Cryptocurrency community thrilled with Pres Biden nominee for Comptroller of the Currency

[Millard]

View: https://twitter.com/Cointelegraph/status/1352356624611086338?s=20


Former Ripple advisor set to become Comptroller of the Currency: WSJ
President Joe Biden looks set to appoint another former crypto executive to head up the Office of the Comptroller of the Currency.

According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency.

The report cites insiders “familiar with the matter” who expect President Biden to nominate former Treasury Department official, Michael Barr, to the top post overseeing national banks.

Source: Former Ripple advisor set to become Comptroller of the Currency: WSJ

 

[Millard]

View: https://twitter.com/alex_sammon/status/1352659337278234626



His connection to Ripple, celebrated in particular by the crypto world, is perhaps the biggest red flag. Ripple has been notoriously scandal-plagued. It was sued by the SEC for allegedly selling its cryptocurrency XRP without registering it as a security. Its executives, CEO Brad Garlinghouse and co-founder Chris Larsen, went on to raise billions of dollars in sales of the unapproved security, according to the SEC complaint. Some observers on the fintech side suggested that Barr’s appointment could help snuff out those charges. “While Barr will make the financial industry more crypto-friendly, the question awaiting is that will it also impact the ongoing lawsuit?” wondered crypto publication Morning Tick.

Of course, Ripple has nothing but contempt for the SEC and its regulatory endeavors. The SEC is “engaged in an all-out attack on the crypto industry,” proclaimed CEO Brad Garlinghouse in a recent post on their website. “You should also know and expect that the SEC will likely do everything they can to paint Ripple, Chris and me in the worst possible light.” Garlinghouse went on to assure Ripple’s users that their lawyers were certain they would prevail in this legal dustup.

Barr no longer works at Ripple, but the connection is not distant. In 2019, the University of Michigan, where Barr currently works as a professor of law and public policy, just so happened to receive a $1 million grant from Ripple’s University Blockchain Research Initiative.

Source: Fintech Loves This Rumored Biden Nominee

 

[Aftermath9716]

Ripple ain't crypto bro.

 

[Aftermath9716]

You want cryptocurrency that takes power AWAY from the govt not sleep with them, bailout the wealthy, spend more than what you have forcing the working class to take the inflation, imagine your parents having maxed out their credit cards buying a big house and a Ferrari but the debt is passed on to their kids. With an alternative currency debt is gone and any bills those irresponsible parents owe will be on THEM not you, you are FREE




Edit: Though maybe I could be wrong and vendors at the ugl will start accepting ripple as payment after seeing this post

 

[Millard]

Ripple ain't crypto bro.

The news is about much more than Ripple.

You want cryptocurrency that takes power AWAY from the govt not sleep with them, bailout the wealthy, spend more than what you have forcing the working class to take the inflation, imagine your parents having maxed out their credit cards buying a big house and a Ferrari but the debt is passed on to their kids. With an alternative currency debt is gone and any bills those irresponsible parents owe will be on THEM not you, you are FREE

That misses the point of the announcement.

The government will regulate cryptocurrency in one way or another.

Government regulators that are "friendly" towards cryptocurrency assets are better than regulators who are "hostile".

There's hope that Barr and some other Biden nominees will be "friendly" towards crypto assets

Michael Barr, nominee for Office Comptroller of the Currency chief (OCC).

Why? Former Ripple adviser.

Gary Gensler, nominee for U.S. Securities and Exchange Commission chief (SEC)

Why? Taught blockchain course at MIT.

Chris Bummer, Biden nominee for Commodity Futures Trading Commission chief (CFTC)

Why? Edited book on cryptocurrency.

The takeaway is that this is potentially a positive development for those looking to make money with crypto assets.

I'm not sure what you think crypto assets are a financial panacea for the working class; if there is money to be made, wealthy and institutional investors will be all over it.

 

[Aftermath9716]

The news is about much more than Ripple.

That misses the point of the announcement.

The government will regulate cryptocurrency in one way or another.

Government regulators that are "friendly" towards cryptocurrency assets are better than regulators who are "hostile".

There's hope that Barr and some other Biden nominees will be "friendly" towards crypto assets

Michael Barr, nominee for Office Comptroller of the Currency chief (OCC).

Why? Former Ripple adviser.

Gary Gensler, nominee for U.S. Securities and Exchange Commission chief (SEC)

Why? Taught blockchain course at MIT.

Chris Bummer, Biden nominee for Commodity Futures Trading Commission chief (CFTC)

Why? Edited book on cryptocurrency.

The takeaway is that this is potentially a positive development for those looking to make money with crypto assets.

I'm not sure what you think crypto assets are a financial panacea for the working class; if there is money to be made, wealthy and institutional investors will be all over it.

Yeah they will try to regulate it but hopefully the govt will fail like they did with the war on drugs, war on terrorism, and ofc OBAMACARE.

I don't see how government regulators can be friendly towards cryptocurrency when the whole point of it is to buy shit anonymously without them knowing, if regulators were friendly I be using paypal here. I mean crypto definition means hidden or secret, don't think I need to explain currency lol

Fuck Michael Barr

Fuck Gary Gensler

Fuck Chris Bummer

I don't whether or not past administrations regulators were hostile or not but if they were I fucking love it

Yeah you want the wealthy and institutional investors since they have the dollas unlike the poor and homeless but since the US govt doesn't control the supply they can't bail them out lol, even if for instance ripple massively prints to bail them out the investors will pay for it, we are not forced to accept their currency to purchase goods and have the option to dump those assets.
I also want the wealthy investing in China since a lot of my stocks holdings are there now, US govt can't stop that HAHAHAA
\

 

[Aftermath9716]

Investments in cryptocurrency has been doing well since Bitcoin became the first one in 2008, no need for govt to get involved and ACT like their somehow friendly, the best thing govt can do is FUCK OFF or even better keep blowing the budget with more free bullshit and attack entrepreneurs and blame them for everything instead of the Fed while China is slowly dethroning the US.