Seattle based centralized exchange Bittrex cuts ties with it's fellow Americans. Over the past couple weeks Bittrex customers have hopelessly received a series of emails with the latest few simply stating:
As you have been previously notified, Bittrex U.S. will be ceasing its operations (see our full statement here). All trading for Bittrex U.S. customers will be halted on April 14, 2023, 5pm PDT, and all account access will be disabled at 12pm (noon) PDT on April 30, 2023.
Seattle CEX finds sunnier shores internationally
The first notice of Bittrex's divorce papers were served by email from the CEO of Bittrex U.S., Richie Lai. Lai did anything but lie in his email breakup with his own office directive (the U.S.)
After long and painful deliberation, Bill, Rami, and I have taken the decision to voluntarily cease operations in the United States and put our energy and passion for crypto into making Bittrex Global a success.
~ Richie Lai, CEO, Bittrex U.S.
In a Twitter post, Bittrex's co-founder Lai said it’s
“not economically viable for us to continue to operate in the current US regulatory and economic environment.”
For the full release from Bittrex
For U.S. account holders must TAKE ACTION NOW by closing and emptying your Bittrex accounts. Come back and read the rest of this b.s. later...But for now - follow this link for full instructions on the Bittrex Zendesk:
ALL U.S. crypto exchanges are in a Battle
The BITTERX relationship with the U.S. burns on both ends ---- one end is burnt with U.S. customers and on the other end is continuously under torch by U.S. regulatory agencies like the SEC and IRS. Bittrex is not the only U.S. battle of the CEX's engaged in by the aforementioned authorities. San Francisco headquartered Coinbase has been fighting for clear regulation and law regarding the SEC and the historically compliant CEX has recently filed a petition today in the U.S. Court of Appeals for the Third Circuit for a writ of mandamus, or an order for the agency to fulfill its official duties. Subjectively, they want a clear definition so they can weigh their options in business on a standardized scale.
Right now, Coinbase, is fighting to maintain the staking reward system they currently offer their customers. This comes in lieu of the SEC suckcessfully getting the other S.F. based CEX named Kraken to cancel the staking/earning offering for their fellow Americans. Since taking the staking out of the service platform for U.S. clients, Kraken has been weighing the same decision to continue doing biz in the U.S. or solely continuing do transact off-shore? For most Americans, they may have a "whatever, Kraken." attitude about the company's patriotic loyalty...that would be if they know more about cryptocurrency than "that Bitcoin stuff" or "Do you mean like Dogecoin?".
The Fight for Coinbase and Kraken,
and freedom of offering innovation as an investment to Americans, is simply heading towards a season finale. In the U.S., there are currently not enough positive information sources that garnish crypto ideals with the peer-to-peer decentralized democratic KPI's that should normally make sense to free people. The media is dominated by control mechanisms that eliminate free speak and possibilities of non-historic ways of financial construct. The mainstream media will continue to stifle positive information until control has been restored to the controllers time and time again. Right now, U.S. Senators Elizabeth Warren and Roger Marshall want to ban crypto wallets from existing without undergoing financial surveillance licensing (Anti-money laundering - AML ). In other words, they want eyes on all transactions always everywhere. Save this link and go read for yourself at Cointelegraph https://cointelegraph.com/news/elizabeth-warren-wants-the-police-at-your-door-in-2024
Conclusion: Take your crypto assets off exchanges and Put them on hardware wallets like a Trezor or Ledger. Don't invest money in crypto that you cannot afford to lose completely.
And beware of the changing rules in crypto and under the Securities Exchange Controllers battle with innovative finance.
NOW we switch to strong opinion. This is how I see if anybody really reads these articles. Read the rest at the risk of actually forming your own opinions:
Control thrives on Poverty
The U.S. dollar will not surrender to limited supply currencies that may end up changing the landscape of the impoverished majority. Impoverished maybe as a result of their own doing, but under what upbringing and influences. Who had these people under their influential control for years for over 8 hours a waking day...from 4 or 5 years old to 17 or 18 years old? Before the internet, it was ACADEMIA (teachers, admin, coaches, principals) for the "lucky". For less fortunate it was No school, no education, no influences other than their own family history, neighborhood, and generational poverty.
For the unluckiest it is the generational inherited wealth from oil, pharma, synthetics, monopolies, or whatever else their grandad, daddy, or a timely investment affords them. The unluckiest, better known as global elites, will not accept anything that threatens their entitled privilege. No gap shall be closed and no new game shall be made until the rules again favor the favorable.
For your Entertainment
These thoughts of mine shall not provoke any debate nor retaliation from any elite as the elite hide in secret. If I were to be attacked, then only I would endure the negative effects which would still lie beneath the surface of my own awareness. That's how good the game rules currently work. If Elon Musk took time away to comment on something so trivial as a burn on the elite then it would only shed more light upon the truth that it is all for our entertainment (influence). Musk should be balls deep in SpaceX & Tesla & twitter & pumping Dogecoins. How would he have time to read articles and social media feeds? Easy answer: "he is an entertainer."
This article is an albatross in the blog article world right now as it is being hand typed by yours truly, Christopher Lansford. Today with AI and GENERATIVE Pre-Trained Transformers (GPT) it is said that authentic writing will flourish in Search Engine Optimization or SEO. However, popularity and lack of algorithm strength with still most likely hold back this article from reaching more than a small caucus of traders and some phishing bots. My prediction is that this will not surpass 50 views. (lol)
for reading my conspirational thoughts and opinions. I truly hope you make sound investments and decisions and DYOR (Do Your Own Research) before getting into crypto exchanges or projects without performing due diligence to assure they are a good fit for you as a customer in your geographical location. If you notice on your transactions, at least in Bittrex, they know the details of the device in which you perform an authorize a transaction on the blockchain. They report this to everyone that threatens their existence. You have been warned that crypto is safe for those that are safe. It comes with a level of security and transparency that is scary.
If/when blockchain & crypto become the primary sources of data and transactional activity, then it is not little ol' me and most likely 3 months of bills at most worth of livelihood little ol' you that they are trying to lay down control over. They already got us reggies pegged. But crypto and blockchain could play an AWfully big role in actually slowing down the virtual exchange of info regarding to financial transactions of illegal activities like in human trafficking, drugs, weapons, and political/corporate "negotiations". Regulation gives over the data it needs to give over, but it could/should and would stop the bad stuff from happening online too if leveraged correctly and by the correct power. The transparency of the blockchain technology and web3 and beyond data structures should be able to trace the right things...the right size things.
Unfortunately, encryption is encryption. Privacy, when programmable privacy, is the biggest threat to humanity when it comes to crypto. This is where the wrong entities can hide in crypto. Could their hiding spots and can bad data be hacked and brought to light? Who knows, but the fact that encryption exsists urges favor towards privacy, and privacy adds secrets, and secrets add room for esoteric agendas to hide in plain site. Many current blockchains with $100's of million$ of dollars in their blockchain projects & decentralized treasuries (DAO's) provide current ample opportunity for BIG MONEY to move around in plain site. I have said enough. But, follow the money & read through the projects involved with big money projects, and you will see a sea of traffic leading to destinations unknown...at the present.
This BLOG article is definitely not trading, legal, financial, tax, or any other type of unsolicited or solicited advice. Just facts and opinions intermingled like most things on the internet. Do your own research and only risk money that you can afford to lose if you participate in open market trading or investing in digital products such as derivatives and spot currencies.