DEMAND BETTER DISCLOSURES

“The other people, I don't think, were aware that the pool is, you know, 93% collateralized, but effectively by one entity. This is about the fact that that the entire DeFi ecosystem has enormous issues that are undisclosed to people who participate in it. And this is going to be meat to the lions on the regulatory side because it is exactly the sort of thing that good regulators care about.”

“These problems happen because of a lack of regulation. You know? Not all regulation is bad. A lot of it is. A lot of regulation is written by the companies to create motes and competitive weapons for them, but basic disclosure sort of rules are good. And without clarity, this is exactly the sort of thing that would happen.”

“My primary concern when I saw the news break was that this is going to put this potential legislation in protracted debate now about the things that we all have worried would be the killers of this bill, including now really having a case to box Trump in on an ethics clause in this thing. I am concerned it's gonna give the opportunity for people who don't wanna see crypto adoption to kill this bill.”

“I actually think that him opening the door to allow people to invest in meme coins was intentional to try to, you know, kinda push out, you know, the shit to basically collapse the altcoin market in the end. I actually think that that was intentional. They issued guidance that says meme coins are not securities. He did help the alt industry, you know, kind of self-emulate.”

“You can go into the code, and you can actually see what they can do and what they can't do. You can see if they want to, they can issue a trillion coins. And you know if you're invested in that, you are investing that. What we're talking about now is the balance of how much do we want to allow people to buy what they wanna buy.”