It bears mentioning that Libra, in addition to being a cryptoasset, is also basically an ETF!
Which means you can deploy systematic arbitrage strategies that trade on the underlying assets.
Which means @JaneStreetGroup is probably going to make a zillion dollars trading it.
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Its worth mentioning that the valuation structure of Libra kind of runs headlong into the regulatory debate about whether cryptoassets are currency or securities. Like, sure, it's valued based on a basket of currencies, but doesn't that make it... a foreign currency ETF?
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Replying to @vch
All i know is that the SEC, CFPB, and FDIC are gonna have a fucking field day with this. The SEC in particular, since they've been cracking down on cryptos that are actually just securities products
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and also, if i was an ETF prop trader i would absolutely be licking my chops at this
7:52 PM - 18 Jun 2019
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