1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
I've done usdt before but now it's usdc especially for metamask stuff. I know usdt had issues and I'm sure so does usdc but it's been safe so far for me. Keep some in there in case something else interests me or as a savings account if I ever need the fiat.
Only one I've really taken big profit for was shib and most of it was converted to eth and other coins. Everything else on mm has been trading for other coins, same for CB. All my cold wallet stuff hasn't been touched, only would consider it on my Link if I see another big dip coming to buy back in lower and I might convert it on cb to something like usdc to earn interest while it dips.
Thanks, I converted an asset into USDT not to long ago but I thought it was strange after a few weeks the value dropped.
Since BTC has gone down I've sold into USDC, so I'm hoping this doesn't happen.
Yeah I think they're both rather stable but I know USDT might be a bit more volatile. I heard something about them not having enough reserves or something like that. Both should be pegged to the US dollar but of course even that can change in value. I know the frustration of that. Hopefully your USDC remains stable until the next play.
Sounds cool and all but I don't know about posting my wallet like that especially in a public forum. Not saying the wallet info may not be out there already. Bet there's plenty of lurkers waiting for a dusting attack or something else. Nobody knows what may come about from these NFTs. The popular ones I believe are the crypto punks and the bored ape yacht club and their varieties. Even a fukking rock sold for millions so nobody knows what may happen with any of them tho. These might be worth something one day, depending on the artist and how much more work and popularity they get, or could be just some local talent who doesn't make much of an impact on the industry. Plenty of people draw. There's just no guarantee they'll become something big. Free isn't bad. Just make sure you protect yourself if anyone comes at you with any trickery and keep your accounts safe at all times.
Market: down like crazy and coins still not even halfway back from Tuesdays dip.
My accounts: down on CB and MM and likely down a bunch of other places as well.
Me: these damn coins need to start doing something
Cosmos ecosystem: hold our beers!
My accounts: down on CB and MM and likely down a bunch of other places as well.
Me: these damn coins need to start doing something
Cosmos ecosystem: hold our beers!
still in XYO…should take a hit on a slow saturday and get a 2nd wind on sunday/monday
not worried about it dipping below my buy-in
but I could end up leaving money on the table tho if I don’t get that bounce
not worried about it dipping below my buy-in
but I could end up leaving money on the table tho if I don’t get that bounce
Stablecoins Face Crackdown as U.S. Discusses Risk Council Review
By
Jesse Hamilton
and
Saleha Mohsin
September 10, 2021, 8:04 PM EDT
U.S. officials are discussing launching a formal review into whether Tether and other stablecoins threaten financial stability, scrutiny that could lead to dramatically ramped-up oversight for a fast-growing corner of the crypto market.
After weeks of deliberations, the Treasury Department and other federal agencies are nearing a decision on whether to launch an examination by the Financial Stability Oversight Council, said three people familiar with the matter who asked not to be named in commenting on closed-door discussions. FSOC has the power to deem companies or activities a systemic threat to the financial system -- a label that typically sets off tough rules and aggressive monitoring by regulators.
Such a designation would likely be a gamechanger for stablecoins, which are considered crucial to the crypto market because traders widely use them to buy Bitcoin and other virtual currencies.
Stablecoins have thrived in the unregulated shadows, with tokens in circulation now worth more than $120 billion, according to CoinMarketCap.com. And they are increasingly being used for transactions that resemble traditional financial products -- like bank savings accounts -- without offering anywhere near the same level of consumer protections.
A hallmark of stablecoins is that they are pegged to fiat currencies, meaning they are supposed to be immune to the wild price swings that have plagued Bitcoin. Tether and other firms achieve that by backing their tokens with assets like U.S. dollars and corporate debt.
The President’s Working Group on Financial Markets, which is led by Treasury Secretary Janet Yellen, has been particularly focused on Tether’s claims that it holds massive amounts of commercial paper -- debt issued by companies to meet their short-term funding needs. In a private meeting U.S. officials held in July, they likened the situation to an unregulated money-market mutual fund that could be susceptible to chaotic investor runs if cryptocurrencies plunge.
