Good morning DailyCoiners,Investment quote of the day:

A wise person should have money in their head, but not in their heart. Jonathan Swift

With those words of wisdom in place, let’s crack on with today’s newsletter.

• 👮 Crypto's Wild West: Bloomberg Finds Few Sheriffs in Town

• 🐕 SEC to Coinbase: You're Barking Up the Wrong Tree

• 🤐 Crypto Keeps No Secrets: The Secret Service's Surprising Take

👮 Crypto's Wild West: Bloomberg Finds Few Sheriffs in Town

Bloomberg's recent investigation into the crypto industry is akin to a sheriff riding into a lawless Wild West town.

The sobering findings? 

Only 63% of surveyed crypto firms have an independent board, akin to a ship without a compass. Worse, just over half employ an independent auditor, a red flag as glaring as a bull in a bear market. 

In this crypto frontier, the outlaws seem to outnumber the law-abiding. 

It’s a wake-up call as loud as a warning shot over the bow for the industry to tighten governance reins and avoid another 'FTX-style' implosion. 

Without more sheriffs, this crypto rodeo is set to continue its unchecked ride.

🐕 SEC to Coinbase: You're Barking Up the Wrong Tree

Like a petulant child demanding candy, Coinbase has been crying out for clarity on crypto regulations. 

Yet, the SEC, playing the stern parent, has decisively shut the door on their pleas.

The regulator has made it clear: digital assets are securities, and no amount of foot-stomping will change the rules of the game. 

The SEC sees Coinbase's requests as tangled as a blockchain's nodes and asserts that neither time nor law compels them to untangle it. 

The bottom line? 

Coinbase's impatience won't dictate the SEC's pace. 

The SEC's King, Gary Gensler, checked Coinbase's Queen in this regulatory chess match.It’s a stark reminder: in the grand game of finance, patience, not speed, reigns supreme.

🤐 Crypto Keeps No Secrets: The Secret Service's Surprising Take

Picture this: U.S. Secret Service agents lounging in the office, monitoring the blockchain like it's a gripping Netflix crime series.

In a Reddit AMA, they spilled the beans about their own crypto stash and a fascinating NFT collection—probably the last thing you'd expect from this clandestine bunch. 

According to them, blockchains are less a dark alley for crooks and more a neon-lit stage, with every transaction under the spotlight. 

The agents have a clear message for those considering crypto for nefarious deeds: it's easier to track than a hyperactive bloodhound on a scent trail. 

As for the best way to hide shady financial actions? 

They suggest good old-fashioned cash, which leaves no digital fingerprints behind, unlike crypto.

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