Furious Burns

Prior administration's SEC (both under Biden and under Trump before) destroyed tens (arguably hundreds) of billions of dollars in value, punishing consenting adults for making their own financial decisions, in what is allegedly a free country that allegedly permits and encourages entrepreneurship, risk taking, and individual responsibility. The consequence of Gensler's SEC was, most obviously, a substantial reduction in entrepreneurs' willingness to attempt token designs of authentic utility. The flourishing of utility tokens post EVM (2016-2018) came to an end under fear of persecution. In its place, an era of memecoins and even greater scams that went entirely unprosecuted until post-collapse, like FTX. "If you try to build something of utility, we will ruin your life. If you make dog meme, no prob. If you steal $10b in customer money outright, we'll ask you for input on upcoming bills in DC so long as you donate some of it to our campaigns." The current SEC is materially better. Today's guidance is good, not because it is "clear" (ambiguous liberty is superior to clearly defined oppression), but because it recognizes limits on its own power; because the scope of tyranny over an allegedly free people is lessened. Importantly, what's new here is correct exclusions from security-definition of both "Digital Collectibles" and "Digital Tools". The latter aka utility tokens, so often persecuted under Gensler's regime. Digital Collectibles and Digital Tools are each massive categories. Huge, open territory for innovators to once again explore. To the current SEC, thank you for improving toward the ideals of what makes America good. I encourage anyone who was persecuted by the prior agency to post anything you feel comfortable sharing in the comments.

Nike not having team USA jerseys right now is one of the biggest merch fumbles in sports history. Arguably the most sought after jersey in the world is nowhere to be found over a week after the gold medal game.

In 2015, Bernie Sanders argued that open borders was a right-wing idea and warned that unchecked immigration could negatively impact American workers.

The State of California has been run top to bottom by one party since 2011. Here are their results: 1) highest state income tax 2) highest rate of poverty 3) highest rate of unemployment 4) highest rate of homelessness 5) highest energy costs Hard to explain this away.

CEO of World Economic Forum resigns. You’re welcome.

Remember this gem from Ben Stein?

@stoolpresidente American tears of joy and pride!

Or here is a thought. Be better at 3 on 3 hockey. Or score on 5-3. Or don’t miss a wide open net. Lots of crying coming out of Canada’s locker room. You hate to see it.

@ryanwhitney6 Pure joy and American pride!

Do it for Hellebuyck. No other words. Greatest goaltending performance these eyes have ever seen. Please one time please I’m begging 🇺🇸

An entire nation cheered together this morning. It didn’t matter what race, religion, or region you’re from. We all felt a part of something special. This is the epitome of why we love sports.

Debate it all you want, but that 5-on-3 kill in the gold medal game proved the U.S. correct for having Vincent Trocheck and J.T. Miller on this team. The U.S. is 17-for-17 on the PK in the tournament and those two are a huge part of it.

No pardon for SBF. Retweet if you agree.

@IncomeSharks More rinsing is necessary. Unfortunately.

These are the exact conditions of where crypto should be thriving. Still optimistic we can go back to being a serious space. Hopefully everyone is done with all the garbage narratives, ponzis, scams, and grifts and we can at least go back to pretending we care about the tech.

15 years ago the entire nation of Canada synced up there piss breaks during the gold medal game. This is what were up against folks we have to lock in Sunday

We've had to work through a lot of difficult issues in the debate over market structure in Congress (token classification, yield, shared agency authority). But we are now getting to the heart of the matter in the Senate: Whether Americans will be allowed to build and use permissionless private infrastructure in the US free from unwarranted prosecution (protected by the BRCA provisions in Clarity) or whether "national security interests" and "ease of prosecution" will trump those rights and protections. Another way to put this: Do you want the underlying pipes for all financial transactions to look like they have for decades: wholly owned and controlled by large banking interests and freely surveilled without warrants or reasonable suspeicion by corporations and the government? Or do you think that money and assets should travel safely and privately on free and open infrastructure that's built and maintained by the people for the people? Watch carefully who comes out on which side. Do you want some Republican to instantly know that you paid for an abortion? Do you want some Democrat to instantly know you bought a gun? Do you want either to be able to freely and arbitrarily cut you off from the global economic rails without trial or oversight? Or do you still believe in American values: privacy, liberty, and the rule of law?

Banks earn ~5.7% risk-free at the Fed. They pay you ~0.1–0.5% on savings. That spread is policy-enabled. The yield goes to banks, not you. Since 2008, banks have been paid trillions in interest on reserves—funds that otherwise could have reduced the federal deficit. Now those same banks are trying to kill the market structure bill so crypto companies can’t pay you interest on stablecoins. This isn’t about safety. It’s about preserving a monopoly on yield. Voters will remember the politicians who chose bank profits over your right to earn.

The left has become the party of institutions. It doesn't matter if its large universities, the fortune 500, banks, big pharma, or big tech. Thus crypto is fundamentally incompatible with their worldview. They can't build in permanent monopolies for their donors.

You will enter the world of trading in pursuit of money. However, if you persevere, you will gain something much more valuable: – Discipline – Confidence – Self-awareness The profits will come, but the real transformation will be within you.

If you're still in crypto today, congrats. It wasn't luck that brought you here. It was mental illness.