Read More: Why Yellen, Powell Cast a Wary Eye on Stablecoins
The President’s Working Group plans to issue stablecoin recommendations by December, and a consensus is building among regulators involved that an FSOC review is warranted, the people said. The groups overlap, as Yellen, Federal Reserve Chairman Jerome Powell and Securities and Exchange Commission Chair Gary Gensler are members of both the PWG and oversight council.
A Treasury spokesman declined to comment.
The FSOC process includes a lengthy study and an assessment of which federal agencies should respond and how. In the end, the council could direct those agencies to intervene in the market and reduce the dangers posed by stablecoin transactions.
While Tether is the most popular stablecoin, there are multiple rivals, including Coinbase Global Inc.’s USDC token and a dollar-linked offering from Binance Holdings Ltd.
Scrutiny has been ratcheting up as stablecoins proliferate. Coinbase made headlines this week by disclosing the SEC had threatened to sue if the crypto exchange launched a product that would allow customers to earn 4% yields for lending out their USDCs to other traders. The SEC believes the Coinbase proposal is an investment contract that should be registered with the agency, a view the company aggressively contested in a blog post and a series of tweets.
Read More: What’s ‘Yield Farming’ and Why Is the SEC Frowning?
Watchdogs have also privately expressed worries about Diem, a stablecoin being developed by an association that includes Facebook Inc. A top concern is that the token’s market impact could be massive because of its potential for widespread adoption -- Facebook’s social media network has almost 3 billion active users.
Treasury held meetings this week with industry representatives to ask them about the potential dangers associated with stablecoins. As it and other agencies consider taking action, they’re facing intense pressure from Capitol Hill.
“I urge FSOC to act with urgency and use its statutory authority to address cryptocurrencies’ risks,” Senator Elizabeth Warren wrote in a July 26 letter to Yellen that flagged the stablecoin market’s interconnectedness and its susceptibility to investor runs. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences.”
Stablecoins already face another threat from the U.S. government, as the Fed is discussing whether to launch its own digital currency. Powell told lawmakers in July that a central bank token would make stablecoins obsolete.
“That’s one of the stronger arguments in its favor,” he said.
So basically if the government not making money off something, then it's considered a threat to them? Them along with the big central bank are the biggest crooks of all. They want their own stablecoin so they can eventually try to control the entire market. Watch them try and crash the stable coins. They don't wanna have anything safe in crypto.
By
Jesse Hamilton
and
Saleha Mohsin
September 10, 2021, 8:04 PM EDT
- Treasury, other agencies consider launching FSOC examination
- Tokens’ fast growth has triggered anxieties among regulators
U.S. officials are discussing launching a formal review into whether Tether and other stablecoins threaten financial stability, scrutiny that could lead to dramatically ramped-up oversight for a fast-growing corner of the crypto market.
After weeks of deliberations, the Treasury Department and other federal agencies are nearing a decision on whether to launch an examination by the Financial Stability Oversight Council, said three people familiar with the matter who asked not to be named in commenting on closed-door discussions. FSOC has the power to deem companies or activities a systemic threat to the financial system -- a label that typically sets off tough rules and aggressive monitoring by regulators.
Such a designation would likely be a gamechanger for stablecoins, which are considered crucial to the crypto market because traders widely use them to buy Bitcoin and other virtual currencies.
Stablecoins have thrived in the unregulated shadows, with tokens in circulation now worth more than $120 billion, according to CoinMarketCap.com. And they are increasingly being used for transactions that resemble traditional financial products -- like bank savings accounts -- without offering anywhere near the same level of consumer protections.
A hallmark of stablecoins is that they are pegged to fiat currencies, meaning they are supposed to be immune to the wild price swings that have plagued Bitcoin. Tether and other firms achieve that by backing their tokens with assets like U.S. dollars and corporate debt.
