{"id":14535,"date":"2021-04-14T02:22:37","date_gmt":"2021-04-14T02:22:37","guid":{"rendered":"https:\/\/www.duck9.com\/?p=14535"},"modified":"2021-04-13T22:28:09","modified_gmt":"2021-04-14T02:28:09","slug":"deep-understanding-of-capital-knowledge-and-who-owns-ious-for-security-entitlements","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/deep-understanding-of-capital-knowledge-and-who-owns-ious-for-security-entitlements\/","title":{"rendered":"Deep Understanding of Capital Knowledge and Who Owns IOUs for &#8220;security entitlements&#8221;"},"content":{"rendered":"<div>\n<div dir=\"ltr\">Unedited by Larry Chiang<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">REMEMBER&#8211;all pre-listing shareholders of @coinbase signed over legal ownership of their shares to @The_DTCC &amp; got back IOUs for &#8220;security entitlements&#8221; in the master #COIN certificate, which DTCC now legally owns. Property right degraded into contractual right.&nbsp;<\/div>\n<div dir=\"ltr\"><a href=\"https:\/\/twitter.com\/caitlinlong_\/status\/1382115969338728453?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/caitlinlong_?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1362592672150528003\/iYZ84uXB_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/caitlinlong_?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Caitlin Long &#x1f511;<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/caitlinlong_?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@CaitlinLong_\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">REMEMBER&#8211;all pre-listing shareholders of&nbsp;<a href=\"https:\/\/twitter.com\/%E2%80%AA@coinbase%E2%80%AC%E2%81%A9\"><a href=\"mailto:\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@coinbase\u00e2\u20ac\u00ac\u00e2\u0081\u00a9\" >\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@coinbase\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/a>signed over legal ownership of their shares to&nbsp;<a href=\"https:\/\/twitter.com\/%E2%80%AA@The_DTCC%E2%80%AC%E2%81%A9\"><a href=\"mailto:\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@The_DTCC\u00e2\u20ac\u00ac\u00e2\u0081\u00a9\" >\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@The_DTCC\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/a>&nbsp;&amp; got back IOUs for &#8220;security entitlements&#8221; in the master&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23COIN&amp;src=hash\">#COIN<\/a>&nbsp;certificate, which DTCC now legally owns. Property right degraded into contractual right. Horrible system&#x1f625;&nbsp;<a href=\"https:\/\/t.co\/CshD6pagBL\">pic.twitter.com\/CshD6pagBL<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/caitlinlong_\/status\/1382115969338728453?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">4\/13\/21, 6:38 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><a href=\"https:\/\/twitter.com\/waynevaughan\/status\/1382116425289105409?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" style=\"border:1px solid #ccd6dd; border-radius: 12px;\" width=\"500\" bgcolor=\"#ffffff\">\n<tbody>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/waynevaughan?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1363206307084267524\/D-pL5STF_normal.jpg\" style=\"border-radius: 50%; padding: 0px;\" height=\"48\" width=\"48\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width:8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/waynevaughan?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: #292c2f; text-decoration: none;\">Wayne Vaughan<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/waynevaughan?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: #7e8c98;\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@WayneVaughan\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif;color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none;\">You don\u00e2\u20ac\u2122t really own your stocks.<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/waynevaughan\/status\/1382116425289105409?s=11\" style=\"font-family: Helvetica, Arial, san-serif;color: #667785; font-size: 14px; line-height: 18px; text-decoration:none;\">4\/13\/21, 6:40 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\">Sent from my personal iPhone, 650-283-8008,&nbsp;<\/span>that Steve Jobs texted me on<\/p>\n<div><\/div>\n<div><span style=\"background-color: rgba(255, 255, 255, 0);\">https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/span><\/p>\n<div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Unedited by Larry Chiang REMEMBER&#8211;all pre-listing shareholders of @coinbase signed over legal ownership of their shares to @The_DTCC &amp; got back IOUs for &#8220;security entitlements&#8221; in the master #COIN certificate, which DTCC now legally owns. Property right degraded into contractual right.&nbsp; &nbsp; &nbsp; Caitlin Long &#x1f511; \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@CaitlinLong_\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 REMEMBER&#8211;all pre-listing shareholders of&nbsp;\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@coinbase\u00e2\u20ac\u00ac\u00e2\u0081\u00a9signed over legal ownership of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14535","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/14535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=14535"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/14535\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=14535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=14535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=14535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}