welcome back everybody to altcoin daily my name 
is aaron very important video today make sure you   watch the entire thing because i have information 
that the mainstream media is not sharing with you   that's the reason why you subscribe to this 
channel is because on a daily basis we release   a video we demystify the entire cryptocurrency 
market we talk about the entire cryptocurrency   market while the mainstream media either they 
never share this stuff with you or if they do they   only give you the headlines they never provide 
you with perspective they never give you the full   story the big picture the context that's exactly 
what we do here that's exactly why you subscribe   and the point of today's video you've probably 
seen the headline if you haven't i'm going to tell   you the problem i'm going to tell you why this 
is outrageous and i'm going to share with you and   show you unequivocally why this is manipulation 
this is a trap they do not want retail investors   like you like me to be involved in cryptocurrency 
right now yet behind the scenes they are filling   their bags so join us on our road to 1 million 
subscribers and let's get into it what the sec   is doing is unequivocally 100 manipulation of the 
cryptocurrency market they are not providing clear   and common sense regulations like they once said 
they would instead they're not providing clarity   at all and just going after bullying certain 
cryptocurrency companies just a few of them   based on their whims and not even telling them 
why this is directly sending the prices lower   let me share with you what i'm talking about the 
headline is this scrap the lending product or   will sue the sec tells coinbase the securities 
and exchange commission has threatened to sue   coinbase the largest us-based cryptocurrency 
exchange over plans to issue a lending product the   company says it has no idea why you won't believe 
the information that ceo brian armstrong has just   shared with crypto twitter some really sketchy 
behavior is coming out of the sec recently   story time listen to this this is the manipulation 
let me know in the comments if you agree with me   this is what brian armstrong has to say millions 
of crypto holders have been earning yield on their   crypto assets over the last few years this makes 
sense if you want to lend out your funds you can   earn a return everybody seems happy with this 
right a bunch of great companies in crypto have   been offering versions of this quite literally for 
years coinbase has just came out recently and said   we would be launching our own version of this 
product we're planning to go live with this in   a few weeks so we reached out to the sec to give 
them a friendly heads up and a briefing that we're   going to be offering four percent apy three to 
four percent when customers deposit usdc coins on   coinbase seems pretty standard the sec responded 
by telling us that this lend feature is a security   okay seems strange how can lending be a security 
so we asked the sec to help us understand and   share their view we always make an effort to work 
proactively with regulators and keep an open mind   i liked this they refused to tell us why 
they think it's a security and instead   subpoenaed a bunch of records from us we complied 
demanded testimony from our employees we complied   and then tell us they will be suing us if we 
proceed to launch with zero explanation as to why   as they let plenty of other companies in america 
do exactly this they're messing with the markets   brian armstrong continues look 
we're committed to following the law   sometimes the law is unclear so if the sec wants 
to publish guidance we're happy to follow that   it's nice if you actually enforce it evenly across 
the industry by the way equally evenly they're not   doing this they're just going after a few based on 
their whims and not providing regulatory clarity   but in this case they are refusing to offer any 
opinion in writing to the industry on what should   be allowed and why instead the sec is engaging 
in intimidation tactics behind closed doors is available we're seeing it play out right 
in front of our eyes they're manipulating the   prices down they're scaring the market 
by threatening to sue certain companies   for what other u.s companies are already 
doing and there's just no rhyme or reason   let me know what you think about this in the 
comments below i'll tell you one thing and i'll   get to this more towards the end of the video i am 
buying right here i am buying right here i fully   believe that this is a trap and i fully believe 
they're trying to fool us by doing this stuff   let's continue because the real crux of this 
is march 2nd 2021 as brian armstrong continues   gentler the sec chair said in his confirmation 
hearing march 2nd he says it's important for the   sec to provide guidance and clarity sometimes 
that clarity will be a thumbs up but even if   it's a thumbs down it's important to provide that 
that's not what they're doing they're messing with   the market and if you don't want this activity 
then simply publish your position in writing and   enforce it evenly across the industry how can you 
not agree with this ostensibly the sec's goal is   to protect investors and create fair markets right 
so who are they protecting here and where is the   harm people seem pretty happy to be earning 
yield on these various products across lots   of cryptocurrency companies and surely coinbase 
is three to four percent isn't that big a deal   shutting these down would arguably be harming 
consumers more than they're protecting them and by   preventing coinbase from launching the same exact 
thing that other companies already have live they   are creating an unfair market you agree with this 
right the sec is creating an unfair market the   sec is manipulating the prices and this is a 
buying opportunity like i said that's my opinion   but many people get scared away because of 
this and let's continue because you won't   believe this next part in may of this year 