The President’s Working Group on Financial Markets, which is led by Treasury Secretary Janet Yellen, has been particularly focused on Tether’s claims that it holds massive amounts of commercial paper -- debt issued by companies to meet their short-term funding needs. In a private meeting U.S. officials held in July, they likened the situation to an unregulated money-market mutual fund that could be susceptible to chaotic investor runs if cryptocurrencies plunge.
Read More: Why Yellen, Powell Cast a Wary Eye on Stablecoins
The President’s Working Group plans to issue stablecoin recommendations by December, and a consensus is building among regulators involved that an FSOC review is warranted, the people said. The groups overlap, as Yellen, Federal Reserve Chairman Jerome Powell and Securities and Exchange Commission Chair Gary Gensler are members of both the PWG and oversight council.
A Treasury spokesman declined to comment.
The FSOC process includes a lengthy study and an assessment of which federal agencies should respond and how. In the end, the council could direct those agencies to intervene in the market and reduce the dangers posed by stablecoin transactions.
While Tether is the most popular stablecoin, there are multiple rivals, including Coinbase Global Inc.’s USDC token and a dollar-linked offering from Binance Holdings Ltd.
Scrutiny has been ratcheting up as stablecoins proliferate. Coinbase made headlines this week by disclosing the SEC had threatened to sue if the crypto exchange launched a product that would allow customers to earn 4% yields for lending out their USDCs to other traders. The SEC believes the Coinbase proposal is an investment contract that should be registered with the agency, a view the company aggressively contested in a blog post and a series of tweets.
Read More: What’s ‘Yield Farming’ and Why Is the SEC Frowning?
Watchdogs have also privately expressed worries about Diem, a stablecoin being developed by an association that includes Facebook Inc. A top concern is that the token’s market impact could be massive because of its potential for widespread adoption -- Facebook’s social media network has almost 3 billion active users.
Treasury held meetings this week with industry representatives to ask them about the potential dangers associated with stablecoins. As it and other agencies consider taking action, they’re facing intense pressure from Capitol Hill.
“I urge FSOC to act with urgency and use its statutory authority to address cryptocurrencies’ risks,” Senator Elizabeth Warren wrote in a July 26 letter to Yellen that flagged the stablecoin market’s interconnectedness and its susceptibility to investor runs. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences.”
Stablecoins already face another threat from the U.S. government, as the Fed is discussing whether to launch its own digital currency. Powell told lawmakers in July that a central bank token would make stablecoins obsolete.
“That’s one of the stronger arguments in its favor,” he said.
So basically if the government not making money off something, then it's considered a threat to them? Them along with the big central bank are the biggest crooks of all. They want their own stablecoin so they can eventually try to control the entire market. Watch them try and crash the stable coins. They don't wanna have anything safe in crypto.
satireprod
Superstar
Stablecoins Face Crackdown as U.S. Discusses Risk Council Review
By
Jesse Hamilton
and
Saleha Mohsin
September 10, 2021, 8:04 PM EDT
- Treasury, other agencies consider launching FSOC examination
- Tokens’ fast growth has triggered anxieties among regulators
U.S. officials are discussing launching a formal review into whether Tether and other stablecoins threaten financial stability, scrutiny that could lead to dramatically ramped-up oversight for a fast-growing corner of the crypto market.
After weeks of deliberations, the Treasury Department and other federal agencies are nearing a decision on whether to launch an examination by the Financial Stability Oversight Council, said three people familiar with the matter who asked not to be named in commenting on closed-door discussions. FSOC has the power to deem companies or activities a systemic threat to the financial system -- a label that typically sets off tough rules and aggressive monitoring by regulators.
Such a designation would likely be a gamechanger for stablecoins, which are considered crucial to the crypto market because traders widely use them to buy Bitcoin and other virtual currencies.
Stablecoins have thrived in the unregulated shadows, with tokens in circulation now worth more than $120 billion, according to CoinMarketCap.com. And they are increasingly being used for transactions that resemble traditional financial products -- like bank savings accounts -- without offering anywhere near the same level of consumer protections.
