CZ Buyout of FTX Is Not Good From a Decentralization Standpoint, Binance Will Be a De Facto Monopoly & Surveillance System For US Capital Controls & Economic Meddling

"The fact we are debating DeFi protocol regulation before responsible disclosures like proof-of-reserves and liquidity from the mega-funds like a16z and Alameda shows just how far off the ball we are on policy right now."

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This is without a doubt the greatest example of why CeFi and KYC are evil thus so far. Just ever tilting increases in surveillance, conglomerization, shell games, opaque insolvent VC, just having US congress put people utterly at the mercy of custodial corporate bs.

SBF said he would let "crypto twitter handle the regulation process", he backed down and didn't kiss the ring for what the US Feds wanted in crypto policy, and a week later he loses 12 billion dollars and gets bought out by a highly centralized conglomerate under the thumb of the US.

Policy is being set by US Silicon Valley SF types with the IPO Spac policy. This is clear Wallstreet hijack cooption. These people dont' believe in the ethos or idea or international standards of crypto, they aren't 'us'.

and the staffers and people in washington are hyper bias to the Security SV SF VC ecosystem, bias to american law, and oblivious to crypto, oblivious to international finance laws as well. Really antithetical to crypto

Where we are at as an industry, is the rest of the world has to mandate 2 or 3 hop chain analysis, blocklists, and vpn api detectors to make sure US citizens are banned from the entire global crypto industry. This is insane.

If you let the americans get away with this, they will spread their system to your country to get your country to backdoor and base layer censor your crypto. Their Silicon Valley system, where the rich get richer, needs to be blown off the runway before the cancer spreads.