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y'all ready to admit Gensler was closer to the correct crypto regulatory environment or what
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If traditional assets can be tokenized and transferred between Ethereum and Solana, they could probably also be tokenized and transferred between chains controlled by Coinbase and Robinhood, for example, without any need for Ethereum or Solana. Seems bad for $ETH and $SOL.
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The danger for Republicans embracing crypto is that it opens the door for Democrats to position themselves as the Bitcoin purists, which is the correct position.
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me trying to explain to ethereum proponents that Base is parasitic for $ETH and brian armstrong is not their friend
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Bitcoin users revolted when Coinbase backed multiple hard fork attempts to hijack the network for its own gain. Ethereum users are watching Coinbase push everyone to Base, capture the ETH-denominated fees, and respond by politely asking them to say “Built on Ethereum” more often.
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There is no way to guarantee that all custodians aren’t creating paper bitcoin out of thin air. But you can at least protect yourself from potential financial loss in a situation where fractional reserve bitcoin is exposed by taking custody of your own coins. And when you protect yourself, you also help make the Bitcoin network stronger as a whole.
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