A hallmark of stablecoins is that they are pegged to fiat currencies, meaning they are supposed to be immune to the wild price swings that have plagued Bitcoin. Tether and other firms achieve that by backing their tokens with assets like U.S. dollars and corporate debt.
The President’s Working Group on Financial Markets, which is led by Treasury Secretary Janet Yellen, has been particularly focused on Tether’s claims that it holds massive amounts of commercial paper -- debt issued by companies to meet their short-term funding needs. In a private meeting U.S. officials held in July, they likened the situation to an unregulated money-market mutual fund that could be susceptible to chaotic investor runs if cryptocurrencies plunge.
Read More: Why Yellen, Powell Cast a Wary Eye on Stablecoins
The President’s Working Group plans to issue stablecoin recommendations by December, and a consensus is building among regulators involved that an FSOC review is warranted, the people said. The groups overlap, as Yellen, Federal Reserve Chairman Jerome Powell and Securities and Exchange Commission Chair Gary Gensler are members of both the PWG and oversight council.
A Treasury spokesman declined to comment.
The FSOC process includes a lengthy study and an assessment of which federal agencies should respond and how. In the end, the council could direct those agencies to intervene in the market and reduce the dangers posed by stablecoin transactions.
While Tether is the most popular stablecoin, there are multiple rivals, including Coinbase Global Inc.’s USDC token and a dollar-linked offering from Binance Holdings Ltd.
Scrutiny has been ratcheting up as stablecoins proliferate. Coinbase made headlines this week by disclosing the SEC had threatened to sue if the crypto exchange launched a product that would allow customers to earn 4% yields for lending out their USDCs to other traders. The SEC believes the Coinbase proposal is an investment contract that should be registered with the agency, a view the company aggressively contested in a blog post and a series of tweets.
Read More: What’s ‘Yield Farming’ and Why Is the SEC Frowning?
Watchdogs have also privately expressed worries about Diem, a stablecoin being developed by an association that includes Facebook Inc. A top concern is that the token’s market impact could be massive because of its potential for widespread adoption -- Facebook’s social media network has almost 3 billion active users.
Treasury held meetings this week with industry representatives to ask them about the potential dangers associated with stablecoins. As it and other agencies consider taking action, they’re facing intense pressure from Capitol Hill.
“I urge FSOC to act with urgency and use its statutory authority to address cryptocurrencies’ risks,” Senator Elizabeth Warren wrote in a July 26 letter to Yellen that flagged the stablecoin market’s interconnectedness and its susceptibility to investor runs. “The longer that the United States waits to adapt the proper regulatory regime for these assets, the more likely they will become so intertwined in our financial system that there could be potentially serious consequences.”
Stablecoins already face another threat from the U.S. government, as the Fed is discussing whether to launch its own digital currency. Powell told lawmakers in July that a central bank token would make stablecoins obsolete.
“That’s one of the stronger arguments in its favor,” he said.
So basically if the government not making money off something, then it's considered a threat to them? Them along with the big central bank are the biggest crooks of all. They want their own stablecoin so they can eventually try to control the entire market. Watch them try and crash the stable coins. They don't wanna have anything safe in crypto.
FSOC?
Seems like its a new set of alphabet boys popping up every week, trying to stop the people.This part in particular is CRAZY
"FSOC has the power to deem companies or activities a systemic threat to the financial system"
What in the vague, RICO/Racketeering charges is this BS
FSOC?
This part in particular is CRAZY
"FSOC has the power to deem companies or activities a systemic threat to the financial system"
What in the vague, RICO/Racketeering charges is this BS
I'm white and I say so
pretty muchsatireprod
Superstar
I'm white and I say so
on some, break it up boys,
yall not making no money...not around here 
on some, break it up boys,
American Govt and their rich white stooges always want their cut
by hook or by crooksatireprod
Superstar
American Govt and their rich white stooges always want their cut
by hook or crook, indeed