brian armstrong continues i traveled to dc   to meet with every regulator and branch of 
government that i could he traveled to washington   the sec was the only regulator that refused to 
meet with me saying we're not meeting with any   crypto companies and this was right after that 
coinbase had become the first cryptocurrency   company to go public in the us and the sec will 
not meet with them see gensler had just been   confirmed a month prior so they brushed it off 
as the sec was maybe still getting its feet   under everything now i'm not so sure coinbase 
has always tried to be good actors in this space   leaning into sensible regulation even when it's 
difficult or expensive we try to think about what   products we would want for ourselves and what 
risks we would want our families to be aware of   before launching products say what you want about 
coinbase like it or hate it but they're pretty   middle of the road they're they're definitely 
one of the good guys in the space and pushing   crypto further into the mainstream and making 
things easier for retail like you like me   we will keep following this approach yet here 
we're being threatened with legal action before   a single bit of actual guidance has been given to 
the industry on these products how is this fair   if we end up in court we may finally get the 
regulatory clarity the sec refuses to provide   but regulation by litigation should be the last 
resort by the sec not the first unless the sec   has a different agenda in mind than what their job 
is brian armstrong finishes out saying coinbase's   door remains open we're ready to talk hopefully 
the sec steps up to create the clarity that   this industry deserves without harming consumers 
without harming companies in the process without   manipulating the price america could really 
use us all working together to figure this out   right now so the reason that i say this is a 
trap the reason i say this is manipulation the   reason that i warn do not be fooled is because all 
the sec is doing seemingly purposefully creating   confusion creating fear creating uncertainty 
creating doubt seemingly all that's happened   thus far is bitcoin ethereum and the whole 
cryptocurrency market has incurred significant   losses and people get scared when they see this 
happening people get scared when the price dips   this much you know what i think is going to happen 
there's almost no doubt in my mind i'm 99.999 sure   that at a certain point the sec is going to come 
out and say we're sorry we didn't mean it coinbase   you're good or at the very least just give them 
a slap in the wrist or even most likely actually   come out and make clear what the regulations are 
so everybody can follow them like we all want to   but for now they're just scaring the market and it 
literally makes no sense so according to the sec   i guess you're welcome to put your entire 
life savings into this dog coin ship or   into deep out of the money options on esoteric 
illiquid equities on different mobile apps but   how dare you even consider earning three to four 
apy on a low risk lending product from a publicly   traded company that's following all the rules this 
is insane one of the main reasons that the us has   such strong capital markets is because companies 
and investors can rely on the rule of law rather   than being at the mercy of the whims of government 
officials the sec is directly undermining its own   mission to promote those markets if this continues 
if the sec thinks that all non-bank interest   products are securities that require the offer 
to become a public reporting company then they're   not just picking a fight with crypto they're going 
after the entire fintech space but again everybody   who's thinking long term can pretty much see that 
coinbase has enough clients with enough aggregate   power to win this because bottom line the sec is 
not being clear they're being inconsistent and   coinbase and companies like it have a lot of power 
to fight this not to mention all the politicians   more than ever that hold bitcoin or hold ethereum 
or hold crypto not to mention that with this dip   bitcoin ethereum and the whole cryptocurrency 
market are looking rather bullish consider this   bitcoin for those who have been around for a while 
you will remember when we stayed at six thousand   dollars for months and finally dropped to 3.5 
k demand was low and recovery took a lot longer   demand is much higher these days and that's why i 
get excited about volatility this is a place that   i'm buying not selling super trend still bullish 
momentum still up and until i see this invalidated   i think we're still on a path to break all time 
highs and taking a look at bitcoin's monthly chart   all it does is print both flags and pump since 
2011 all it does is print bull flags and pump and   it's just what we're doing here like i've been 
saying launchpad ladies and gentlemen launchpad   not to mention our bitcoin fundamentally 
and adoption-wise has never been better   sats are the standard in el salvador you love 
to see it one out of 195 countries are holding   bitcoin we are so early and ethereum for 
totally different reasons looking equally   as bullish if not more so with the strength 
of bitcoin ethereum's looking even stronger   with the strength of ethereum cryptocurrency is 
looking even stronger and with robin hood adding   reoccurring daily crypto purchases starting 
at one dollar with nba all-star steph curry   joining crypto exchange ftx as a global ambassador 
with dojicat launching eco-friendly nfts on tezos   how can you not be bullish let me know which 
cryptocurrencies you're buying on this dip or   if you think i'm totally crazy if you think 
this is the end let me know in the comments   because i always like to hear differing opinions 
i always am looking to having my mind changed or   being proven wrong so let me know either which 
coins you're buying or let me know if you have a   different opinion with that being said join us on 
the road to 1 million subscribers see you tomorrow

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