TL; DR
Full story
“I’m not crazy. You’re crazy if you think this is normal!”
Is this:
A) Something we shouted out in our microwave’s manual after we found out there was no way to reduce the number of beeps after heating.
(By the way, it’s 12 – 12 whole beeps. Once every 5 seconds for a minute straight).
OR
B) Something we shouted at our Uncle Steve at family dinner when he said the SEC “did not act with any apparent bias.”
The answer is: C) Both happened.
Returning to option B) – as of today, we now have a legal precedent that can be carried over to next month’s family meeting, and immediately thrown in Steve’s face.
Because a US court just imposed sanctions on the SEC for acting in bad faith in a lawsuit it filed against Debt Box.
In the case, Judge Robert R. Shelby said (quote):
“The SEC’s conduct constitutes a gross abuse of the power vested in it by Congress and has significantly undermined the integrity of these proceedings and the judicial process.”
Cool. Why?
In short, the SEC asked the courts to freeze all Debt Box funds without informing themciting that they had already sent $720,000 out of the country, making them flight risks.
The only thing was that the SEC told it pork pies about the transfer. The money never left the country. As a result, Judge Shelby came down hard on the Commission.
What does this mean for the SEC’s broader war with the crypto industry?
Not much. It’s just fun to win one (no matter how big or small).