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Coinbase Just Realized It’s Getting Played by Crypto Bros and Now They Want Everyone to Know How Much They Hate Regulation

Crypto NewsHackNFTs 5 Doug Martinez August 16, 2024

An illustration of a cartoon bear wearing glasses holding an "I Hate Regulation" sign while standing next to a broken clock with chains wrapped around it; another bear is shown trying to break free from the chains but being held back by a large hand. In the background, there are scattered papers and books labeled as laws and regulations, some torn apart or on fire. The atmosphere of the scene suggests chaos and frustration. A small group of bears in the distance can be seen running away with their hands up in surrender.

It seems like Coinbase has finally woken up from its slumber long enough to realize that it’s being used as a pawn by the crypto bros who just want to make money off their get-rich-quick schemes. The CFTC is trying to regulate event contracts because they’re basically nothing but thinly veiled attempts at insider trading, and Coinbase should be supporting this effort instead of whining about “innovation” like it’s some sort of sacred cow

Source: bitcoin.com

Coinbase Challenges CFTC Proposal, Advocates for Balanced Regulation of Event Contracts
https://news.bitcoin.com/coinbase-challenges-cftc-proposal-advocates-for-balanced-regulation-of-event-contracts
Coinbase Chief Legal Officer Paul Grewal has raised concerns on social media regarding the Commodity Futures Trading Commission’s (CFTC) proposed rule to ban certain event contracts. Coinbase has also formally responded to the proposal, urging the CFTC to reconsider its stance, which the company argues could stifle innovation in the prediction markets. Paul Grewal took to X, formerly known as Twitter, to express his disapproval of the CFTC’s proposed rulemaking, […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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