Apparently , US Senator Cynthia Loomis just asked the Department of Justice to criminally charge Finance and Tether for facilitating transactions to the bad guys.And this is all due to that Wall Street Journal article that came out indicating that crypto and Bitcoin was created just to fund bad illicit. I want to remind you guys, couple things here.First and foremost, the first mint of Fiat, the dollar was done and I think like 1794.So that's like 2-3 hundred years of like illicit transactions being done with something you can't track, something you can't track.Yeah, it's got the cute little serial numbers on that.But you really can't do that as like a person, as a civilian, OK?And then we have this thing called like Bitcoin.Crypto was created like out of 2008, so a little bit, you know, under 20 years.But you can 100% track this because it's all available on the public blockchain.You can see all this outside of privacy coins, OK?So you can see all this public information.So essentially, crypto and Bitcoin actually helps you catch the bad guys and helps you catch when bad things happen.
So that being said, this Wall Street Journal article cited incorrect information.This person published incorrect information and will not retract it and it was like 99% incorrect.In addition to that, what was it like 100 or 20% of Congress signed off on the letter from Miss Warren, like indicating like, yes, we agree with her even though this information is not real or not true or mostly untrue.So we had that happen today, but Miss Senator Cynthia Loomis wants to go after Tether and BINANCE again.I'm not saying they're 100% innocent.I'm not saying they don't catch every bad transaction.They, you know, whatever, because nothing is 100% perfect, OK?
There's bad actors in every industry.But what I'm saying here is I do know that Binance does have a compliance team. I want to say it by the NYAG and had to like show proof of reserves and do all that type of stuff. And both companies, even though they're not perfect, again, not saying they're perfect, I'm simply saying they have actually stopped bad transactions from happening.OK, but I've got a question for Miss Loomis.JP Morgan paid a $70 million fine to settle the JE ties.He did really, really bad things to like innocence, you know, and the T word that happens and it's still very much happening in America today.OK, very, very much happening.And a lot of this is facilitated and funded with U.S.dollars because guess what, you can't track it.
But what I find is very interesting is $75 million fine to settle.And it was even less than that because they actually donated some of those proceeds for the 70 million dollars, $75 million to organizations that help survivors.The interesting thing about that is a lot of those organizations that claim to help specific people, they were created by the people that are doing that type of stuff.And if you don't blame me, go ahead and research it.
So currently JP Morgan, and this is just Googling it up because again, idiot on the Internet here.JP Morgan has a net worth of four point or excuse me $408.12 billion as of October 24th, 2023 and their market cap has increased 25.16%.And I'm just going to do another quick Google search because again idiot on the Internet here I googled how much how much an assets does JP Morgan manage manage $3.9 trillion in total assets that JP Morgan Chase manages and they're the 5th largest banking institution by assets in the world.The firm operates the largest investment bank in the world by revenue.So we're good friends over at JP Morgan that facilitate transactions and I want to say their coin just dropped too. I want to say their coin just dropped and they just processed 1 billion worth of transactions on their private blockchain.
So not only are these guys facilitating bad transactions, keen and other bad illicit stuff harming innocence, but they now created a private blockchain.So while we have these people doing horrible bad things and facilitating transactions, accepting money and compensation from public servants, they're going after Binance and Tether right now for incorrect information.That was proven to be incorrect because you can track everything out of blockchain because it's public, it's open, people can see it.This is the problem facing in the world is that we're going to continue to get attacked in crypto because you can track it, it's all public.
But they're going to manipulate this narrative and make you think that crypto is bad.When in reality, in reality, you can actually use crypto and Bitcoin to track the bad guys and to find out what they're doing.Public servants are absolutely atrocious.There should be term limits and they should not be allowed to invest, trade or accept any types of lobbying money.Thanks
