Bridger PenningtonFund Launch & Investment Expert

SEC Sues COINBASE

6 Jun 2023 · 1 min

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0:38

The SEC sued Coinbase and Binance. The speaker connects these lawsuits to earlier crypto-bank failures and the government's swift takeovers, then explains how FedNow, a new instant-payments system between banks, could lead to a government-backed digital currency.

Chapters

What is the SEC doing? What do you guys think? Are they trying to just kill crypto, or are they doing something else? As you may have seen, they went after Coinbase this morning. Additionally, they went after Binance just a few days ago. All 3 of these crypto banks failed earlier this year and got taken over by the government very quickly as they launch and announce the FedNow protocol. If you guys don't know what this is, the Fed announced this in March during all the bank crises. They are going to allow essentially Venmo transactions between large banks. You can send wires instantly. It's essentially what blockchain— a lot of people think this is the first step in the move to a central bank digital currency to a blockchain. They finished a 12-week— I don't know, what do you guys think down in the comments?