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Wzy Word




Hey yo, what is going on & what is up with your new week, my friends who I like to call the viewers of the tube You should know by now, but if you don’t, I’m the host of the channel, that takes the normal content & then puts a crazy out of this world spin on it

kind of like this guy, who did just that to Eminems, without me I’ve created a monster,'cause nobody wants to see Tyler no more, They want Chico, I'm chopped liver! Well if you want Chico, then this is what I’ll give ya It’s time for Chico Crypto! Well, it’s time to take the normal course of things in the crypto space, and put that Chico spin on it

well not even a spin, we are just going to drop the facts, and let you guys decide on how you take our grains of salt So, if you didn’t know…the New Yawk Department of Financial Services, NYDFS

isn’t the most crypto friendly They are the creators, of the bitlicenseone of the most restrictive pieces of crypto legislation to come out of any stateand issuance of them, for crypto companies to operate within the state, were few and far between

only 1 issued in 2015, 1 issued in 2016, and only 2 issued in 2017 2018 we saw six issued, and 8 were issued in 2019 So NYDFS, through the bitlicense, has full control and say who gets to legally operate within their borders

Now Remember the new banking charter, the Treasury & the office of the comptroller were trying to get going in 2018 to today It would be a national banking charter, for fintech companies, like crypto ones, who would get 1 license and be able to operate in all 50 states The bitlicense, of which the NYDFS created, would be null and void And you guys know, if you watch my channel, who the ones were that stopped this banking charterand unleashing the growth of crypto companies Wait for itthe New York Department of Financial Services, by suing the Office of the Comptroller in September of 2018 & blocking the charter The case has been ongoing since then, a judge ruled in favor of the NYDFS, but now we are at the appeal stage for the OCC, with a bad mammer jammer, the Comptroller of the Currency Brian Brooks We know that… So why is the NYDFS being such a bummer on the crypto markets? Why do they wan’t full control of what goes on within their borders?? Well just 2 Thursday’s ago, the launched something interesting

Operation Fast Forward, and according to this launch article “In support of re-opening and adapting New York to the new economic and social normal caused by the panic New York’s Department of Financial Services (DFS) announced the launch of a program called “DFS FastForward” which will support innovators who can deliver novel digital solutions that advance the state’s recovery from the panic… Now, we gotta back up a bit, and see a new advisory board the state of New Yawk, decided to create in December of 2017, at the peak of the crypto markets, and when bitcoin was at 20k From the press release, “DFS SUPERINTENDENT VULLO ANNOUNCES FORMATION OF NEW STATE INSURANCE ADVISORY BOARD: The 10-Member Advisory Board Will Advise the Superintendent on Furthering DFS’s Mission and Goals as They Relate to the Insurance Industryoh really? Let’s just see who is on that board today

David W Anderson, of HealthNow? Never heard of it? How about the President of BlueCross Blue Shield? Ya Health bigwig #1but then you have Lucy Fato, VP & general counsel of AIG, Karen Ignagni, President of EmblemHealthand she looks like a queen karen by the wayand the list goes on for the health bigwigs… But, there is someone who is highly important on this advisory board, Roger Fergoson, CEO of TIAA insurance Now why is this interesting? Well things start to connect back to the crypto world, through Fergy… Well Roger, is married to an Annette Nazareth, former SEC commissioner, who served with ole W

from 2005 to 2008 Ya right before the financial collapse This article details what she did well “Nazareth spent 17 years working for Lehman Brothers, Salomon Smith Barney and the corporate law firm of Davis Polk before her jobs at the SEC” In Nazareth's time at the SEC, she was criticized for lax oversight of the banking industry, having "had responsibility for investment bank oversight" in the period leading up to the financial crisis

In fact, while head of market regulation, Nazareth reassured the SEC that new rules allowing big investment banks like Goldman Sachs to take greater risks would not lead to disaster The article then says “Unsurprisingly, when Nazareth left the SEC, she returned to representing financial institutions at Davis Polkand this is where those crypto connections come right in

Yes, after she dropped the SEC, she became a partner in the Law Firm Davis Polk & Wardwell So before, we get into the crypto connections What did Davis Polk do when Annette joined? According to this 2012 article, titled “When Washington’s revolving door spins” it says “Nazareth and her colleagues at Davis Polk played a central role as the financial industry shaped its Dodd-Frank priorities, helping write more than 80 comment letters to regulators The firm’s clients, including SIFMA, JPMorgan Chase and Bank of America, targeted rules such as the so-called Volcker ban on proprietary trading, arguing it could create excessive burdens on banks, choke off business and hurt the economy” So Annette works for the banks, and has alwaysand in my opinion, helped create the mess we currently are in! Now what else is Davis Polk involved in? Well Davis Polk is a wall St Law firm, and you would think they would get involved with the New York Stock Exchange right? Yes they arefrom their website “Our extensive experience with the U

