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Wintermute CEO argues Crypto Twitter “doesn’t matter” as much as “US regulators, politicians” in response to SBF discourse

CEO of Wintermute, Evgeny Gaevoy, took to Twitter on October 23 to add commentary to the discourse around FTX CEO Sam Bankman-Fried and his intentions within the crypto industry. Gaevoy argued that Crypto Twitter is a “tiny subset of the world” and “doesn’t matter.”

Gaevoy went on to say that “US regulators and politicians as well as broader user base matter way more” in an apparent attempt to hit back against the argument that SBF is “entering some kind of villain ark;” a concept Gaevoy said he found “silly.”

Thoughts on recent sbf discourse 👇🏻

— wishful cynic (@EvgenyGaevoy) October 23, 2022

SBF’s recent regulatory claims

Recently, the state of Texas issued an investigation into FTX and SBF regarding unregistered security offerings. Following this announcement, SBF took to Twitter to give his thoughts on the future of crypto regulation.

1) As promised:

My current thoughts on crypto regulation.https://t.co/O2nG1VrW1l

— SBF (@SBF_FTX) October 19, 2022

SBF’s thoughts essentially consisted of a desire for “regulatory oversight and customer protection” and an “open, free economy.” In the meantime, he argued that “standards” are needed until proper regulation is installed. SBF also posited that the crypto industry should follow OFAC sanctions in an FTX Policy post linked in the Twitter thread. OFAC sanctions have been at the heart of the censorship debate on the Ethereum blockchain recently, and SBF’s support “triggered” Crypto investor and CEO of ShapeShift, Eric Voorhees, in his own words.

Voorhees wrote an extended response to SBF in a blog post on Money and State on October 20. In the post, he stated that SBF,

“recognizes that decentralized code is speech and as such ought not be regulated.  But unfortunately, he then advocates all manner of regulation on the means by which normal humans interact with such code.”

SBF had argued that “BTC and ETH are not considered securities” in a statement asking for greater clarity on what defines a security in the crypto world. However, the Shapeshift CEO, Voorhees,…


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