Re:Spot Bitcoin ETF receives official approval from the SEC
by aurareturn on Wednesday January 10, 2024 @10:47PM
(#38947310)
That's just wrong.
At least with SPACs, they're securities and you can see their finances before you invest. They're also regulated by the SECs and audited.
With the vast majority of crypto, people who start them don't intend for them to be useful. People who start them intend to scam retailers. That's it. They make up a shitcoin, throw flashy parties, spend on marketing, and then sell their shitcoin on retail. Retail knows it's all a scam too but it's a game of musical chair.
At least with SPACs, they're securities and you can see their finances before you invest. They're also regulated by the SECs and audited.
With the vast majority of crypto, people who start them don't intend for them to be useful. People who start them intend to scam retailers. That's it. They make up a shitcoin, throw flashy parties, spend on marketing, and then sell their shitcoin on retail. Retail knows it's all a scam too but it's a game of musical chair.