The US Politician lied about Bitcoin, It's just an all-out crypto hate campaign. They're circling the raglans around the US dollar. President Biden tweeted more silly lies and misinformation about crypto. This time lying and saying that there's some kind of magical tax loophole that exists for crypto. The loophole that are worth apparently 18 billion dollars in missed tax Revenue. You see the trouble with this statement though not true. When investors sell virtual currency they must pay tax on any capital gain that has happened much like they would with property, there is no evidence of any loopholes to avoid this. More bad policy from the Biden Administration is like their proposed 30 Bitcoin mining tax.
Then we had this gross leaked memo coming out this was sent out to Democratic Party Committee members that contain talking points for them to repeat right coming from the central hive mind. The key point here is that they need to support the SEC without question except for their Authority. They also need to say that almost every cryptocurrency is a security. They also needed to repeat that the SEC is protecting investors from harm which is a complete freaking lie. The SEC has done nothing to protect investors from harm in fact they ignored the worst possible frauds in the industry. They cozied up with Sam Bankmanfried and with FTX they all took money from them. While at the same time, the SEC has gone after companies they're trying their best to play by the rules.
Companies like Kraken, and companies like Coinbase, they're criminalizing staking, it's wrong. They're making sure as well that U.S investors are not allowed to invest in pre-sales or an IPO's. They want to raise the accredited investor limits up to 10 million dollars because too many people get rich. The SEC exists to protect the bankers it's a big joke, the political prostitutes have been bought off by the Banks and they do what they're told when they're told to do it.
Crypto's empowering people, crypto is giving people the tools they need to liberate themselves from crumbling Fiat currencies in Central Bank Insanity. When crypto companies innovate on money, well that's bad that's bad. When the US government prints money, when they debase your savings, when they destroy your economy, make you lose your job, and all that fun kind of stuff. That's fine and that is have the US government see it.
Rumors started spreading that the US government's 31,000 Bitcoin that They confiscated from SilkRoad was on the move again being sent to exchanges to be market sold and crashed the markets. The government already said yes we're going to be selling that Bitcoin in four Lots over the rest of the year. They already sold one lot of the five they're planned and they have 4 more sales to go. 31 000 Bitcoin is not even that much in the grand scheme of things. It's even less when you consider it's gonna be sold in 4 different lots.
The market can easily absorb a few cells of like 8 000 Bitcoin. Perhaps a more worrying trend that we should be paying attention to is that miners outflow is reached an 11-month High. The last time the outflows from miners were this high was when Bitcoin dropped from 30,000 to 19,000 dollars in just a few days. But do consider that this doesn't necessarily mean the Bitcoin is going to exchanges to be sold. It's simply flowing out of the minor addresses one thing to keep in mind also. Bitcoin fees them pretty damn insane recently so miners are making much much more than usual giving them more profits.
Jane Street and Jump Capital are both exiting U.S. markets due to fears regarding the SEC which is pretty logical. Jane are a major major market maker in the cryptocurrency industry and that's the rumor that we heard the other day that a big Market maker was selling. It seems these huge players are actually packing up shop and moving their businesses abroad or at least you know closing up the U.S. portions.