corban on Nostr: I’m starting to see a ramp-up of integration of sketchy crypto services and ...

I’m starting to see a ramp-up of integration of sketchy crypto services and financial instruments that used to be pretty isolated to the crypto-space, get integrated into the mainstream financial sector.

For example, E*Trade is advertising crypto on their homepage, and Zac Prince and Pompliano are back from their BlockFi disaster with a similar offering via GalaxyOne. Still sketchy, but somehow they’re backed by FDIC now. 8% yield on stablecoins never has and never could go wrong, right? (Micro)Strategy is no exception.

Having been around town a for a little bit now and seeing the cycles of grift and corruption, I have started to theorize about what’s happening and what’s to come. Obviously, there’s grift brewing - Trump and his cronies are leaning into the scams and grift in the crypto-space, so I expect that to proliferate while he’s in office.

But I have a working theory that this integration of sketchy crypto into traditional, FDIC-backed finance is a purposeful, planned demolition of parts of legacy finance before the Hegelian “solution” sweeps as CBDCs. People like Epstein manipulated markets just like this and profited on the swings.