March 9, 2022: Executive Inaction 💵 🏛

Markets relieved as DC calls for further crypto studies

President Biden released his long-awaited executive order on cryptocurrency, and nobody could have guessed what was coming.

Except technical analysts…

TzTok-Chad (💎, 💎) @tztokchad

the charts clearly pointed out to this turning out favorably the 6th time the executive order news was put out. It was also obviously bearish the previous 5 times. i positioned myself in a 17x leverage long on all the majors. what were you doing anon?

db @tier10k

BIDEN ISSUES EXECUTIVE ORDER ON DIGITAL ASSETS DOES NOT ANNOUNCE ANY NEW REGULATIONS DIRECTS AGENCIES TO DEVELOP POLICY RECOMMENDATIONS FOCUS ON CONSUMER PROTECTION, FINANCIAL STABILITY, ILLICIT FINANCE, PROMOTING U.S. LEADERSHIP, FINANCIAL INCLUSION AND RESPONSIBLE INNOVATION

Or people who read Yellen’s leaked comments….

Matt Corallo @TheBlueMatt

Looks like Yellen's comments on tomorrow's Executive Order were accidentally posted a day early (now removed). archive.org got them, though -

web.archive.orgStatement by Secretary of the Treasury Janet L. Yellen on President Biden’s Executive Order on Digital AssetsU.S. Secretary of the Treasury Janet L. Yellen released the following statement on President Biden’s executive order on digital assets. “President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support…

What is this, amateur hour? Better question: what does it all mean?