John Reed Stark has <\/span>shared<\/span><\/a> some compelling proof suggesting that the probabilities of getting approval from the United States Securities Exchange and Commission (SEC) for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) is slim.\u00a0<\/span><\/p>\n More Compelling Evidence Demonstrating That the Chances for SEC Approval of a Bitcoin Spot ETF Are Slim and None (And Slim Just Left Town)<\/p>\n <\/p>\n A brand new research affords much more proof that the crypto-marketplace is completely rigged. In truth, it appears nearly axiomatic that market\u2026<\/p>\n \u2014 John Reed Stark (@JohnReedStark) August 18, 2023<\/a><\/p>\n<\/blockquote>\n <\/p>\n According to the previous SEC boss, there was proof that the digital asset market has been rigged.<\/span><\/p>\n \u201cIt seems almost axiomatic that market manipulation of crypto is not merely ubiquitous and tidewater, but also encouraged. Fraud not only rewarded but also taught,\u201d Stark shared on X (previously Twitter).<\/span><\/p>\n He went on to quote a report from CNBC that detailed how rampant Twitter bots had been used to affect the value of cryptocurrencies together with a number of the tokens traded by insiders at FTX sister buying and selling agency Alameda Research proper earlier than the collapse.\u00a0<\/span><\/p>\n For instance, Twitter proprietor Elon Musk talked about some altcoins which brought on their costs to skyrocket by greater than 50%.<\/span><\/p>\n Stark confirmed that there isn’t a bonafide methodology to worth mathematical computational blather.\u00a0<\/span><\/p>\n <\/p>\n He went on to liken crypto evaluation to a bit of clothes worn by poltergeists. Next, he highlighted the shortage of a strong crypto regulatory framework, transparency, shopper safety, insurance coverage, licensure, web capital necessities in addition to another efficient consumer safety instrument.<\/span><\/p>\n The absence of those options has made the nascent trade a breeding floor for illicit actions together with rug pulls, market manipulation, insider buying and selling and so many different types of exploitation.\u00a0<\/span><\/p>\n Also, he believes \u201cthe cryptoverse has transformed victims into victimizers, drafting and enlisting the mammoth social media horde to serve as unwitting soldiers of fortune (without even having the decency to pay their legions any compensation or military scrip).\u201d<\/span><\/p>\n Looking at his statements, Stark is completely not seeing the potential for the regulator approving the Bitcoin spot ETF. Before now, the previous SEC chief acknowledged that the present administration of the U.S. SEC is not prone to <\/span>approve<\/span><\/a> a spot BTC. He is assured {that a} <\/span>Republican<\/span><\/a> has to come back into energy earlier than the SEC would cease its crackdown on the nascent trade.<\/span><\/p>\n <\/p>\n <\/p>\n Benjamin Godfrey is a blockchain fanatic and journalists who relish writing about the true life functions of blockchain know-how and improvements to drive basic acceptance and worldwide integration of the rising know-how. His wishes to coach folks about cryptocurrencies conjures up his contributions to famend blockchain based mostly media and websites. Benjamin Godfrey is a lover of sports activities and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n\n
Stark Believes Crypto is Rigged<\/strong><\/h2>\n
Bitcoin ETF: the Illicit Activities Blemish<\/strong><\/h2>\n
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