S Securities and Exchange Commission (the “SEC”), NYSE, Nasdaq and other US and global regulators, including in-depth contact with their senior personnel, provides clear insight into regulatory considerations in offerings of all types Through formal and informal communications with regulators, we contribute to the shaping of regulatory policies on various issues” So New York Stock Exchange

how are they involved in cryptocurrency? Well Bakkt, is the digital asset subsidiary of the New York Stock Exchange, we all know thatof which Kelly Loeffler and Hubby Jeff Sprecher are both owners of And guess who just announced that they were partnering together? Bakkt and Micheal Novograt’z Galaxy Digital, as Galaxy would be providing trading and custody solutionstrading through Galaxy Digital and custody through the Bakkt Warehouse

Now it was announced that Galaxy digital would be using the Bakkt Warehouse, for a fund of theirs back in September of last year From this Yahoo article on the announcement of the galaxy digital fund titled “Bakkt, Fidelity Will Store Galaxy Digital’s New Bitcoin Fund Holdings”…it states”Bloomberg L

P will be the pricing agent for the funds while other service providers include Deloitte & Touche LLP for audit, Ernst & Young LLP for tax and Davis Polk & Wardwell LLP for legal counsel Here is the connection Davis Polk Wardwell, the law firm of which Annette Nazareth is a partner in, and the law firm providing legal counsel for Bakkt & Galaxy Digital So here is the thing, let’s put it together

you haveRoger Fergoson, on the board of the New York Department of Financial Services, who is currently trying to stop crypto companies from getting a special banking charter… Roger Fergoson, is married to Annette Nazareth, lawyer, and partner in Davis Polk, who is representing two of the biggest institutional products, Bakkt from Loeffler and Sprecher, and Galaxy Digital from Mike Novo So you would think, hey this kind of looks like it’s the wall st Rats, Annette is one, Roger is one, Kelly is one, Jeff is onetrying to take full control of the crypto markets, with their products and block companies, from getting a license which would expand and grow the crypto markets But like always on the Chico channel, things go much deeper than just that So let’s go back to Annette Nazareth for a secondbesides being a partner, with David Polk, she is an advisor for a certain crypto companyin 2018, it was announced that she would be joining the crypto firm, Bitfury…

Now who is Bitfury? On OG company, founded in 2011and what they do, is provide bitcoin mining, hardware & software solutions…from their bitfury clarke chip, tardis enterpris miner, the blockbox, massive data centers

and more Now you don’t hear much about Bitfury in the news, as I’m sure for many of you, this is the 1st time you have ever heard of the company Well that is because not much is known about them, it’s kept under wraps

What is known, is they are diehard blockstream supporters…… Here is adam back, CEO of blockstream & Samson Mow, chief strategy officer dining with two Bitfury Exec’s, Alex Petrov & George Kikvadze…then in August of 2019, the announced blockstream mining and pool, with 2 data centers, one in Quebec and one in Georgia, and they are #1 running Bitfury miners But here is the connection, which makes things go huh? A major investor in both blockstream, bitfury and something more dark, the creation of USDT This is Matthew Roszack, and he actually gave the government his CV, when he testified in front of the Committee on Energy and Commerce in the US

House of Representativesand as we can see from the CV, he wrote he is an investor in Bitfury #1, Blockstream #2, and the last one is which connects us right back to Tether, Noble Marketswhich was Tether’s bank for some time, created with his buddy Brock Pierce So here is where things start to get a little murky The NYDFS, is blocking crypto companies, with an advisor connected to Davis Polk, Wall St Rats, but also Bitfury and Blockstream, and thus Tether USDT…

but then other parts of New York, the criminal division, Attorney General Letitia James, is going after Tether and USDT? Of which, Tether, Bitfinex, ifinexwhatever you wan’t to call them, are in an appeal, so they don’t have to turn over documentation, which includes some stuff revealed, that shows Galaxy Digital, Micheal Novogratzmight have been a customer of theirs So New Yawk Financial Division vs New Yawk Criminal Division? NYDFS vs NYDOJ? Well things got even more interesting over the weekend Now guess where the New York AG is filing charges for ifinex and the like out of? The Southern District of New York…

welll Trumpster decided to fire, the head attorney, Geoffery Bermam… From announcements about the Tether case, when Reggie Fowler and Ravid Yosef where charged with shadow banking, it was Geoggrey Bermanfiling the chargesHmmm and the replacement announced for his position? From the new york times article on the story, “Attorney General William B Barr announced late on Friday Night, that Mr Berman would be replaced by Jay Clayton, the chairman of the SEC…

And guess where Trump’s treasury department is fighting for a special banking charter for fintech companies, aka crypto companies? The southern district court of new york I’m telling you, this shake up, in New York isn’t just about your traditional politics, wall st

and moreit has everything to do with cryptocurrency, and the future of money Who are the good guys and who are the bad? I’ll let you decide

Cheers, I’ll see you next time!

Source: Youtube

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