When Crypto is rebuilt after this cold winter, companies like Three Arrows will not have a place; Bitcoin drops to $ 20,000

“I have seen a lot of speculation about BlockFi’s risk management practices that I want to address. Although our policy is not to comment on specific counterparties, we are committed to providing as much transparency as possible, and it is important to know the following:” (BlockFi boss Zac Prince) … “Spot ETPs have launched in other countries without incident and with great investor interest. In Canada, for example, the first spot bitcoin ETP reached $ 1 billion in Canadian dollars in total assets one month after its launch in 2020. .[1[ads1]7] Spot crypto-ETPs are also popular in Europe, where there are more than 70 crypto-ETPs with an estimated $ 7 billion in assets.[18] ETPs in these other jurisdictions have functioned, even in volatile markets. Why is the SEC a holdout? At what point, if any, is the growing maturity of the bitcoin spot markets and the success of similar products elsewhere tipping the scale in favor of approval? Of course, the facts and circumstances of each application are important, but will I ever stop hearing the tired question: “When to spot bitcoin ETP?” (SEC Commissioner Hester Peirce in a speech June 14) … “interview today, asked if BTC can scale for payments for transparency, my answer: 1) BTC can certainly be a means of payment, on lightning, L2, or packaged 2 ) The BTC chain is not meant to scale to millions of TPS, so global payments will not be directly 3) bullish on blockchain payments. ” (FTX CEO Sam Bankman-Fried / Twitter)