We Study Billionaires - The Investor’s Podcast Network BTC135: Binance & Coinbase Vs the SEC w/ Joe Carlasare & Hodl (Bitcoin Podcast)
19 snips
Jun 21, 2023 
Joe Carlasare, an expert digital asset attorney, shares his insights on the ongoing legal battles involving Binance and Coinbase against the SEC, discussing the implications of user fund mishandling and potential TROs. American Hodl adds a unique perspective on the broader regulatory landscape and its effects on cryptocurrency operations. The conversation also digs into the Ripple lawsuit's possible impact on these exchanges and the ongoing scrutiny from regulators, highlighting the urgent need for clearer guidelines in the tumultuous crypto environment.
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Unprecedented Week in Crypto
- The past week has been the most consequential for crypto regulation in years, marked by lawsuits against Coinbase and Binance.
- These lawsuits, combined with regulatory actions and document dumps, create a turbulent landscape for the industry.
Predictable Enforcement
- The SEC's actions against Binance and Coinbase were predictable, given Gary Gensler's repeated warnings about unregistered securities offerings.
- Exchanges like Binance and Coinbase are easy targets for enforcement due to their role as bottlenecks in the crypto market.
Binance's Feigned Surprise
- Judge Amy Berman Jackson questioned Binance's lawyers about their surprise at the SEC's actions, noting CZ's past statements and Binance's 2019 ban.
- This highlights the perceived disingenuousness of Binance's claims of surprise, given the SEC's well-known stance.