We’ve had a few good calls and timely posts, but few more prescient than the April 21, 2021 If Bitcoin is a house of cards, then Coinbase is the clarion bell on the top of the house about to crumble post https://www.theinsidersfund.com/2021/04/coinbase-if-bitcoin-is-a-house-of-cards-then-coin-is-the-clarion-bell-on-top-of-the-house-about-to-crumble/

Insider selling is not as good a predictor of future stock performance as insider buying, but when the selling comes in droves, I call it “rats leaving the ship.” That’s precisely what the Coinbase IPO was, rats leaving the ship

What amazes me is that crypto enthusiasts clamor for regulation as the panacea for their woes.

I think it makes sense to have a global currency impervious to government confiscation and debasement from the printing press.  I’m sure Russia must feel that way after the US and its allies froze $300 billion of their currency and gold reserves. You can be sure China is as hesitant about the trillions of dollars denominated debt they hold as a US-led military response in Taiwan.  We’ve weaponized the dollar, and rogues and thieves are paying attention.

What doesn’t make sense is to say that regulation by the government will cure the current crypto collapse. You can’t have it both ways. If you believe in regulation and trusted authority, there was never any point in creating a Defi, an independent cryptocurrency and decentralized financial system, in the first place. It’s just been an incredible scam, a waste of time and resources of the most immense proportions in history.

One unintended winner of this debacle could be the CME Group. Bitcoin and Ether have been determined to be a commodity. As the leading commodities exchange, it should be the ultimate exchange where Bitcoin and Ether will be traded on.  I doubt if that is what prompted Director Shepard to buy $8.2 million worth of CME stock on November 8th but it could be one of the truly amazing fortuitous consequences. However it shakes out though CME looks like its poised to go higher.