Bitcoin Bandits, FTX Red Herring & Malfeasant Bureaucrats + Abe Lincoln & Arthur Finkelstein
In the following essay, I ramble about the overall crypto ecosystem and explain why I view the FTX collapse as a red herring (meant to misdirect from other relevant or important queries). I touched on the red herring “hearing” about FTX (which was loaded with doublespeak). Next I discuss Ukraine and Digital Currency Group “commingling” with FTX. I also explain the SEC’s hand in approving Proshares Bitcoin Futures ETFs—which permitted shorting of bitcoin through traditional avenues (there’s a Goldman Sachs connection, too). Some words on the Cato Institute document about “bundling and unbundling banking services”—plus, a little history about the OCC aka Office of Comptroller of Currency (established by Abe Lincoln in 1863). I shall conclude this essay with a few words on Arthur Finkelstein (a man who advised leaders like Bibi Netanyahu, Richard Nixon, and Hungary’s Viktor Orbán)—the Finkelstein motto: if you want success in politics, avoid answering questions about ethics.