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VOICE ARCHIVE

Tim Swanson

@ofnumbers
8 posts
2024-07-18
Really salient point from Vitalik wherein he explains the affinity fraud that could (will!) occur wrt superficially ‘crypto friendly’ politico's. [image]
2024-07-18 View on X
Vitalik Buterin

People in crypto should not choose political allegiances based on who claims to be “pro-crypto”, as such politicians might go against crypto's underlying goals

Over the last couple of years, “crypto” has become an increasingly important topic in political policy …

2023-07-21
It's kind of funny seeing the conspiratorial responses. Some Bitcoiners should just google RTP. Central banks in a few dozen countries have rolled out Real-Time Payments (RTP) systems. FedNow, a new RTP, is a socially useful public utility that will lower costs and reduce time.
2023-07-21 View on X
Reuters

The US Federal Reserve launches FedNow, its long-awaited real-time payments system that will eventually let individuals and businesses transfer money in seconds

JPMorgan, Wells Fargo, and 33 Banks Onboard Emma Roth / The Verge : The Federal Reserve's 24/7 payment system could deposit your paycheck instantly Paul Hill / Neowin : FedNow Serv...

2023-01-04
Update one year later: https://twitter.com/...
2023-01-04 View on X
Wall Street Journal

The US Federal Reserve, FDIC, and OCC warn banks that issuing or holding crypto “is highly likely to be inconsistent with safe and sound banking practices”

Regulators say holding cryptocurrencies is likely inconsistent with safe banking practices  —  Crypto's Crash Has Been Swift but Largely Self-Contained.

2021-08-20
fantastic article covering the fraud-filled coin world. a similar level of craziness likely occurs with many coins, we just don't have enough gumshoes like @morgenpeck to critically investigate all of the outrageous claims. below are a few choice passages that stood out. https://twitter.com/...
2021-08-20 View on X
New Yorker

A look at the rise and fall of Skycoin, a cryptocurrency that had a ~$5B total value in 2018, ran a team of social media “shills”, and was plagued by scandals

The cryptocurrency promised to change the world and make its users rich in the process.  Then it began to fall apart. Tweets: @ofnumbers , @michaelluo , and @hkanji Tweets: Tim Swa...

2020-12-03
don't mess with the gov'ts unit-of-account: “Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk.” https://twitter.com/...
2020-12-03 View on X
CoinDesk

Three Democratic lawmakers introduce a bill that would require stablecoin issuers to obtain a banking charter, approval from the Federal Reserve and FDIC, more

A new U.S. Congressional bill would require stablecoin issuers to secure bank charters and secure regulatory approval prior to circulating any stablecoins.

2019-10-01
Step 1: create year long ICO fund raise Step 2: advertise ICO with a billboard in Times Square Step 3: raise ~$4 billion, from retail investors globally Step 4: deny that the ICO was an unregistered securities offering Step 5: get listed Step 6: get sued by SEC, settle for $24m https://twitter.com/...
2019-10-01 View on X
CoinDesk

Block.one settles with the SEC for $24M in penalties for conducting an unregistered securities sale; Block.one had raised ~$4.1B via ICO over a one-year period

EOS maker Block.One must pay $24 million in penalties for conducting an unregistered securities sale, the U.S. Securities and Exchange Commission …

2018-02-11
so a bunch of Nano coin owners (formerly RaiBlocks / XRB) stored their coins over at BitGrail exchange, and just lost ~17 million XRB due to a “hack.” This is worth between $175 - $200 million. Nano statement: http://medium.com/... Exchange: http://bitgrail.com/news
2018-02-11 View on X
Wall Street Journal

Italian cryptocurrency exchange BitGrail says it lost 17M tokens of Nano/XRB cryptocurrency, worth about $170M, suspends withdrawals for all cryptocurrencies

BitGrail says it lost about 17 million tokens of Nano  —  An Italian cryptocurrency exchange called BitGrail said on Friday …

2018-01-27
If this is a real hack Coincheck should just give all customers an X% haircut, self-issue debt tokens, and then list the debt token on their exchange. Just like another exchange that rhymes with “ribfinex.” Or fork NEM into NEM Classic. Either way, more coins for everyone. http://twitter.com/...
2018-01-27 View on X
Bloomberg

Japanese cryptocurrency exchange Coincheck says that 500M NEM cryptocurrency tokens, worth ~$400M, have been “illicitly” transferred out of the exchange

Coincheck Inc., one of Japan's biggest digital exchanges, said that about $400 million of the NEM cryptocurrency was lost after it was sent …