Recession Cancelled: Crypto Summer Is Here | Weekly Round-up
Supply Shock
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The Role of State and National Regulators in Clashing Down on BlockFi
BlockFi was on their way to becoming the new JP Morgan. People were moving money out of fiat in a zerp world, moving it in digital assets and getting paid interest. So what happened when they took a billion dollars out of the banking system? Who cares? You take a hundred billion across Voyager, Celsius, BlockFi. Now we got a fucking problem. And what happened? Huh, the regulators show up. Huh, what are you guys doing? We don't really like what do you, you violated the law. What law? That's not important. You violated the law."
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