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As the news from this week continues to demonstrate, the crypto industry is under a full frontal attack from multiple government agencies in the United States. They apparently want to stifle economic growth, innovation, and freedom as much as possible and send the entire US crypto industry overseas. Trump has come out as the pro crypto candidate in the presidential race, I guess he had a change of heart after he realized that he could make money off of NFTs. I don't like Trump and I don't like Biden, actually I despise both of them for being the geriatric authoritarians that they are, so I am either going to vote libertarian or not at all. But I am relieved that at least one of the major party candidates isn't completely anti crypto.
SEC serves Robinhood Wells Notice
More retardio bullshit has arrived from the most retarded retardios of them all, Gensler and crew at the SEC. This is even more fucked when you consider how Robinhood has been so conservative with their crypto listings (and delistings). For example they delisted Solana when the SEC accused it of being a security and they have very few coins actually available for trading. They are going after innovative tech companies right when the economy needs them the most. The SEC does not give a fuck about protecting you from anything and they never will, they only care about growing the power and budget of their own organization and ensuring their pensions are fat. I heard some crypto talking head lament about how the SEC was de-legitimatizing itself with these ridiculous enforcement actions, and they thought that sucked because we need the SEC to protect us from real scams. I disagree, I have never needed the SEC to protect me from anything as I can harness the incredible power of my mind combined with the internet and decide for myself with a high degree of accuracy whether something is a scam or not. It's not like if the SEC didn't exist you would lose the ability to sue the pants off someone for offering a scam investment. Did fining the shit out of EOS for it's 2017 ICO prevent any EOS investors from losing money from that shitcoin? Did fining Kraken do anyone any good? Did the SEC prevent FTX or Celsius? No they didn't because the SEC is a worthless organization run by an absolute piece of shit. He uses tax money that the group of gang members who refer to themselves as our "Government" extorted from you under threat of imprisonment to do his absolute best to prevent growth and innovation.
Local Monero has thrown in the towel, I knew this was coming evetually after Local Bitcoins shut down. You can't really blame them considering the environment we are in right now, nobody wants to go to prison. The average person is not aware that our very ability to trade with each other on a P2P basis is being attacked by the government. Can you imagine if Craigslist shut down because the founders didn't want to go to prison? There would be a nationwide uproar, hopefully. Maybe not Craigslist, I am dating myself a bit, but perhaps Facebook Marketplace, or Offerup, or whatever the fuck the kids are P2P trading on these days. Buying and selling pieces of digital code among ourselves should never be a fucking issue. The options for trading in and out of monero, bitcoin, and other crypto currencies without KYCing are rapidly dwindling which scares the shit out of me because I refuse to KYC, I never have KYCed and I hope I never will have to just to use my fucking crypto. What I wonder is if they do make monero de facto illegal, who is going to take that shit to court? Who is going to sue for the right to use monero and who is going to fund that battle? Take that shit to the goddamn Supreme Court and let's see if at least 5 of the 9 high priests give a shit about our freedom or if they are just LARPers. This is an existential threat to crypto's real mission, which is not "number go up", but a P2P financial system outside of state control. Buy your crypto from plebs whenever you can, sell your goods and services for crypto whenever you can, we have to create or strengthen existing circular economies among ourselves, especially in our local communities, and we have to do it NOW.
Grayscale Withdraws It's Ethereum Futures ETF Application
Why does anyone have to apply to the fucking SEC to create an investment product anyways? I don't know about you but I don't need the Government to approve something before I choose to invest in it, we can DYOR thanks though. Plus if they are so worried about protecting investors they wouldn't of approved a million different leveraged long/short futures products that decay rapidly. (UVXY anyone?)
Kraken Asks Court To Dismiss SEC Claims
Kraken, who literally already paid a hefty fine to the SEC for, God forbid, offering staking services to it's users so that their assets on the exchange aren't just sitting around doing jack shit. Gary Gensler fucking hates when you earn yield, unless it's treasury bonds, that's ok because the government understands the yield in that situation helps make up for the moral guilt you feel when you loan money to a government that uses that then uses that money to kill and imprison people at home and abroad. Kraken paid that staking fine, only to be sued by the SEC again just months later. So they are asking the judge to dismiss the case to avoid "significant reordering" of the U.S. financial regulatory structure". Basically Kraken is like, "Yo Mr.Judge, you gotta stop this shit before the SEC is in charge of every type of asset imaginable including my kid's Pokemon cards". We will see what happens, although we are probably fucked because the Judge is employed by the same government who is suing Kraken.....so its kinda like letting the home team use a player as the referee. Actually that's exactly what it's like. Judges are so drunk on their own power and sometimes drunk on liquor as well, that they are no longer even capable of presiding over anything even resembling a fair trial. When a fair trial does happen, it's usually by accident, or maybe their guilty conscience from all the unfair trials they have enabled sometimes becomes so overwhelming that they say fuck it and rule in the favor of justice every once in a while.
