NFT News by Thebittimes.Com

Exploring the conflict between the SEC and major cryptocurrency corporations and the fight for investor protection in digital currency markets. Bitcoin, Coinbase, Binance and more are all fighting for their lives as the United States Securities and Exchange Commission does everything in its power to eradicate the current cryptocurrency system in the United States and replace it with one it deems more “fair” to the American public. Since its start in 2009, cryptocurrency, or digital currency, has taken the world by storm and caught the attention of millions of investors who have an interest in digitizing their assets. At first glance, this seems convenient to many, but as SEC chairman Gary Gensler has been arguing, the system is so deeply flawed that the American public doesn’t even realize the risks it is taking. This argument is not to say that the burden of responsibility is largely on the public and their ability to understand and invest their money wisely, but more so to point ou...

Ultra-wealthy former Coinbase exec Balaji Srinivasan keeps single-handedly betting on inflation winning — and in doing so, makes losing look easy. While the Federal Reserve, Treasury, and Congress do everything in their power to fight inflation , Srinivasan made one of the worst public-facing financial bets in history. He proposed in April that inflation would be so bad that Bitcoin would surpass a value of $1,000,000 a coin within three months. Srinivasan gave up prematurely and paid up 47 days later — 44 days before he had to. Of course, he still claimed a moral victory. The former Coinbase exec released a video stating, “I burned a million to tell you they’re printing trillions.” Now, a platform that offers “a new inflation truth-set to provide reliable financial data for better decision-making” is reporting lower inflation than the official numbers coming from the US Bureau of Labor Statistics. Balaji Srinivasan wanted “real inflation numbers” but not like this ...