Authors Andy Hoffman
7 days
30 days
All time
Recent
Popular
1) OK, so let's forensically discuss last night's tweet by Brian
2) At 7:40pm EST, just after U.S. traders left for the most heavily observed and longest holiday weekend of the year; with all of Europe, and 90%+ of Asia asleep; the CEO of the world's largest crypto exchange decides to make a nearly unprecedented, massively market moving Tweet.
3) Without a doubt, he knew the entire crypto market would dramatically collapse on such "news," despite it being nothing more than, self-admittedly, "rumors." In other words, decimating the accounts of thousands of Coinbase clients.
4) Moreover, with the banks closed for Thanksgiving, and most people not working Friday, he had to know limited fiat could be deposited to exchanges for the next four days, making it difficult for client accounts to recover such losses.
5) The tweet itself simply claims "Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term..."
Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I'm concerned that this would have unintended side effects, and wanted to share those concerns.
— Brian Armstrong (@brian_armstrong) November 25, 2020
2) At 7:40pm EST, just after U.S. traders left for the most heavily observed and longest holiday weekend of the year; with all of Europe, and 90%+ of Asia asleep; the CEO of the world's largest crypto exchange decides to make a nearly unprecedented, massively market moving Tweet.
3) Without a doubt, he knew the entire crypto market would dramatically collapse on such "news," despite it being nothing more than, self-admittedly, "rumors." In other words, decimating the accounts of thousands of Coinbase clients.
4) Moreover, with the banks closed for Thanksgiving, and most people not working Friday, he had to know limited fiat could be deposited to exchanges for the next four days, making it difficult for client accounts to recover such losses.
5) The tweet itself simply claims "Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term..."