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If you havent bought or sold any cryptocurrency then you likely dont know that long and shorts are available on many platforms on coins. The Commodity Futures Trading Commission Thursday bought a suit against the crypto company owned by the billionaire Winklevoss brothers, saying it misled regulators as an effort to gain approval for bitcoin futures in 2017.

What I find interesting about this suit allegations is a few things.

• They brought it almost 5 years later
• They approved the platform for doing what they are doing with trading
• They didnt understand the mechanics of what they were approving
• They thought all trades were pre funded but found later they werent as Gemini allowed borrow
• Traders were able to trade with themselves to manipulate the market price

With all of the talk of tracking capabilities of on chain transactions when you have centralized wallets that hold all trades its easy to see how even regulators cant track trades.

Here is the original announcement where Gemini confirms they are regulated via CFTC

https://www.gemini.com/blog/cboe-and-gemini-to-launch-first-ever-bitcoin-futures-contract-ticker-xbt

This along with any post that I post is not financial advise, I am not a financial advisor. I enjoy the Shark Tank show and Mr. Wonderful isnt my favorite person on there its Barbra Corcoran, I dont always like how Realtors are represented on tv but thats for another post.

Mr. O'leary I do listen to what he would have to say on residuals and he says a few times a season how he made his money from selling a toy company he likes his royalty payments  and licensing. He this week came out and said he cant call a bottom to the crypto market but its healthy for the alt coins which means small cap in stock terms to go through clearing out to the bottom to come out with only strong coins.

He also shared the point of view with bitcoin maxi also known as maximalist they call him Michael Saylor who has called for regulations of coins.  I have thought the decentralization promise and originals would not want to see a centralized bank/ also known as centralization since bitcoin was based on a written whitepaper from an unknown person called Nakamoto.

The promise was just shown in Ukraine the power of crypto being sent to get around banks that were central and have funds arrive automatic direct to their crypto department of finance. Those that didnt agree with the invasion could help support the military. There is of course the flip side that there is the possibility of funds going around money launder measures and know your cusomters with mixers and the black pools and market for criminal activity that I think most associate with the starting of crypto with silk road. The crypto market has come a long way I feel with coin rating tools, coin exchanges contract bug reviews, defi safety outlets such as blockchain scanner tools and auditors of smart contracts for nft projects and coins.

If you at all follow business news CNBC they have crypto shows as does Bloomberg. You will have heard of the 30 billion loss of Terracoin holders. This is  different than trading on a dex meaning decentralized exchanged that gets hacked and loses coins.

This last month that triggered the decline in coin prices as this was advertised as a stable coin with close to 20% returns. That was followed this week with multiple billion dollar older existing crypto wallet companies with millions of customers that they promised staking which is like getting dividends for your coins they are now putting a freeze on funds similar to Robinhood which I was against as that was anti free markets to stop trading with both companies including the one I have funds with Celsius.

They promise a hodl mode which locked your coins with multiple layers of password and 2 factor authentication which was what drew me in addition to a bonus offer of bitcoin small amount with locking of coins I had already on hand called matic/polygon along with it being a older wallet and US company that had under management billions.

If you were wondering about what an nft was I have started the group for you.

If you wanted to find out where to buy one. If you wanted to find out research tools to know how many have minted in the last hour, also what minting is.

If you wanted to know all time sales for a project, daily sales and volume tracking follow along with the group.

If you wanted to know of other markets not just the largest opensea check it out.

The crypto market is in a bear market along with nft projects so this could be a good time to take a look and get started in the metaverse virtual land and building.

https://activerain.com/groups/NFT