fable

Remember when the last bull market was going on—everyone’s attitude toward regulation was basically: the more they control, the more the coin falls. But it seems like things are different now. Regulation is changing, and the market’s understanding of regulation is changing too.
The most explosive regulatory news today is that Fable 5 has returned. If you don’t know who Fable 5 is, in simple terms, it’s a trader/player with a pretty well-known reputation in the circle. After being suspended for a long time, they’re finally back. But after returning, Fable is no longer the same Fable as before—now they’re restricted as a caged bird by regulatory controls, with all kinds of rules and constraints, and they can’t operate as freely as they used to.