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Crypto Companys CEO Loses Mind Over Proposed Ban on Gambling With Other Peoples Money

AltcoinsCrypto NewsHack 1 Kevin Nelson August 16, 2024

An illustration: A cartoon CEO with his hair standing up like spikes from a madman's head; he has one hand holding onto an anchor while being pulled away by strong winds towards a stormy sea representing the proposed ban. In the background are two other figures - Steve Humenik and Coinbase, both trying to pull him back using ropes labeled as 'regulation' and 'transparency'. The CEO is surrounded by warning signs of 'over-regulation', 'excessive authority', and 'drafting errors'. A faint image of a CFTC building can be seen in the distance.

Crypto lovers can’t catch a break it seems – first they’re trying to convince us that their precious crypto has inherent value (spoiler alert: it doesn’t), now we have prediction markets and event contracts being threatened by the CFTC. Steve Humenik from Crypto.com is crying foul, saying this proposed rule change will be “overly prescriptive” and exceed the Commission’s authority – sounds like a bunch of crypto-speak to me

Source: bitcoin.com

Crypto.com Opposes Proposed US Ban on Prediction Markets and Event Contracts
https://news.bitcoin.com/crypto-com-opposes-proposed-us-ban-on-prediction-markets-and-event-contracts
Crypto.com Senior Vice President Steve Humenik has joined Coinbase by voicing opposition to a proposed rule change by the Commodity Futures Trading Commission (CFTC) that could lead to the prohibition of prediction markets in the United States. In a letter to the CFTC, Humenik expressed concerns about the implications of the proposed regulation, urging the Commission to reconsider its approach. In a detailed letter to the Commodity Futures Trading Commission […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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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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