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Robinhood's Brand Fake vs. PayPal's Crypto Corruption
by Gunnar Larson 18 Nov '23

18 Nov '23

https://thecapital.io/article/robinhoods-brand-fake-vs-paypals-crypto-corru… Graduate research conducted over the last five years by preeminent global industry scholars, who embody a strong sense of integrity and pride in the social importance and credibility of good institutional design, tease out the following incidents. With friendly intentions, there is no way out of us moving forward. Corruption occurs when the private search for economic advantage and personal advancement clashes with laws and norms that condemn such behavior. Further complicating the picture, some illegal corrupt transactions drain public resources away from education, health care, and effective infrastructure—the kinds of investments that can improve economic performance and raise living standards for all. It is easy to prove Robinhood Markets (the financial services company) is a brand fake. Perhaps even more significant, there is no reason to think that PayPal, one of the more convenient and commonly-used online payment methods out there, will behave any better given their clear anti-cryptocurrency policy history. Paypal will likely further exploit their monopoly position and risk undermining a pure environment that maximizes the socially beneficial conditions of virtual currencies. Our estimation strategy so far has been predicated on the assumption that political and legal institutions affect sustainability directly and that the effect of corruption can be estimated conditionally on the institutional context. As we previously reported, it is perhaps no coincidence that the systemic risk to cryptocurrency and blockchain systems are tethered to activities of BitLicensees. The cost of corruption is greater than the sum of lost money: distortions in spending priorities undermine the ability of the state to promote sustainable and inclusive growth. This is possible in a framework already characterized by "weak law" that creates both a certain alteration of the rules of the market and perverse dynamics distorting the economy and inhibiting free competition. Robinhood’s Brand Fake The legend of Robin Hood portrays a man who robbed the rich and gave to the poor. His partisanship of the common people and his hostility to the Sheriff of Nottingham branded Robin Hood as one of the world’s best known folk heroes. According to a Forbes investigation earlier this month, despite its proclamations about democratizing finance, Robinhood's entire business has been built since its inception on selling its customers’ orders—known as “payment for order flow”—to Wall Street’s most notorious sharks, accounting for 70% of its $130 million in revenue during the first quarter of 2020. Robinhood’s SEC civil fraud investigation more or less points out the essence of potential brand fakery. A Robinhood spokeswoman declined to comment on the investigation or any talks with regulators, but stated: “We strive to maintain constructive relationships with our regulators and to cooperate fully with them.” PayPal’s Crypto Corruption The heads of enterprises must curb corruption by setting a clear tone at the top. A statement from the founding CEO of Paypal Holdings Inc., Bill Harris, described Bitcoin as a “scam” and a “colossal pump-and-dump scheme”. “I’m tired of saying, ‘Be careful, it’s speculative.’ Then, ‘Be careful, it’s gambling.’ Then, ‘Be careful, it’s a bubble.’ Okay, I’ll say it: Bitcoin is a scam,” he wrote in June 2019. Later in October 2019 Fortune asked PayPal’s current CEO, Daniel Schulman if he could share some details of the projects Paypal is working on. However, he replied: “Yes and no. Some of this is competitive, and we don’t really want to,” but noted that what Paypal is working on is “not necessarily competitive with Libra.” Emphasizing that cryptocurrency is “still very volatile,” the CEO revealed, “we don’t have much demand for it by merchants because merchants operate on very small margins.” He continued: “Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.” PayPal’s fundamental longtime assault on the crypto industry policy was to freeze user accounts connected with any cryptocurrency-related activity. While some people may consider this to be borderline illegal, the company can close user accounts or freeze funds for extended periods of time whenever they feel the need to. In less than a year, everything changed for PayPal with the October 2020 announcement of achieving another regulatory first: through Paxos, PayPal has been granted the first virtual currency conditional license from the New York State Department of Financial Services. It seems that PayPal’s dance with “regulatory arbitrage” now engages the ability to provide crypto to their customers. Turn this matter as we will, and look at it from any side whatsoever, and it presents the appearance of anti-competitive behavior. PayPal’s deception and corruption in building its crypto business infrastructure now acts as a cartel sponsored by regulators. PayPal forbids user access to their own private keys. What’s more, users will not be able to transfer their crypto holdings out of their PayPal account, nor will they be able to send crypto to other PayPal users. In other words, PayPal more or less dictates what users can do with their cryptocurrencies, and could presumably freeze accounts if they see fit. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks. Note, however, that this potential monopoly could arise not from corruption but simply from a revenue-maximizing government that does not factor in the social benefits of competition or of effective natural monopoly regulation. Second, the hope of corrupt gains might lead government officials to privatize the wrong firms. That is, regulators may grant license(s) to firms that are operating at a high level as state firms and so appear valuable to private markets. Universal BitLicense Declaration People should not be presented with their only option being a binary choice between inclusion and giving up their data and privacy OR non-participation, exclusion and privacy, thereby effectively becoming a modern day 21st century outcast. The obvious consequences on the emotional level are often associated with economic risks, often linked to the obligation in respect of some banking institution or regulatory body from which the entrepreneur is required to interact. The basic mechanism of embeddedness is the “protection.” It may take different forms: the protection/extortion mechanism, which concerns the regulation of licit and illicit economic activities; the patronage mechanism, which involves the distribution of goods or services in exchange for votes, goods, services or other benefits; or the brokerage mechanism for the resolution of disputes. The protection function concerns, in general, all those activities which involve the maintenance of the order and the exercise of authority within a territory. On the contrary, the mechanisms of infiltration are: the management of trafficking, the money laundering in legal economic activities, and the interception of public funds. If the basic problem is monopoly power, policy should address that issue directly. If the problem is a lack of transparency and accountability in government activities, one should find ways to open up the public sector to oversight from outsiders. If the problem is an opaque and confusing regulatory structure, rules should be simplified and clarified. 90+ days from initial submission to begin “Conditional BitLicense” review: New York is not supported by a good faith argument for an extension, modification of or delay of granting “Conditional BitLicense” approval specific to review and consideration for approval of any reasonable version of the proposed “Universal Declaration on Virtual Currency & Human Rights.” Where the superintendent makes a determination that a regulated group has engaged in or is engaging in any of the practices outlined, the superintendent is empowered to issue appropriate Declarations pursuant to innovation and mandates clarification. Such orders may be issued without the necessity of a complaint being filed by an aggrieved person. Following the official announcement of New York’s conditional licence framework, we have submitted various communications that outline our clear ambition and intent to earn “Conditional BitLicense” and other approvals. - to save succeeding generations from financial fraud and corruption, which in our lifetime has brought untold sorrow to humanity, and - to reaffirm New York’s faith in fundamental human rights, in the dignity and worth of the human person, in the equal rights of men and women and of nations large and small, and - to establish conditions under which justice and respect for the obligations arising from BitLicence regulation and other sources of financial services law can be maintained, and - to promote larger social progress by leading global standards, given that New York remains the center of technological innovation and forward-looking virtual currency regulation Nothing in this Declaration may be interpreted as implying for any State, group or person any right to engage in any activity or to perform any act aimed at the destruction of human rights or degradation of the BitLicense’s virtual currency statute or mandates set forth in this Declaration.

