Executive Summary: What Is Prometheum and Why Is It in Front of Congress?
In this article, I explain what the obscure SEC-approved trading platform Prometheum is, why its CEO was brought in to defend regulation despite the platform's lack of capabilities, and some theories on whether it's an SEC psyop, regulatory trap, or simply grifters capitalizing on crypto hype.
Summary: Prometheum is an obscure, SEC-approved digital asset trading platform with questionable ties to China that is being used by the SEC to defend the status quo of crypto regulation despite not actually offering any trading capabilities.
What is Prometheum:
- First SEC-approved digital asset trading platform
- Founded in 2017, raised $48M from Chinese investors
- Has not launched any actual products or trading capabilities
Prometheum at Congress hearing:
- CEO Aaron Kaplan presented by SEC to defend regulatory process
- Could not explain why platform does not offer BTC or ETH trading
Theories on Prometheum:
- Potential SEC plants or grifters in it for the money
- Possible elaborate SEC psyop or regulatory trap
- Unclear if it serves any real purpose despite claims
Full article:
What Is Prometheum and Why Is It in Front of Congress? | CoinMarketCap
SEC-licensed digital asset trading platform doesn’t allow its customers to trade Bitcoin or Ether, the two assets that make up more than 60% of the digital asset market.
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