Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Gary Gensler WAS DECIDING VOTE IN SEC SPOT $BTC ETF APPROVAL
by
coolcoinz
on 11/01/2024, 18:21:58 UTC
⭐ Merited by vapourminer (1)
I don't know why they'd vote against, knowing that it would mean a number of lawsuits that they'd most likely lose and have to cough up some money and apologies? They lost a case, did not appeal which means they knew it was a lost cause. It's rare for the government to give up unless they know they don't have anything to support the claim. I read a few articles by lawyers who said that the SEC has now only 2 options. They can either approve a spot ETF, or they can admit to being wrong in the first place and cancel approval for futures ETF. In both cases it would mean the companies would take them to court and win again because futures ETF was trading with no issues since 2018 so there's no way for the SEC to claim that the market is too dangerous to investors.

On the secondary topic the market sure tanked

I don't care about ups and downs as long as they remain proportional. If we go +10% up on a given day and then 10% down on the next, it literally means nothing to me. On the average we were at 45.8k yesterday and over $46k now. That's a pump if you're looking at it on the daily like I do. Pump or no pump, bitcoin is going up in the long run.