Now, a similar play is being run in the crypto space. The FTX collapse was engineered from the get-go. It was an inevitable outcome of the crypto exchange platform which primarily functioned as a slush fund money laundering operation to fund Democrat election campaigns as part of the 2022 mid-term rigging ops.
Now that FTX has collapsed -- an event that was engineered into the company's operations from the very start -- the calls for heavy-handed regulation are emerging right on cue.
"A hammer is going to fall on crypto exchange FTX. The question is how heavy it might be," writes CoinDesk.com:
...[S]everal state and federal agencies launched or expanded investigations into the company, including the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the Securities Commission of the Bahamas and the Bahamas’ Financial Crimes Investigation Branch. Members of the U.S. Congress from both political parties are also calling for further action as a result of the collapse.
This heavy crypto regulation is, no doubt, already written and ready to introduce into legislation. They just needed a large-scale implosion event to evoke enough public anger to ensure passage of the new regulations.
And virtually the entire crypto industry fell for it. They bought into FTX with zero discernment, just handing over their crypto (and keys) to a fraudster who was setting up the entire industry to be brought down by government regulation. The entire house of cards was built on hype, social justice bullcrap and marketing propaganda, yet very few people had any idea they were being suckered into a crypto trap that would annihilate their crypto savings.
John Perez saw this coming. So did I. I warned about this in 2018 with a hilarious animated video call "Sh#tcoin and Buttcoin." You can watch that video at this link (explicit).
Yesterday I interviewed John Perez as I hosted the InfoWars Sunday show. That full interview, which exposes the full story in all this, is now posted on Brighteon:
With these new regulations, the US government will effectively be going to war against whatever crypto exchanges and assets it can't otherwise control. The timing is impossible to miss, as there is widespread action under way for the government (and attached central banks) to introduce its own digital currency. Known as Central Bank Digital Currency (CBDC), this project would enslave the masses into a financial surveillance system that would track every purchase and could instantly penalize people for dissenting speech. The system could even prevent individuals from spending too much money on food, gasoline or other categories of retail items such as firearms or ammunition.
The government hates competition, so it needs a way to take down most of the crypto universe and clear the slate for the launch of its own digital currency system (which likely won't use blockchain and won't be decentralized, obviously). The FTX collapse was the perfect ploy to bring in the kind of government regulation that would strongly disincentivize ownership of crypto and cause values across the ecosystem to plunge.
After all, if crypto is large outlawed -- at least as currently structured -- who's going to want to buy in?
Government regulations are almost certain to target crypto exchanges that offer interest earnings for token "staking" (lending your tokens to the exchanges). Over the last several years, crypto exchanges have offered obscene earnings promises for token staking, ranging from 8% to 50% annual returns. All you had to do was turn over your crypto to them and then trust that they knew what they were doing with it. In reality, they were turning around and making even more risky bets with your crypto, creating mountains of systemic risk that the original users had no idea even existed.
Once new regulations outlaw crypto staking "earnings," it destroys one of the primary incentives for people to buy and hold crypto (hodlers) in the first place. Expect a massive sell-off immediately following such regulations.
Secondly, privacy coins are likely to be targeted with efforts to outlaw them in the USA, thanks to government claiming "criminals" use them (as if criminals have never used US currency, somehow...). This means that some of the best coins out there -- like Monero -- could suffer tremendous regulatory pressure and might have to be traded like contraband, should any users decide to continue using them. Personally, I think Monero is one of the best-structured coins in existence, vastly superior to Bitcoin in all sorts of ways. But that doesn't mean it will survive the regulatory attack that's coming.
Thirdly, KYC rules will likely be universally required for all crypto transactions that move through exchanges, eliminating any remaining privacy or anonymity from crypto transactions (except for private transfers, which of course is where the crypto ecosystem will migrate once these new laws come down). The fact that crypto once offered some measure of privacy helped give crypto currencies more inherent value. If that is taken away, far fewer people will see the value in using them. Prices will trend downward as a result.
The entire crypto space is about to get its clock cleaned. Then again, on the bright side, once all the fraudsters and con artists are cleaned out of the system, the remaining players (and coins) might actually be well positioned to help foster global transactions in the years ahead. But like I've always said, a successful cryptocurrency is one that's also boring in terms of its price. We need price stability, not speculation and hype, for crypto to achieve global adoption as a transactional backbone.
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