Crypto should be the last truly free market, but it’s clearly not.
From the GME fiasco with Robinhood to the SEC halting trading on securities to "protect investors" from "stock promotions on social media", it's grown clear that free markets in the U.S. don't actually exist. The elite engage in insider trading on an unimaginable scale with only occasional fee penalties incurred, while the first attempts at grassroots organization by retail investors were met with unflinching resistance.
After this façade of a free market was broken, many turned to the crypto markets for safe haven. Now Coinbase has also been caught engaging in wash trading to inflate prices over the course of three years (Mt. Gox anyone?). They received a slap on the wrist. Business as usual.
Crypto offers us the first true global free market in the form of trustless peer-to-peer exchange. Large centralized exchanges like Coinbase erode that free market, just like traditional financial institutions did before them. I implore you all to look into decentralized exchanges to buy and sell your crypto (I won't name services here so that this isn't deleted for shilling). Yes, you pay a slight premium due to lack of liquidity. But that premium also ensures privacy and the growth of these necessary networks. We need to create the market crypto deserves for ourselves.
Edit: I should clarify that I'm not condemning Coinbase or asking for regulation/oversight. Centralized exchanges are great starting points for people dipping their toes in crypto for the first time. I just feel that decentralized peer-to-peer trading platforms are closer to Bitcoin's core ethos, and can only thrive with more liquidity. Those of us with more experience could greatly benefit the decentralized ecosystem by interacting with it
submitted by /u/Drudgel