Happy Thursday, Blockfolians
Some good news on the regulatory front. While we’re used to dealing with a somewhat intransigent SEC under Jay Clayton, our new chair is cut from a different cloth.
Gary Gensler is the former head of the CFTC and no friend of big business. When he came to power under Obama some were worried that he would go easy on former big bank colleagues. Their concerns were soon dispelled.
When Trump came to power, Gensler stepped away from public life and, among other things, taught a course at MIT and bitcoin and blockchain.
Many are expecting big things from Gensler. While he hasn’t come out all guns blazing as pro-crypto, the level with which he’s engaged and contemplated the space are leagues ahead of others in positions of regulatory power.
So here’s to optimism!
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Highly Relevant Reading
Slim Jim has a…..DOGE strategy?
Ethereum’s Berlin update is live…but not without some trouble
LOL HSBC is denying clients access to $COIN too
British Hedgefund Brevan Howard is about to start investing in crypto
A good reminder
So on MSM journalists and Bitcoin mining ESG. Look at incentive structures.
MSM is getting killed by alternative news sources. Twitter, Substack, Pods, etc. They need clicks. It’s how they get paid. They don’t get paid to be right, they get paid for views. Act accordingly.
Trouble in reserve currency paradise
* RUSSIAN FOREIGN MINISTRY SAYS U.S. SANCTIONS RAISE DOUBTS ABOUT WISDOM OF USING U.S. DOLLAR AND WESTERN PAYMENT SYSTEMS – TASS
A Really Big Number We Should Be Paying Attention To
That’s how much $COIN Cathie Wood’s $ARK ETF’s bought yesterday