Sorry I just had to. I think crypto as an investable asset class is finished. SEC is sending a very clear signal here. It’s entirely the community’s fault for failing to properly manage this space. They actually earned public’s trust (sometime during the pandemic). And then they threw it all away for a few bucks.
Bitcoin has outperformed 97% of all S&P 500 companies in 2023. Bitcoin was also the best performing asset of the decade. https://imgur.com/a/7SB3MtL
FINES BY SEC: Merrill Lynch – $100 million Fine in 2002, Goldman Sachs- $550 million 2010, Eli Lilly & Co. – $1.42 billion 2009, UBS AG – $1.5 billion in 2012, Abbott Laboratories – $1.6 billion in 2012, Siemens $1.9 billion in 2008, HSBC Holdings – $1.9 billion in 2003, Pfizer – $2.3 billion in 2009, Bank of America – $3.6 billion in 2009, JP Morgan Chase – $13 billion in 2013
Did the SEC send a clear message? Are these company's dead? lol.. Are the industries they are in dead?
Sorry I just had to. I think crypto as an investable asset class is finished. SEC is sending a very clear signal here. It’s entirely the community’s fault for failing to properly manage this space. They actually earned public’s trust (sometime during the pandemic). And then they threw it all away for a few bucks.
FINES BY SEC: Merrill Lynch – $100 million Fine in 2002, Goldman Sachs- $550 million 2010, Eli Lilly & Co. – $1.42 billion 2009, UBS AG – $1.5 billion in 2012, Abbott Laboratories – $1.6 billion in 2012, Siemens $1.9 billion in 2008, HSBC Holdings – $1.9 billion in 2003, Pfizer – $2.3 billion in 2009, Bank of America – $3.6 billion in 2009, JP Morgan Chase – $13 billion in 2013
Did the SEC send a clear message? Are these company's dead? lol.. Are the industries they are in dead?