More on the Prometheum GovCorp Shitcoin Trojan scam... A good Private Distributed P2P Crypto Cash does not need their laws, only the Law of Crypto Code... Prometheum is the only SEC-registered crypto securities firm, but have no business activity. There is very strong evidence suggesting they are a government plant/use insider links to abuse current laws and gain a monopoly & deceptively make legitimate crypto firms into scapegoats "breaking the law" by OneThatNoseOne https://www.axios.com/2023/03/06/crypto-register-sec-securities-exchange-com... https://i.redd.it/se1u17ehswbb1.png https://i.redd.it/atsugpoiswbb1.png https://i.redd.it/17cevlakswbb1.png https://i.redd.it/hwj2k8zlswbb1.png https://i.redd.it/2jx8pzhpswbb1.png https://i.redd.it/wzykraznswbb1.png https://i.redd.it/39cdscjqswbb1.png https://i.redd.it/rz5lkwlrswbb1.png https://i.redd.it/t8l65vutswbb1.png https://i.redd.it/v828ddosswbb1.png Virtually everything we have seen out of the SEC is them claiming crypto to be securities and claiming exchanges are then securities exchanges and need to register with the SEC. However, exchange after platform after exchange has complained that SEC is unwilling to provide any regulatory clarity or guidance in how to comply with laws. Further, exchanges, most notably Coinbase actually hold a brokers-dealers license which should allow them to trade securities but however they say there is no way to activate it with the SEC. Thus, registering as a securities exchange is in fact impossible. Now there happens to be one exchange that is indeed registered as a crypto securities exchange however every single detail about this company is questionable. First of all there is no discernable business activity by the firm. This is such that they are registered to trade securities, but do no trading. Part of this is because crypto securities exchanges can only trade registered crypto securities. The problem here is that only 9 tokens have ever been registered as securities, and only one of them can be realistically traded as all the rest are dead or dying with volume that virtual amounts to zero. And the firm owning this one tradable token itself has low volume and has also posted consistent losses every single quarter of its existence which bodes terribly. So basically, the only thing that could save the exchange was if regulators could blatantly label 99% of tokens as securities, as they already have with staking. Sound familiar? But that’s not all. The CCO of Prometheum is a dude named Joseph Zangri. Let’s take a look into this individual shall we? Joseph Zangri happens to have been the ex Global Head of Compliance and CCO for Bloomberg, so we know he has strong ties in TradFi as his history at the national Futures Association shows and lookie here, he previously worked as a Senior Enforcement Attorney at the Securities and Exchange Commission. A very interesting “coincidence”. Also, “coincidental” is the history of another staff member, Rosemarie Fanelli, who worked at the New York Stock exchange, expected Wall Street ties, and guess who else, FINRA, who is yet another financial regulator. ​ A third member of staff John Tornatore also worked at giant financial asset player CBOE in a common thread. There’s something special about these staff here that had connections to FINRA. Mrs. Fanelli(FINRA) joined Promethuem in May 2021. After which, Prometheum managed to obtain their license from FINRA only a 2-3 months later, an extremely quick turnaround in regulatory terms. Companies can be kept waiting for years. They had also scrubbed their webpage and change their roadmap where they initially claimed a genesis block blockchain launch in 2019, which was mysteriously scrubbed in an updated version. At least initially, Prometheum was likely unable to transact crypto securities as it could not clear them. This is because of how poorly current security laws work with blockchain technology such that technically, the blockchain itself is the security clearing agency which clears transactions instantly and current securities law do not make provisions for this. This is also backed by statements by Bloomberg. Later on, in a way I can only describe as somehow Prometheum apparently managed to bypass all these issues. And on the final point, look at how they specifically point out them gaining approval to embarrass and incriminate the rest of the crypto industry. There’s also something weird. Prometheum claimed to have launched an alternative trading system(a less strict securities exchange) back in 2022. The issue is that they only received their SEC approval in 2023. So either they were breaking the law or they launched a product with no business as, once again, a means of deceptively showing crypto firms in a bad light as “could exchange could register and operate if they really wanted to”. But consider this, if the SEC were to blatantly label all tokens as securities, Prometheum would be literally the only firm with the ability to offer crypto for trade. And what do you know, the SEC so happens to have made very similar statements of trying to label and designate all crypto as securities. A great way to kill crypto in the US, and a great way to give Prometheum a monopoly. They even rub all this in your face in their whitepaper/business docs. A total of 9 firms and tokens have registered/complied with regulators and securities laws. Only 1 currently survives, the rest either failed, restructured or were abandoned. And this 1 surviving token reports consistent losses since 2021. The laws simply don't work. Only this year in March for the first time the SEC has provided details on firms what registered or “collaborated” with the SEC and the details. The results however are harrowing. Out of nine firms and tokens, only one still functions as originally intended and even then the business is burning cash with mounting losses. Blockchain of Things, a platform for building dapps, were in operation since 2015 and after almost 8 years shut down in this year of 2023. ParagonCoin, which made a token for weed entrepreneurs, has disappeared. YouNow was a livestreaming company that had its PROPS token. The token was abandoned in 2021. Airfox (Carrier EQ) was fined by the SEC and bought out 2 years later. Enigma MPC “swapped” their token for SCRT and were absorbed by Secret Network SALT Lending registered after an ICO settlement and is currently apparently in limbo with no discernable business activity, presuming it isn’t abandoned. Ceres also seems to be in limbo with no discernible business activity currently. Hiro Systems had a token that is currently no longer a security. INX seems to be the only still-functioning platform in the list, however they seem to simply be making loss after loss, for the 2021 and 2022 and well as Q1 2023. It would simply appear that even if one wants to “follow the rules” it simply doesn’t make financial sense. The rules are so restrictive that a securities exchange cannot trade Bitcoin, or any other commodities for that matter, which is obviously a MASSIVE blow, making it very hard to be profitable. This means that a crypto securities exchange may only offer for trade tokens in this list of 9, the majority of whom are dead or very close to it. It seems it is better for firms to try their luck avoiding the SEC. This is to say nothing of the difficulty and cost of registering as a security in the first place.