGGER: Except in some fantasy. When people talk about, “I will see them again in heaven,” it sounds so good, but the reality is that we won’t see each other again after we’re gone. That’s the sad part. I know people feel comfortable with death, but I don’t.
DEVITO: No.
“Liz, what does this have to do with tech?” Nothing, hope that helps.
[Interview Magazine]
Previously: “FTX is fine. Assets are fine.” - Sam Bankman-Fried. “All funds are safe.” - Alex Mashinsky, Stay SAFU out there!
The Bloomberg columnist, beloved by Verge staffers, has filed a banger, folks. He begins with a little victory lap and gets funnier from there:
“A decent rule of thumb,” I wrote in March, “is that all cryptocurrency exchanges are doing crimes, and if you’re lucky your exchange is doing only process crimes.”
[Bloomberg.com]
And I gotta say, the CFTC has the spicier quotes! Still, this was an enlightening read, in that the corporate shenanigans alleged here are yikes yikes yikes. Yikes!
BNB appears to be down about 10 percent on the news, as of this writing.
SOL, ADA, MATIC, FIL,ATOM, SAND, MANA, ALGO, AXS, and COTI
Yikesarooney. Binance is not the only exchange that lists many of these. Guess that’s a warning shot?
I was not entirely surprised to see BNB as an unregistered security — lots of reasons why! — but BUSD is theoretically at least a stablecoin. And yet:
From September 2019 through February 2023, Binance offered and sold BUSD to U.S. investors as part of a profit-earning scheme within the Binance ecosystem, touting returns for investors from simply buying BUSD or deploying it in Binance profit-generating programs.
Since its inception, BUSD has been offered and sold as an investment contract and, therefore, as a security.