Corey Frayer
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csfrayer.bsky.social
Corey Frayer
@csfrayer.bsky.social
1.8K followers 450 following 1.5K posts
Michael Lewis called me "...a faceless minion in a blue suit..."

Director of Investor Protection - Consumer Federation of America. Former: Crypto Adviser to Gensler SEC. House Financial Services and Senate Banking Committees.
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csfrayer.bsky.social
Because a crypto CEO threw a tantrum on social media, the Senate Banking Committee has officially canceled tomorrow's vote on a bill giving his multi-trillion dollar industry almost everything they wanted.

With enemies like these, who needs friends?
Picture of tweet from reporter Eleanor Mueller, text says "Senate Banking Committee has canceled its markup of crypto market structure legislation tomorrow morning, I am told."
January 15, 2026 at 2:58 AM
csfrayer.bsky.social
The most effective anti-crypto lobbyist is the President. The second most effective anti-crypto lobbyist is the crypto lobby.
Tweet from Brian Armstrong, Coinbase CEO After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: - A defacto ban on tokenized equities - DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy - Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC - Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft. We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.
January 14, 2026 at 9:26 PM
csfrayer.bsky.social
Extending an olive branch to give the crypto industry some free lobbying advice - don't give quotes to media that admit the language you got in the last piece of legislation is, in fact, bad.

www.coindesk.com/news-analysi...
Picture of quoted text from the linked article: "If they succeed in blowing up this legislation with unreasonable demands, they will be left with language in the GENIUS Act — a status quo that they themselves have insisted is completely unworkable," she said. "That outcome would be self-inflicted, and it would expose exactly who is fighting for consumers and who is fighting to preserve monopoly power.”
January 14, 2026 at 3:43 AM
csfrayer.bsky.social
Picture of Lisa Simpson and unnamed man running away from fire-breathing monster. Man saying "He said it was just a name. What he meant is that monster island is actually a peninsula"
December 18, 2025 at 8:32 PM
csfrayer.bsky.social
This SEC letter to DTCC allowing tokenized securities is like when my parents would tell my brother to share the Nintendo.

The easiest answer was to hand me an unplugged controller and keep playing.

www.sec.gov/files/tm/no-...
Picture of text from SEC No Action Letter: Override Keys. DTC would have a “root wallet” on each blockchain with keys that it can use to convert, transfer, mint, or burn any of the Tokens, even without the private key for the Registered Wallet. These keys would allow DTC to act on any Tokens that have been the subject of Conditions Requiring Reversal. This override power would provide Participants with protections similar to those that exist with a centralized ledger but without compromising the benefits of DLT. DTC would maintain robust security systems to maintain the storage of its keys. In particular, DTC would store the keys relevant for the DTCC Tokenization Services in cold storage except for any such keys that are necessary for daily operations.
December 12, 2025 at 12:42 AM
csfrayer.bsky.social
The whinging that cryptobros exhibit over their delusions of persecution never cease to amaze me. You won the GENIUS Act! Most mainstream coverage of crypto adopts industry framing at minimum! "Big Consumer" doesn't have a campaign war chest! What a bunch of cringey sore winners.
Picture of twitter post where Alexander Grieve, head of a pro-crypto vc firm, claims that consumer groups are so powerful that they bullied the NYT into publishing two articles this weekend that expressed some criticism and skepticism re crypto. WRT to a letter 200 progressive groups released today regarding draft crypto legislation in Congress, Grieve says "What a truly remarkable coincidence." Implying that the release of the letters shows that the consumer groups and the NYT are coordinating some kind of crypto campaign.
December 10, 2025 at 4:06 PM
csfrayer.bsky.social
Even Atkins is drawing a line in the sand on leveraged ETFs. SEC comment letter in a ProShares 2x+ filing from today:
www.sec.gov/Archives/edg...
We write to express concern regarding the registration of exchange-traded funds that seek to provide more than 200% (2x) leveraged exposure to underlying indices or securities. On October 6-7, 2025, and October 14, 2025, ProShares Trust filed post-effective amendments on Form N-1A to add the series referenced in Appendix A attached hereto. We will not perform a substantive review of these filings referenced in Appendix A until the issues raised in this letter are addressed. Further, we request that in your response letter you undertake to delay the effectiveness of the filings until these issues are resolved.
December 2, 2025 at 10:34 PM
csfrayer.bsky.social
Uncle Sam finger pointing through the stripes of an American flag with the words "Are YOU doing all you can?"
December 2, 2025 at 8:40 PM
csfrayer.bsky.social
The demand for special treatment from crypto has never been about the tech, it has always been about preserving FTX-like conflicts of interest and trading advantages on their own platforms.
Coinbase post on X with their letter to the CFTC explicitly asking to allow their vertically integrated business model.
December 1, 2025 at 2:10 AM
csfrayer.bsky.social
Eat your heart out, Ernest Hemingway.
Partiful notifications thread showing "Justin" RSVPing for 2 people and then shortly thereafter changing it to 1 person.
November 26, 2025 at 12:29 AM
csfrayer.bsky.social
November 24, 2025 at 8:23 PM
csfrayer.bsky.social
Not even dunking on crypto this is just as valid as any technical analysis.
Screenshot of tweet that says "Just in, McDonald's McRib has returned. Historically every McRib comeback since 2020 has marked a Bitcoin rally." Followed by a graph of Bitcoin prices.
November 11, 2025 at 9:16 PM
csfrayer.bsky.social
More from Boozman/Booker crypto bill (Booboo?)

