URGENT Crypto Regulations Explained

"Mr. Biden came out tomorrow and said you can't earn interest on crypto anymore the first thing that would happen is prices would fall very hard and very fast and that would be bad because it would trigger a wave of liquidations or sell-offs and that would drop the price which would trigger another wave of liquidations and sell-offs until we get a price spiral that just keeps dropping the price again and again."

"The biggest threat is will stable coins still be worth a dollar if something like this were to happen because think about it a lot of people joined the crypto space because they wanted to earn interest but if the president all of a sudden announces that people can't do that anymore the first thing that would most likely happen is people would run for the exit as they tried to convert their stable coins for dollars and we would get a run on the bank and that would be catastrophic and here's why if there's not enough liquidity because people are too busy selling everything and no one is buying then it's very possible that the price of a stablecoin drops below what it's supposed to be worth one dollar"

"any new assets that are transferred inside of blockfy will no longer be eligible to earn interest"

"Blockfi says that as soon as the sec approves their registration that's when they can start paying interest again"

"Any new assets that are transferred inside of blockfy will no longer be eligible to earn interest"

"this affects u.s citizens so if you're not a us citizen this does not affect you and everything works exactly the same way but if you are and you do have a block by account that's earning interest then your account will still be fine it's not going to be deleted and the interest you're getting paid right now as far as all of the crypto you have will still continue to be paid"

"This affects u.s citizens so if you're not a us citizen this does not affect you and everything works exactly the same way but if you are and you do have a block by account that's earning interest then your account will still be fine it's not going to be deleted and the interest you're getting paid right now as far as all of the crypto you have will still continue to be paid"

"if you're creating a new account in the future your account will not be eligible to earn interest until block fi applies with the sec and gets approved"

"Also if you're creating a new account in the future your account will not be eligible to earn interest until block fi applies with the sec and gets approved"

"the moment your crypto leaves your interest account you will not be able to move it back to have it earn more interest"

"The moment your crypto leaves your interest account you will not be able to move it back to have it earn more interest"

"what happens if the president says that all forms of crypto lending is some form of a security"

"We have not yet filed or confidentially submitted a registration statement with the sec and there can be no assurance that such a registration statement when filed will be declared effective"

"if something like that were to happen and mr biden came out tomorrow and said you can't earn interest on crypto anymore the first thing that would happen is prices would fall very hard and very fast and that would be bad because it would trigger a wave of liquidations or sell-offs"

"Block fi's misrepresentations about over collateralization are serious"

"will stable coins still be worth a dollar if something like this were to happen because think about it a lot of people joined the crypto space because they wanted to earn interest but if the president all of a sudden announces that people can't do that anymore the first thing that would most likely happen is people would run for the exit as they tried to convert their stable coins for dollars and we would get a run on the bank and that would be catastrophic"

"block fi's misrepresentations about over collateralization are serious"

"in the long term this is not a reason for me to get scared and sell everything because this is a process that crypto needs to go through in order to get there"

"The first thing that would happen is prices would fall very hard and very fast and that would be bad because it would trigger a wave of liquidations or sell-offs and that would drop the price which would trigger another wave of liquidations and sell-offs until we get a price spiral that just keeps dropping the price again and again."

"The biggest threat is will stable coins still be worth a dollar if something like this were to happen because think about it a lot of people joined the crypto space because they wanted to earn interest but if the president all of a sudden announces that people can't do that anymore the first thing that would most likely happen is people would run for the exit as they tried to convert their stable coins for dollars and we would get a run on the bank and that would be catastrophic and here's why if there's not enough liquidity because people are too busy selling everything and no one is buying then it's very possible that the price of a stablecoin drops below what it's supposed to be worth one dollar"

"block fi says that as soon as the sec approves their registration that's when they can start paying interest again"

"we have not yet filed or confidentially submitted a registration statement with the sec and there can be no assurance that such a registration statement when filed will be declared effective the bias have not been registered under the securities act all of this means is that they haven't even filed their application yet and even if they did there's no guarantee the sec would allow it"

"in the short term i'm sure we'll see some market volatility as people wait to see what the president does with his executive order"