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Jake Chervinsky
@jchervinsky
A hidden gem in the CFTC's KuCoin complaint today. It may seem minor, but this is actually pretty savage by DC standards. While the SEC tries to signal that ETH is a security, the CFTC shows up to say clearly and loudly: "this issue is settled, ETH is ours, back off." LTC is a cherry on top. SEC vs. CFTC cold war:
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Hexidethmal 🟪
@hexidethmal
Perhaps it’s not surprising that another agency will not simply let another ignore written law and case law both, in an attempt to subvert its own mandate under law. In a way, it would it be strange if the CTFC didn’t tell the SEC to sit down, as it would itself violate law by refraining? 🤔
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Jake Chervinsky
@jchervinsky
Yes. The strange part is unequivocally the SEC trying to ignite a civil war within the Biden administration during an election year 🙃
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Hexidethmal 🟪
@hexidethmal
What do I know, but I always guessed that Warren was promised xyz by Biden in exchange for her supporters last general, and she views this as her territory now. More of a Warren vs Biden thing along a promised line of demarcation. Maybe I need to take the foil hat off
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Jake Chervinsky
@jchervinsky
I think you're spot on. Warren handpicked many of Biden's top financial regulators (e.g., Gensler, Khan, Chopra). Whether that was an explicit promise from Biden in exchange for her support or just generally what he felt was necessary to satisfy progressives, who knows. Either way, she's an influential force right now.
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