2023-10-30

😅 Old Gensler vs. New Gensler

October 30, 2023

Good morning, beautiful people,Well, $34k Bitcoin held through the weekend!

Let's take crack on!

🤔 Gensler's Inconsistencies Unearthed
🛡️ Protect Your Precious Coins!
🇸🇻 Bitcoin Shines on El Salvador

🔄 Gary Gensler: A Change of Heart on Bitcoin ETFs?

Gary Gensler's past self is coming back to haunt him. 👻

In a resurfaced video from 2019, Gensler criticized the SEC's "inconsistent" stance on spot Bitcoin products.He voiced his concerns at the MIT Bitcoin Expo, highlighting the contrast with the present Gensler, who's been denying spot Bitcoin ETF applications left and right. 🔄🧐Schoolboy error, Gary, remember...what gets posted on the internet is around forever! 🤦

Back then, he questioned why Bitcoin futures were allowed to exist while Bitcoin ETFs faced roadblocks. He pointed out the similarities in laws governing both, making the SEC's approach seem contradictory.

The crypto community on X couldn't resist highlighting this flip-flop in Gensler's position.Market analyst Zack Voell quipped, "Gary Gensler says Gary Gensler is wrong." It seems we missed out on the "chill and normal" Gensler of the past. 😅📜

The SEC, under Gensler's lead, has been a tough nut to crack for spot Bitcoin ETF hopefuls. They've faced rejection, delays, and setbacks, all under the premise of lacking protections against market manipulation.

Grayscale took the SEC to court after their bid to convert an existing Bitcoin trust into a spot ETF was turned down. The court sided with Grayscale, deeming the SEC's rejection "arbitrary and capricious." Interestingly, the SEC chose not to appeal.Skeletons in the closet for the SEC (well, it is nearly Halloween!) 💀🦴

🛡️ Guarding Your Crypto: Bitrace Unearths 3 Cunning Hacks!

Crypto holders beware! The rising chorus of "my coins vanished!" has a common origin: downloading crypto apps from sketchy sources.

To safeguard your digital assets, you must be versed in the crafty techniques hackers use.Bitrace, the blockchain sleuth, has revealed three potent tactics that cyber villains employ to pilfer cryptocurrencies.As the crypto market starts hotting up again, you need to be aware...no jokes here!

First up, the SEO trap: hackers manipulate search results to lure users into downloading fake apps, complete with hidden backdoors. A faux Telegram app, for instance, stealthily replaced copied wallet addresses, cunningly rerouting tokens straight to the attacker.

Then there's the clipboard heist: malevolent software snatches previously copied text, often revealing vital seed phrases. These phrases act as golden keys to wallets, granting unauthorized access. 🗝️

Last but not least, the "high yield, low risk" liquidity scams take a prominent spot in the Hall of Crypto Theft Fame. Bitrace suggests a trio of techniques to trace stolen funds, starting with scrutinizing transaction fees. This often leads investigators straight to the hacker's doorstep.

For a fighting chance at reclaiming stolen assets, blockchain explorers and professional tools are the crypto detective's trusted sidekicks.Regardless, getting stolen assets back is near impossible for regular Joes like us. (Trust me...🤐)

Stay vigilant, crypto warriors! 🛡️🔍

🌍 El Salvador: The Potential 'Singapore of the Americas'

Two years into adopting Bitcoin as legal tender alongside the US dollar, El Salvador emerges as an economic dynamo in Central America.

President Nayib Bukele's visionary move has drawn substantial capital investments fueled by tourism and immigration, setting the nation apart from its neighbors.

In the throes of global economic shifts, including the BRICS alliance surge, Middle East tensions, and the Russia-Ukraine war, El Salvador's bold Bitcoin adoption stands as a beacon of economic strength.With annual inflation of a mere 1.8 percent, further tempered by halving events, and a unique reliance on Bitcoin mining over direct money printing, El Salvador's economic outlook is robust.

According to Gabor Gurbacs, the strategist at investment powerhouse VanEck, dismissing El Salvador's potential would be a costly mistake.He envisions El Salvador mirroring Singapore's ascent in the Southeast Asian market—a strategic economic juggernaut with a booming GDP and a magnet for foreign investment, particularly in the Web3 sector, thanks to its crystal-clear crypto regulations.Just wait till the peak of the next bull run...oh, to be Salvadoreño! 🏆

El Salvador's Bitcoin venture has piqued Wall Street's interest, especially amid lackluster US treasury bond performance.Bitcoin's meteoric 100% year-to-date surge eclipses the S&P 500's modest 5%. The government's foray into Bitcoin mining and issuance of BTC bonds beckon institutional investors into the burgeoning Web3 landscape.Could the tide be turning?