Tired: memecoins
Wired: meme securities
Senate Bill Text: (ii) The term ‘digital commodity’ includes any fungible digital asset that can be exclusively possessed and transferred, person to person, without necessary reliance on an intermediary and is recorded on a cryptographically secured public dis16 tributed ledger, of which the primary branding, narrative, or price discovery is substantially derived from a meme, joke, trend, or the name or likeness of a public figure (with or without license).
November 10, 2025 at 10:40 PM
csfrayer.bsky.social
First impressions of the bipartisan crypto bill from Senate Ag:

The definition of a digital commodity relies on transfers "...without necessary reliance on an intermediary..." Nowhere in 155 pages does it appear to consider whether a validator is an intermediary.

These are not serious people.
Senate bill text: (27) DIGITAL COMMODITY.— (A) IN GENERAL.—The term ‘digital commodity’ means any fungible digital asset that can be exclusively possessed and transferred, person to person, without necessary reliance on an intermediary, and is recorded on a cryptographically secured public distributed ledger.
November 10, 2025 at 10:13 PM
csfrayer.bsky.social
A new draft crypto bill from Senate Ag is out. I have explained what an incredibly ignorant definition this is, over and over. It's a good proxy for how serious the drafters of this bill are.

Google docs are cryptographically secure digital ledgers.

www.agriculture.senate.gov/imo/media/do...
Senate Draft Bill text that reads: DIGITAL ASSET.—The term ‘digital asset’ means any digital representation of value which is recorded on a cryptographically-secured distributed ledger.
November 10, 2025 at 10:00 PM
csfrayer.bsky.social
Latest: there's a certified moron on the Fed's Board of Governors
Screenshot of Twitter post from Cointelegraph: 🇺🇸 JUST IN: Crypto-friendly Stephen Miran has been confirmed by the Senate to join the Federal Reserve Board of Governors.
November 10, 2025 at 8:52 PM
csfrayer.bsky.social
🔥BIG: Minecraft players built 200 million square miles of land in 2024 - almost 4x the land mass of the Earth!
Twitter post with graph and featuring the text: BIG: Stablecoins processed $46T in transactions over the past year, nearly 3x Visa's volume and closing in on the ACH network that powers US banking.
October 24, 2025 at 3:51 AM
csfrayer.bsky.social
"I'm not burning this flag I'm just adding cool flames to it."

Donald Trump, probably
Picture of White House with East Wing completely razed.
October 23, 2025 at 7:38 PM
csfrayer.bsky.social
Concise visual of Trump's second term.
Picture of excavator tearing down a side of the White House.
October 20, 2025 at 6:56 PM
csfrayer.bsky.social
r/thathappened

Spit On, Sworn At, and Undeterred: What It’s Like to Own a Cybertruck www.wired.com/story/owning...
screen shot of Wired article text: So we start talking and she says, “Well, I saw you get out of your truck with your boots, and you're like a big white man. I guess I just assumed because Elon's a Nazi and you fit the profile …” I stopped her and I was like, “My last name is Goldman, what heritage do you think that is?” She's like, “That's Jewish. My wife is Jewish.” I said, ‘OK, so you just accused me of being a Nazi when I'm a Jew. And you said that your wife was Jewish, so I'm assuming you're gay. Is that a safe assumption?” She said yes, and I said, “OK, so did you ever get profiled anytime in your life for being gay?” And she says, “Yeah, all the time. I hated it.” And I was like, “Well, do you realize that you just profiled me based off of the vehicle that I drive and me wearing work boots and being a big white guy as being a Nazi when it's completely something totally different?” And she broke down in tears and apologized.
October 16, 2025 at 1:44 PM
csfrayer.bsky.social
Is this a pigeon meme with text - "is this, UBI" and dogecoin image
October 3, 2025 at 9:41 PM
csfrayer.bsky.social
"Company valued at $90 billion hands out $12,000 in crypto - useless for purchasing food, paying rent, or covering medical costs - to low-income New Yorkers."
Twitter post from Coinbase "We’re helping @GiveDirectly show how crypto and USDC can change the game for New Yorkers in need" with image of CoinDesk article with headline "Coinbase-Backed Pilot Program Hands Out $12,000 in Crypto to Low-Income New Yorkers"
October 3, 2025 at 9:26 PM
csfrayer.bsky.social
You're welcome to use this
August 27, 2025 at 8:32 PM
csfrayer.bsky.social
Here's what the third day of elementary school looked like in Mount Pleasant, Washington DC.
August 27, 2025 at 8:22 PM
csfrayer.bsky.social
People who are too cowardly to name names and live under the reputational protection of their Senate appointed spouse for 500 dollars, Alex.
Tweet from Justin Slaughter with image of Sherrod Brown statement on crypto. Tweet reads: Pretty reasonable statement. I have long thought Brown was basically misled by a few executive branch staffers last Admin.
August 22, 2025 at 3:18 PM