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Fwd: [OpenRecords] Request FOIL-2023-836-01074 Submitted to Department of Finance (DOF) 2022 New York City Pension/Investment Management Asset Performance
by Gunnar Larson 18 Nov '23

18 Nov '23

---------- Forwarded message --------- From: <donotreply(a)records.nyc.gov> Date: Sat, Nov 18, 2023, 3:15 PM Subject: [OpenRecords] Request FOIL-2023-836-01074 Submitted to Department of Finance (DOF) To: <g(a)xny.io> Your request FOIL-2023-836-01074 has been successfully submitted to the Department of Finance (DOF). The details of your request are shown below. Request Title: 2022 New York City Pension/Investment Management Asset Performance Request Description: While surveying 2022 New York City Pension/Investment Management Asset Performance, xNY.io - Bank.org noticed an overall negative return for the five systems referenced here: https://comptroller.nyc.gov/services/financial-matters/pension/asset-perfor…. xNY.io - Bank.org seeks access to any and all records explaing 2022 New York City Pension/Investment Management Asset Performance as a loss for all five funds. Comprehensively, the mechanisms for garnering public equity are easily understood and easy to execute. An advantage for public equity is its liquidity as most publicly traded stocks are available and easily traded daily through public market exchanges. Related to New York City Pension/Investment Management Asset Performance, public equity investments do not include individual stocks under "asset type" and "asset name." xNY.io - Bank.org would like to receive record if the five systems owned PayPal (PYPL) as an individual investment as part of fund investment across the systems between FY 2020 and 2022. Additionally, xNY.io - Bank.org seeks trading history ststements of PYPL across the five systems between FY 2020 and 2022. -- Gunnar Larson xNY.io - Bank.org MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-917-580-8053 New York, New York 10001 Requester's Contact Information *Name:* Gunnar Larson *Title:* Co-Founder *Organization:* xNY.io - Bank.org *Email:* g(a)xny.io *Phone Number:* (917) 580-8053 *Fax Number:* Not provided *Street Address (line 1):* Not provided *Street Address (line 2):* Not provided *City:* Not provided *State:* Not provided *Zip Code:* 10001 You can view the request and take any necessary action at the following webpage: https://a860-openrecords.nyc.gov/request/view/FOIL-2023-836-01074.

