Happy Tuesday, Blockfolians
The Lede
Ransomware is the latest greatest FUD, of that there can be no doubt.
In the wake of the Colonial Pipeline attack earlier this year, as well as the attack on one of the world’s biggest meatpackers JBS, crypto is undergoing more scrutiny as a mechanism for facilitating these attacks.
Now the same group behind those attacks has installed malicious software on 1,000,000 computers across 200 companies and is demanding $70m.
Obviously we think that the focus should be on, you know, the criminals, rather than an apolitical internet currency that they happen to use. But it’s undeniable that this line of discussion is dangerous.
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Highly Relevant Reading
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Beijing shuts down a firm providing services for crypto trading
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A US Congressman bought Cardano, Dogecoin and ETH this bull market
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Why crypto is booming in Nigeria
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More former regulators join Binance.US
Community Commentary
DAOs baby, redux
Yeeeeps
ANOTHER DAY, ANOTHER STORY out of Washington, DC abt #bitcoin regulation. This caught my eye–mention of the US Treasury Dept having “authority to regulate payment networks” + looping in FSOC to give the Fed explicit regulatory authority over #stablecoins.
A Really Big Number We Should Be Paying Attention To
$55B
That’s the AUM of the newest hedge fund to get in on the crypto game
Final Thought
Ooooh.
