A highlight from SEC GARY GENSLER WANTS TO BLOCK COINBASE IN CELSIUS NETWORK BANKRUPTCY RESOLUTION (CRYPTO NEWS)
Welcome back to the thinking crypto podcast your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review it supports the podcast and it doesn't cost you anything. Well, folks, I want to start off by talking about scumbag regulator, Gary Gensler and the SEC blocking Coinbase in their role in the Celsius network bankruptcy restructuring. This is big news, folks, because it once again shows that Gary Gensler does not care about retail investors or investors at large. He just cares about power and his next job. And the SEC has fallen far from their core mission of protecting investors. Let me give you the details. Here's the headline being reported. SEC raises concerns on Coinbase's role in the Celsius network bankruptcy restructuring. The Securities and Exchange Commission filed papers raising objections to crypto firm Celsius Networks plan to distribute digital assets to customers as part of a reorganization plan through Coinbase Celsius, which filed for bankruptcy more than a year ago, will seek bankruptcy court approval for its restructuring plan in the coming weeks. Under Celsius's proposed plan of reorganization, Coinbase will provide brokerage and master trading services to Celsius, engaging in activities that prompted litigation by the regulator, which is still ongoing, according to court papers filed by the SEC in the Celsius Chapter 11 case on Friday. The regulators sued Coinbase earlier this year, saying it operates an unregistered securities exchange. So once again, folks, we see that Gary Gensler doesn't care about you or other investors. This is about his power. We know he's unfairly going after Coinbase. The SEC greenlighted Coinbase to do an IPO review their business and much more now is trying to sue them for the same business activities that is asinine. But we know the goal, folks, what we've been talking about for a very long time is that Gary has been weaponized by the tradfi incumbents who want to stomp out crypto startups like Coinbase and others, right, kill them, kick them out, not kill crypto, but rather push these startups out so that his friends on Wall Street, BlackRock and JP Morgan and so forth can come in and take over. Because in parallel with the enforcement actions that Gary has been putting forth, we see BlackRock entering the market, right, Citadel, Charles Schwab and Fidelity launch a crypto exchange and many other big players getting involved. So how can these two things be happening in parallel, right? One hand, Gary is saying this entire market's full of hucksters, scammers, yada, yada, yet I see the biggest institutions in the world and from Wall Street launching crypto services and exchange services in custody and much more. It doesn't add up. So it's clear as day what's happening. And the fact that he's trying to block this, right, when it will help the Celsius investors to make them whole, it shows he doesn't care about the investors. He doesn't care. He just cares about his fake lawsuit here against Coinbase.