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Secret lost language ‘unlike any other written text’ that no one can read found on 3,000-year-old clay tablet
by jdb10987＠yahoo.com 18 Nov '23

18 Nov '23

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Fake crap cypherpunk, Buttface in the shit!
by pro2rat＠yahoo.com.au 18 Nov '23

18 Nov '23

Another dead-in-the-water carpetbagger. Very Assange. “Vitalik & Lubin are vicious if they have leverage. Lubin said to me in July 2018 about a network “It’s a centralized piece of sh*t” right after the Hinman speech! They stay silent because I’ll drop more receipts,” Nerayoff stated. FROM https://www.newsbtc.com/ethereum-news/ethereum-insider-eth-founders-fraud/ Reposts not pop-gunner reports out of Mike Bloomberg's arsehole

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US Says Hamas Must Release Hostages for Gaza to Get More Aid
by Gunnar Larson 18 Nov '23

18 Nov '23

We are not trying to organize a hostile takeover of X.com ... However, we are still Waiting patiently for New York State Attorney General James on the New York Human Rights request. --- Hamas must release more hostages in return for a significant increase in aid to Gaza and a pause in fighting, one of the US’s top Middle East envoys said on Saturday. US Says Hamas Must Release Hostages for Gaza to Get More Aid https://www.bloomberg.com/news/articles/2023-11-18/us-says-hamas-must-relea…

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CARS, CRYPTO AND A HORSE NAMED CINDA: INSIDE AMERICA’S SEIZED ASSET AUCTIONS - Rolex Watches, Bitcoin Fetch High Bids at Seized Asset Auctions
by Gunnar Larson 18 Nov '23

18 Nov '23

Every year, the US Marshals Service seizes tens of millions of dollars’ worth of fun collectibles and fast rides from criminals, and then lets the general public do some bidding. Bloomberg Businessweek’s sleuthing revealed some intriguing sales. By Michael Tobin and Amanda Chen Illustrations by Melanie Lambrick November 17, 2023 at 6:00 AM EST The US Marshals Service is the enforcement arm of the federal courts. In addition to protecting judges, tracking down fugitives and running the witness protection program, among other duties, the USMS manages criminal assets seized in connection with crimes. This is property used to commit an offense or acquired by a wrongdoer during the act. Rolex Watches, Bitcoin Fetch High Bids at Seized Asset Auctions https://www.bloomberg.com/features/2023-seized-assets-auctions/?ai=eyJpc1N1…

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FBI’s Warrantless Spying on US Must Continue, Says FBI
by pro2rat＠yahoo.com.au 17 Nov '23

