- Crypto influencer Ben Armstrong responds to SEC’s lawsuit against crypto firm Paxos in a video.
- “Why are banks and crypto firms in the US under scrutiny at the same time?,” asks Armstrong.
- The OCC and the SEC are after the BUSD, believes Armstrong.
Crypto influencer Ben Armstrong responds to the recent lawsuit filing by the SEC on the Binance USD token. Moreover, he heralds war between the banks and the Security Exchange Commission (SEC) against crypto, the House of Representatives, and the Commodity Futures Trading Commission (CFTC) in his latest tweet.
Ben Armstrong aka Bitboy_Crypto, posted a video noting his speculations about what is embarking the crypto world ever since the fall of FTX. He tagged his video in a Twitter post that read:
This video hits differently today than it did yesterday.
The video is a response to the recent lawsuit the SEC filed against crypto firm Paxos over Binance USD token. In the clip, Armstrong discusses the SEC’s imposition on leading crypto firms and asks, “If we are being forced to look at it [SEC’s imposition] as the purge we always expected in crypto.”
In an attempt to piece things together, he begins by pointing out that the banks, crypto organizations, and companies in the US crypto market — Signature Bank, SoFi, Goldman Sachs, and JP Morgan — are all under scrutiny at the same time.
Armstrong urges his followers to think, asking, “Why? Is this about scrutiny on any of these individual institutions themselves, or are we looking at a workaround?” Additionally, he proceeds to point out that people were worried that Binance is insolvent or that it’s going to crash to zero. However, Armstrong states:
I’m not worried about them [Binance] being solvent. I’m 99% sure that they [Binance] are. I’m about 80% sure they [Binance] probably have more money than they’re supposed to have.
Armstrong believes that all the pivotal events happening in the crypto market, starting from the fall of FTX, are the SEC’s and OCC’s orchestrated attack to go after the BUSD. “It was all about world currency domination and the stablecoin. This is about bringing Binance US dollar (BUSD) as a stablecoin,” says he.
Concluding his video, he invited his followers to drop their thoughts in the comment section. Armstrong says, “This [domino effect of attacking the US crypto companies and organizations] was done in order to bring Binance under control and bring it down.”
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Source: https://coinedition.com/we-are-about-to-see-a-civil-war-says-ben-armstrong/