Who is making money in the currency circle game?
This June can be described as a fight between gods and mortals! Brother Chong will spend an hour today to tell you about the chess game that the US sec has joined forces with Fidelity, the world's top asset management company, and Wall Street giants such as Schwab, Paradigm, Sequoia Capital and Virtu Financial!
We are all pawns in a chess game, who is the one playing the chess game?
First of all, there was gossip at the end of May! Binance is in trouble! At that time, many people thought it was groundless and didn’t pay much attention to it! Then a piece of golden news came out in early June! It indicates that a big event will happen in the currency circle!
Richard Teng will take over as CEO of Binance! Changpeng must have received the news that the SEC is going to take action, otherwise he would not have chosen to resign and move behind the scenes at this time! After all, is Huobi still Huobi without Li Lin? Is Binance still Binance without Changpeng? Is Dogecoin still DOGE without Musk? ? ? ?
There is no such thing as a wall that is impenetrable. When the news of the resignation came out, many people began to speculate!
Is there something wrong with Binance?
Have you earned enough to retire?
Is Binance making a big move?
The market was already turbulent at this time! Then the market news began to ferment! The things about the SEC and Binance in the United States could no longer be hidden, and CZ was still refuting the rumors on Twitter! Classic FUD, classic 4!
The news came out in the early morning of the next day, and it was confirmed! Binance US was sued by the SEC! In the lawsuit against Binance, the SEC mentioned that the cryptocurrencies listed as securities include but are not limited to BNB, BUSD and the following various crypto assets: SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI. All of these mentioned coins were directly guillotined like a waterfall!
SEC strikes again! Following the lawsuit against Binance and its CEO CZ late last night, the U.S. Securities and Exchange Commission sued Coinbase again this evening for violating securities laws.
Coinbase was accused of providing trading, brokerage and clearing services for unregistered securities, and charging fees for pledge services. The SEC said that since at least 2019, Coinbase has provided illegal trading of cryptocurrency "securities" and handled billions of dollars; and allowed customers to receive rewards in securities products. (Chongge mentioned in his article on June 6 that the SEC just wants to get a piece of the pie in the cryptocurrency circle. It is a wolfish ambition and everyone should punish it!)
In response to the SEC lawsuit, Coinbase said that if necessary, they will take the legal battle with the SEC to the U.S. Supreme Court! This means that Coinbase is not afraid at all!
In fact, this is what the SEC had planned long ago! First, they muddy the waters of the entire market! They fish in troubled waters! Later, it was revealed that many people within the SEC shorted BNB and COINBASE stocks! And they profited from it!
In two separate lawsuits, the SEC defined a variety of cryptocurrencies as “unregistered securities,” including Binance-related tokens BNB and BUSD, as well as several popular currencies: SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO. (Please note that the list here will be explained again later!)
All the above 18 tokens have been removed from the shelves by US exchanges such as Binance US, Robinhood, and Coinbase! There is no way to change the situation! Binance US, which has been sued, is currently suspended. We can only wait and see how Binance and the SEC negotiate terms!
The market was already extremely panicked at this time, and then the market news started to stir up trouble again, such as Mentougou claiming compensation and the exchange market value team leaving the market! Bad news came out one after another, and retail investors were in a panic! Many retail investors threw out their chips and left the market at a loss! Then the capitalists began to buy chips at a low price!
When the market was in extreme panic, Binance stepped up and launched the 34th project Maverick Protocol (MAV) on Launchpool. You need to lock BNB and tusd to mine! This can be regarded as empowering BNB!
At this point, many people should have understood something. The bad news has been exhausted, and the chips have been sucked in! The SEC has achieved its goal, and then it began to show its sharp fangs! It began to show its wolfish ambitions!
EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity, Schwab and others, begins executing trades
In fact, it can be simply understood that when the SEC sued Binance and Coinbase, the Wall Street giants had already united and started to set up exchanges!
Recently, it has been reported that the US asset management giant Fidelity is also planning to launch a spot Bitcoin ETF or acquire GrayScale to actively enter the cryptocurrency field!
GBTC trading volume surged 400% after BlackRock applied for Bitcoin ETF!
Asset management companies WisdomTree and Invesco submit applications for spot Bitcoin ETFs again!
EDX, a non-custodial cryptocurrency exchange supported by Fidelity, a top global asset management company, and several Wall Street giants including Schwab, Paradigm, Sequoia Capital, and Virtu Financial, has officially launched. Currently, it supports transactions in BTC, ETH, LTC, and BCH.
The coins he supports are very interesting! I can understand Bitcoin and Ethereum! But LTC and BCH are very intriguing! It just so happens that the SEC just missed them when it sued. Is it a coincidence or a coincidence? You think about it carefully!
Let's briefly summarize June's story line:
SEC sues Binance and Coinbase Market falls!
Market makers withdraw and Binance is investigated by European and American countries (it is still being targeted by the SEC!) The market falls!
US domestic exchanges remove securities defined by the SEC as "unregistered securities" Market falls!
Binance US funds are frozen and trading is suspended! Market falls!
The purpose of each negative news is to absorb funds at a low price and suppress Binance and other exchanges. The purpose is also very obvious: FTX collapsed and a local exchange was supported! Then there is the story behind it!
EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity, Charles Schwab and others, begins executing trades Markets are rising!
GBTC trading volume surges 400% after BlackRock applies for Bitcoin ETF! Market up!
We are all chess pieces in a chess game, but who is the chess player? Do you know now?
Sanctioned Binance COINBASE, absorbed funds, and supported the local exchange EDX Markets! Do you want to know what the next step is? Follow Chongge and listen to his analysis!