I guess it means I don't have to close out my short-PUT on Coinbase any time soon. And Chanos is having second thoughts on his straight-up short position.
Even though I'm a big crypto fan, it seems to me that the SEC is fighting a losing battle. They already made plenty of mistakes, and one of them in being too aggressive with the crypto market. Now, with many polititians jumping on the crypto bandwagon, the SEC is making a lot of enemies. Even congress is joining the crypto market and willing to provide clarity that was supposed to be the SEC's job. Even Judge Torres who is the judge for the Coinbase, Binance, and Ripple cases, is in agreement that the SEC is abusing their power. One thing is for certain. And that's Gary Gensler is a big idiot. I'm 99 percent certain that this is going to play in favor of the crypto market
Economy is grown by encourage value addition in manufacturing and services,, how allowing thinly - un regulated Crypto is going to increase the economy !
It was very difficult to understand what you just wrote. Sounds like the last sentence was meant to be a question? How is crypto going to increase the economy? Well what do you think happens when people profit? Come on now, your mamma didn't raise a fool...
First of all you don't have to use abusive language... when people profit? you say .. yes true but by value added industry like exporting more goods and services...
Since hard money (like bitcoin) is characterized by low inflation, it results in a lower time preference of money because you don't worry about your money losing buying power. A lower time preference encourages patient capital investment that drives greater economic growth.