Today's Bitcoin Brief:
• Jane Street hit with federal lawsuit as BTC surges 10%
• UBS models $300B in losses if AI triggers private credit blowup
• SocGen's Albert Edwards: "The AI macro doomsd...
Question for your crew:
If it is determined that Jane Street has been manipulating the price of bitcoin, and creating billions in losses in liquidating cascades and lost hodler value, but that manipulation has been done by taking advantage of loopholes which are not well defined or illegal within existing law:
Should the market regulators:
A: define those loopholes and close them immediately
B: open an enormous, almost unlimited “loophole exploiters only” area where they and other market makers can continue to create paper bitcoin and other spoofing strategies to distort the market and kill the inelasticity of Bitcoins fixed cap 21M supply
If it is determined that Jane Street has been manipulating the price of bitcoin, and creating billions in losses in liquidating cascades and lost hodler value, but that manipulation has been done by taking advantage of loopholes which are not well defined or illegal within existing law:
Should the market regulators:
A: define those loopholes and close them immediately
B: open an enormous, almost unlimited “loophole exploiters only” area where they and other market makers can continue to create paper bitcoin and other spoofing strategies to distort the market and kill the inelasticity of Bitcoins fixed cap 21M supply