stevedewald

This article is incorrect. The rule implemented a safe harbor for large card issuing companies that have to comply with rules regarding late fees. The safe harbor means issuers can charge $8 late fees and be sure they are in compliance.

Card issuers can still charge more than $8 for late fees. They just need to comply with existing regulation, specifically that whatever late fees they charge are “proportional” to their costs.

Don’t expect an $8 cap on late fees as a result of this.

You introduced sex into a discussion where their sex is completely irrelevant.

Is oxygen flammable? I’m pretty well-educated and that question gave me pause. I know oxygen is involved in the combustion process, so I think the answer is yes, oxygen is flammable. That feels like a trick question though.

Yes. You give away information about your position and capabilities if your defensive system triggers inadvertently.

Hedge fund manager here. Depositors and banks are counterparties, and every financial institution & fund I’ve ever encountered does significant and ongoing diligence on their multiple banking relationships.

It’s hard to imagine how irresponsible these VCs and startups were.

It does not come from “taxpayers” per se, it comes from people who keep money in U.S. bank accounts.

That is not correct though. With the question phrased this way the second and third logicians don’t know if the previous ones want a drink or not.

It’s because someone could short (borrow) GBTC and redeem it for BTC for an immediate profit. The premium would disappear near instantaneously as short sellers captured the spread.

Dropping out of school isn't really an accomplishment. Neither is failing at building a company despite raising $30 mil in funding.

You already can. You just can’t sell them to other people on Apple’s platform.

This is just investor fraud. Customers funds are a separate issue not regulated by the SEC.

The SEC isn’t responsible for protecting customers. We’ll have to see which other agencies get involved and what they charge him with.

It doesn’t cover any off-chain liabilities.

Note that for most exchanges a material portion (most?) of their liabilities will be off-chain—e.g. fiat customer deposits.