17 Nov '23

I Tried To Stop Them! " . . . in a telephone interview and a series of e-mails: To scare people out of working for the government. He refused to admit to any specific threat, to avoid prosecution, he said. He already is charged with making similar threats against police in Australia, according to the Victoria Police in Melbourne. Saying that his real name was Matt Taylor and that he was 48 years old, Professor Rat said he promotes a theory called Assassination Politics that emerged at the periphery of cyberanarchist circles in 1997. The concept is that of an online lottery in which people bet on a date that public figures will die. The implication is that the lottery �winner� likely helped arrange the death. Winnings would be paid in untraceable digital cash, which does not yet exist. The development of digital money, and encryption software restricting government�s ability to monitor Internet activity, are common goals among the online anarchists and libertarians known as �cypherpunks.� The ultimate purpose of Assassination Politics is to deter people from working for government agencies, corporate media outlets or institutions �beholden to the violence of the state,� Taylor said. Professor Rat also has threatened a University of Ottawa law professor, a columnist for The Boston Globe and a Cincinnati police officer. Many of those threats were posted to a listserv called Cypherpunks. The e-mail distribution network allows libertarians and anarchists interested in the tension between government oversight and individual liberty on the Internet to discuss those issues via e-mails that when sent to the listserv are distributed to all members. Dorschner would not say whether there was an investigation into Professor Rat, calling the matter an issue of �internal security.� The columnist for The Boston Globe, whose sin, in the eyes of Professor Rat, was to criticize civil libertarians for objecting to the Patriot Act of 2001, said he did not take the threat at all seriously. He learned of the threat only last week, when told of it by The Denver Post, he said. The Post is withholding the names of the subjects of posts by Professor Rat to avoid promoting any specific threats. �The way I see it, this kind of talk is pretty cheap on the Internet,� the columnist said. �This is something I would consider casual hate speech. This person didn�t send me an e-mail saying 'I�m going to kill you.�� But officials in Denver see nothing casual about the statements, Dorschner said. In an interview, Taylor taunted the Denver officials named in the April 8 statement. �They�re welcome to come and get me extradited,� he said. �Here I am. Come and get me.� The Cypherpunks listserv is also where Jim Bell, an MIT-trained chemist and Washington anarchist who now is in prison for interstate stalking of federal agents, unveiled his Assassination Politics. He was convicted in 2001. Federal prosecutors in Seattle that year also won a conviction against Carl Johnson, a Canadian man accused of threatening federal judges and Microsoft founder Bill Gates by e-mail. Later in 2001, Thomas Wales, a federal prosecutor in Seattle, was shot to death. Though his death was noted on the Cypherpunks listserv, no connection to Assassination Politics has ever been made. The case remains unsolved. John Hartingh, spokesman for the U.S. attorney�s office in Seattle, declined to comment on Wales� death. Taylor said his threats are intended solely as a rhetorical deterrent. �No one has to die,� he said. �All that has to happen is for people to accept the system.� If anyone Taylor threatened ever was assassinated, �I would totally reassess my involvement in it,� he said. �It would totally change the whole situation. Basically, I�m a nonviolent person.� The posts made by Professor Rat fall under a relatively new category of crime known as �cyberstalking,� said Jim Doyle, a retired New York City police sergeant who now works as a cybercrimes consultant for a Connecticut company called Internet Crimes. The statements made by Professor Rat constitute prosecutable offenses, he said. �The bottom line is what the victim feels,� he said. �Is the victim threatened? Is the victim alarmed? Hey, that�s a crime.� Eugene Volokh, a law professor at the University of California-Los Angeles and a First Amendment specialist, said the threats were probably criminal, given Taylor�s description

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FBI’s Warrantless Spying on US Must Continue, Says FBI
by jdb10987＠yahoo.com 17 Nov '23

17 Nov '23

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Women’s Suffrage in New York State
by Gunnar Larson 17 Nov '23

17 Nov '23

103 years ago, after fighting for 72 years for suffrage and there are still tensions on getting those Apple Card records. We have a count clock going, for the women and their money rights in New York State. We won't ask for PYUSD records, because that would tip off X.com :) https://nyassembly.gov/member_files/058/20090226/ On Aug. 18, 1920, the 19th Amendment granting women the right to vote was ratified, 72 years after the struggle for women’s suffrage began.

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Industry Letter - November 15, 2023: Guidance Regarding Listing of Virtual Currencies | TO: All Virtual Currency Business Entities Licensed under 23 NYCRR Part 200 or Chartered as Limited Purpose Trust Companies under the New York Banking Law
by Gunnar Larson 17 Nov '23

17 Nov '23

Finally, FTX and STX have been clarified. If there was ever conflicts, now there is guidance to try and avoid conflicts. No word of NYCCoin, but at least there is new regulatory guidelines from the world’s preeminent crypto regulator famous for ethics and women's rights. ---- https://www.dfs.ny.gov/industry_guidance/industry_letters/il20231115_listin… Introduction In 2015, the New York State Department of Financial Services (the “Department” or “DFS”) issued its virtual currency regulation, 23 NYCRR Part 200, under the New York Financial Services Law. Since 2015, DFS has served as the prudential regulator overseeing virtual currency business activity in New York, granting both virtual currency licenses under Part 200 (“BitLicenses”) and limited purpose trust company charters, to ensure that New Yorkers have a well-regulated way to access the virtual currency marketplace and that New York remains at the center of technological innovation and forward-looking regulation.

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