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Why are Binance and Kraken being targeted by Wall Street?

<!-- SC_OFF --><div class="md"><p>The DOJ is attacking Binance. The SEC is attacking Kraken. </p> <p><a href="https://www.coindesk.com/policy/2023/11/20/kraken-accused-by-sec-of-operating-unregistered-platform-improperly-mixing-customer-funds/"><strong>https://www.coindesk.com/policy/2023/11/20/kraken-accused-by-sec-of-operating-unregistered-platform-improperly-mixing-customer-funds/</strong></a></p> <p>These are, IMO, the two most reputable and trusted exchanges, at least domestically. This coordinated attack proves the Bitcoin Spot ETF is near. Why?</p> <p>They could've said the same things about them, and made the same attacks, 6 months ago, 1 year ago, 2 years ago. They're not doing anything different in Q4 2023 than they were in previous years. The SEC knows that. The DOJ knows that. So why attack them now? </p> <p>Because they want to say they are "cleaning up the industry", so proper accredited and institutional investors can enter, with confidence. And they don't want Binance and Kraken seen as viable investment platforms for new users, with major resources, to start investing in.</p> <p>Over 93% of the Bitcoins have been mined. Wall Street knows they need to move in fast, get a strong foothold, and corner the remaining market supply.</p> <p>It's not an accident that the SEC has kept the regulatory waters murky for the industry.</p> <p>Once Wall Street enters, I'm sure they'll have some new regs to further limit the user base Binance and Kraken have in the market. This is "they fight you" phase" of Bitcoin's progression to victory.</p> <p>The SEC and DOJ are tipping the scales in Wall Street's favor, in real-time, besmirching the credibility of Binance and Kraken, undermining their ability to do new business and retain AUM.</p> <p>It's clumsy and ham-handed of them to attack both at the same time. They could've been a little more clever than that, and not make it so obvious, but the Satoshis are running though the hourglass. </p> <p>Time is of the essence. 2024 is gonna be a big year, and Wall Street is ready to invest in my retirement.</p> <p>Thanks.</p> <p>"We need an attack plan!" - Black Widow</p> <p>"I have a plan. Attack!" - Iron Man</p> </div><!-- SC_ON -->   submitted by   <a href="https://www.reddit.com/user/TheFutureofMoney"> /u/TheFutureofMoney </a> <br/> <span><a href="https://www.reddit.com/r/Bitcoin/comments/1818i3a/why_are_binance_and_kraken_being_targeted_by_wall/">[link]</a></span>   <span><a href="https://www.reddit.com/r/Bitcoin/comments/1818i3a/why_are_binance_and_kraken_being_targeted_by_wall/">[comments]</a></span>