Wanxiang and Prometheum
This blog post examines the Wanxiang and Prometheum case, in which the US government has chosen a no-name company to be a model of compliance. It discusses the unsettling nature of people quickly jumping to conclusions without understanding why something is wrong.
Tay 💖
dont believe their lies
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Alright so this turned into something and now my feed has far to many "omg vitalik's involved with wanxiang!?!" tweets???
— Tay 💖 (@tayvano_) June 15, 2023
It's super unsettling to see people latch onto THING = BAD and then repeat shit ad nauseum without understanding *why* something is fucked up. https://t.co/DVTfvDip1v -
The only reason this Wanxiang thing is even relevant with regards to Prometheum is because THE UNITED STATES is holding Prometheum up as a best-in-class, fully compliant, "this is how you do it" company.
— Tay 💖 (@tayvano_) June 15, 2023 -
The UNITED STATES GOVERNMENT has chosen this no-name company that's completely surrounded by everything from straight up pump n dumpers to fraud to unusual investors to unusual fundraising structures.
— Tay 💖 (@tayvano_) June 15, 2023 -
THE US GOVERNMENT has specifically chosen this sham company OVER good-faith, long-standing, widely-used, US-based co's like Kraken and Coinbase.
— Tay 💖 (@tayvano_) June 15, 2023
In fact, they have engaged w/ Prometheum while blocking, attacking, suing Coinbase and Kraken. They've put Prometheum *ahead* of them. -
Like, you guys realize that Prometheum doesn't have a product right?
— Tay 💖 (@tayvano_) June 15, 2023
They are basically one of the thousands of failed ICO projects that went away in 2018 then popped back up late af into this bullrun trying to cash in again.
Theyve shipped NOTHING in 6 fucking years. -
The US GOVERNMENT should be focused on empowering, helping, growing, and protecting US interests and US citizens.
— Tay 💖 (@tayvano_) June 15, 2023
Of course they can and should do other things, but it's fucked up when they empower, grow & protect foreign interests & scammers WHILE ACTIVELY DESTROYING U.S. ONES. -
Vitalik, nor Ethereum, nor the EF have ever claimed that their goal is to further US interests. That would be preposterous.
— Tay 💖 (@tayvano_) June 15, 2023
The only thing more preposterous would be if they had and *then* they strategically worked with Chinese groups *instead of* US groups. -
This industry's goal is to break down borders and empower individuals, not empower existing regimes and break down individuals.
— Tay 💖 (@tayvano_) June 15, 2023
If you want to take issue with something someone is doing for going against those things, then do that.
But you're not.