A bull run doesn't seem healthy for crypto!

It is funny how this entire sub has gone insane after a pump from the start of the year. It is like all the lessons from last year mean nothing. Here are some basic observations about the level of craziness with this sub.

FTX, Celsius, etc. taught everyone a hard lesson to not allow centralized institutions to commingle users' funds. When SEC issued a Wells notice to Coinbase, most of you just took up your pitchfork and didn't bother to think why Coinbase was served this notice.

The notice includes a warning to Coinbase about its Earn product. Coinbase claims its Earn product pays users the staking reward completely on-chain. But, you could instantly unstake assets like Atom, Algorand, Solana, etc., which have unstaking periods. How is it possible that Coinbase allows instant unstaking when it is not possible on-chain? Where is Coinbase getting the funds to pay out users who can unstake on demand? Is Coinbase paying out from its own treasury or using other users' liquid assets to pay out unstakers' withdraws? What if there is a mass withdrawal, are we going to get a freeze on withdraws as they did with USDC? We shouldn't allow these centralized entities to play with fractional reserves just so they can provide convenience to attract customers.

Coinbase should know better than to not do this. You don't need the SEC to tell you. Saying SEC is not providing guidance is a cope out. They should have never allowed instant unstaking of assets if it can't happen on-chain. We should be glad the SEC pursued this case. It messages any minor offense of commingling of funds shouldn't be tolerated. Yet, all of you tribal chimpanzees can't even process this nuance and slam SEC without a second thought. I know many of you just want pumps and bull runs at any cost. Well, F()CK YOU DEGENS! The last thing we want is to repeat the mistakes seen last year and let all the crooks come back again. This industry needs a lot cleaner standard before we lure in newcomers to be new victims in the next bull run.

Then there is all the clamoring for US banks to fail and experience bank runs! F()CK YOU AGAIN - YOU SELFISH PRICKS! It will destroy so many ordinary people's lives and DeFi. If all these banks go kaput, USDC reserves and Tether reserves (if there are any) would be gone and bring massive chaos to the crypto DeFi world. The aftermath would be much worse than UST's collapse. So many crypto projects' funding would be gone and crypto assets would be dumped onto CEX as they flood out of DEX pools paired with stables.

BTC just pumped 60%-70% and the community has gone to support insane ideas wreaking havoc in the long run. The bull run should be postponed until people have more senses or else who knows what new Frankenstein will be birthed.