Reacting to Biden’s executive order on crypto. Plus is Crypto really being used to evade sanctions?
Bitcoin and other cryptoassets like Ether are proving their worth as frictionless peer-to-peer money and playing a key role in funding the Ukrainian war effort with over $100 million USD in crypto donations raised. On the other side of the border in Russia, some ordinary citizens, cut off from the global financial system and digital economy, now rely on cryptoassets to store wealth, do transactions, and even make payroll. However, in the media we are hearing a narrative that Putin and his cronies will use cryptoassets to evade sanctions. Despite being based on disprovable myths (Bitcoin is a handy tool for criminals, which is false), and pure conjecture (Putin may use crypto, which is unlikely and yet undetermined), this narrartive dominates. Alex and Andrew cut through the fog and talk the truth about what’s happening.
Also, The White House released its long-awaited executive order on crypto. As Winston Churchill once said, “You can always count on the Americans to do the right thing after exhausting the alternatives.” The order was not the heavy-handed regulatory smackdown many feared but a thoughtful and balanced approach acknowledges the strategic importance of this asset class and technology. We go through the specifics and what it means for the industry.
Finally, some Crypto Whales are wagering big money on the future of LUNA (one way or the other), the Layer1 protocol that has soared to #6. Is this bullish for LUNA?