It's a long-simmering annoyance at the decline of the cryptocurrency ecosystem: from the really cool technology underlying Bitcoin, to exciting whitepapers with different solutions to hard problems on other coins, to intractable whitepapers designed to create hype for coins that do nothing, to the clear creation of exchanges as places to gamble, to the sidelining of anyone in the cryptocurrency world trying to solve any problem other than "get rich quick", to the collapse of FTX.
All through it the definition of a security has been clear, but Coinbase et al has pretended that the issue is "regulatory clarity" and not "we are operating as a fking unlicensed securities exchange in the USA bro".
Very rarely a cool use case for cryptocurrency will come up, but the marketing is now entirely "invest and make money!", which is some combination of tedious and scammy, depending on who it's coming from.
That checks out. I got out of crypto a long time ago, back around when people were creating doge based coins for a laugh, i can imagine it only got a lot worse.
All through it the definition of a security has been clear, but Coinbase et al has pretended that the issue is "regulatory clarity" and not "we are operating as a fking unlicensed securities exchange in the USA bro".
Very rarely a cool use case for cryptocurrency will come up, but the marketing is now entirely "invest and make money!", which is some combination of tedious and scammy, depending on who it's coming from.