Biden Will Veto Bank Crypto Custody Resolution
Biden says he will veto a resolution that would allow banks to custody crypto. Personally I wouldn't let a bank custody my crypto but if someone wants that service I see no reason why the Government currently has the ability to prevent it. I'd imagine Biden is going to veto any even vaguely pro crypto legislation because his handlers hate crypto. Maybe if we include 100 billion for gender studies and misinformation control measures it might pass, just bury the pro crypto shit on page 456, nobody reads that shit anyways.
One Third of Stanford Students Ok With Violence to Stop Speech
This is about as terrifying as the other recent survey that said 29% percent of young people would be ok with the government putting a camera inside their house to prevent crime. What in the fuck! You think having a goddamn CAMERA WATCHING YOU IN YOUR OWN HOME is ok? I don't know about you but I believe in every American's God given right to commit multiple felonies in their bedrooms or living rooms without someone watching, and I certainly believe in the right to free speech without having to worry about getting attacked violently. THEY ARE WORDS, THEY CAN'T HURT YOU, VIOLENCE CAN HURT YOU. What fucking universe do these people live in where they think it's ok to use violence for any fucking reason other than defending yourself or others? Someone pissing you off with words is not ever an excuse for violence, you can fight words with other words. You are supposed to learn that in school or something, but kids probably don't learn any lessons about violence because they aren't given a chance to. As soon as they get in their first fight we expel them immediately and throw them in Juve to learn how to commit violence more effectively from a bunch of raging hormone delinquents. We have to a better job educating young people about liberty and basic morality or we are so fucked, these young people will be in charge one day, that is if they don't get too anxious over pronouns or scary guest speakers or God knows what and drop out.
Supreme Court Rules No Due Process Right To Preliminary Hearings in Civil Asset Forfeiture Cases
The high priests and priestesses of the Supreme Court just strengthened the government's ability to seize your property for any reason without a warrant or even evidence of an actual crime. Good job you fucking tyrants, I hope your luxury cars get seized for a bit of spilled laundry soap and a faulty field drug test kit and you have to take the bus to work at the high temple of the Supreme Court like a commoner for months and months while District of Colombia Versus 2022 Escalade or whatever the fuck you pieces of shit drive plays out in court.
A couple good things did happen this last week, not all is misery and despair!
Zeus Lightning Wallet Founder Refuses to Shut Down For American Users
Evan Kaloudis, the US-based founder of ZEUS, absolute Chad and possessor of giant balls of steel, has decided to take a stand for freedom and refuses to shut down services for US customers, unlike Phoenix wallet and Wallet of Satoshi. Thank god somebody is taking a stand, we need to support this man and open source freedom tech devs everywhere. We have to do everything we can to counteract the chilling effect caused by the arrest of the Samourai devs. I mean being an open source developer already sucked before they started arresting them, you work long hours, have to rely on the occasional donation to reimburse you for your hard work, and when you do try to make a little money off of your labor you get accused of facilitating money laundering. Anybody who continues to develop open source crypto privacy tech under these kind of circumstances deserves our support at the very least, in reality they deserve a fucking medal and a healthy stipend. What open source privacy software do you use? Have you ever donated to the devs? Today is a good day to start. A few bucks from even a few thousand people can make a huge difference in the lifes of these devs.
More good news, a Tennessee appeals court ruled that feds can't sneak onto your land and set up cameras illegally, regardless of whether you have developed that land or not. If it's private property, stay the fuck off of it, real simple concept that apparently these feds don't understand. It should of never required a fucking court ruling to get them to stop this bullshit. Then again Feds don't understand much about property rights or any rights for that matter, I mean they literally spend all their time violating them.
Thanks for reading, that was not an exhaustive list of everything that happened last week, but it's a good sampling at least. It's time to turn off the Netflix and pay attention for a little bit because they are trying to destroy us and what is left of our freedoms. This is no longer a hypothetical future scenario, the state's attack on the Bitcoin network and cryptocurrency in general is happening right fucking now. If you are one of the 5 people who will read this, please subscribe and comment if you liked this little round up and I'll do another one next week.
