Mainstream news outlets are reporting that hackers have hacked Coinbase, reking a ton of people. Good. Maybe people will now begin to understand the meaning of financial sovereignty.
I've been yelling from my corner for months now — that little crap return places like COINBASE give you are not worth the risk. And now more people will see that. If any of you make it here, please recognize that Coinbase is not synonymous with crypto. Coinbase is the worst of crypto. Coinbase the company has always been shady because it's a shadow of its shady founder, who is personally a garbage person.
Hopefully people will also understand how useless government is in this space as well. Even though Coinbase is "fully regulated," it means nothing for the safety of funds. Regardless of how much of a butt buddy Coinbase is with regulators, it means nothing for your money. Getting reamed by the SEC only gives Coinbase more legal permission to take your money without government repercussion if Coinbase fucks up (which they just did).
Super public companies in the crypto space are targets. Honeypots. And now, you'll see just how little the government cares about your money. We'll see how many of these people get refunded and in what time frame. Defi projects that have been hacked often refund people in days. We'll see if the "fully regulated" "100% compliant" Coinbase does that or not. Or if the government steps in to save you. Take notes. If you lose your money on Coinbase, you will get exactly 0 help from the FBI, SEC, BBB, FinCEN, or CFPB. Yet the IRS gets to take 40% of what you make. Hmmm.
Learn defi and get rid of your Coinbase account. You improve your privacy and the efficacy of your financial accounts in total. Then understand that the government that backs Coinbase is just as uesless and detrimental to your life as Coinbase. (They take from you but offer no protection — taxation without representation is what caused 1776). But in the meantime, I'll be drinking the tears of these moron Coinbase holders. Not because I like people losing money, but because the majority of people on Coinbase likely have personality traits I dislike (laziness, greediness, selfishness, centralism).
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