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Newsletter: Are US legislators and regulators warming to crypto? Also, someone lights himself on fire to promote a memecoin. https://www.citationneeded.news/issue-59/
Cryptocurrency companies have raised over $115 million to influence US elections this cycle, and they’re just getting started. We need to closely watch how cryptocurrency companies are influencing US politics. https://www.citationneeded.news/2024-cryptocurrency-election-spending/
Meanwhile, cryptocurrency companies like Coinbase have been aggressively recruiting their customers to donate and vote along pro-crypto lines, with in-app calls-to-action and flashy websites that rate politicians based on their perceived pro- or anti-crypto stances.
Fairshake, a crypto-focused super PAC, is #3 on the list of super PACs by the amount of money raised. Coinbase and Ripple are both in the top ten companies by amounts donated to outside spending groups. This is far out of proportion when you look at the size of the industry.
We must protect privacy, even in the face of cryptocurrency crime. As governments crack down on one of the most notorious tools for criminal money laundering in the cryptocurrency world, I’m worried about the ramifications.
In a perfect world, what is moral and what is legal would exactly align. We don’t live in a perfect world, and strong privacy protections are essential for human rights.
The Justice Department worries about the stability of Ethereum, DCG tries to bilk their subsidiary's creditors, and Biden threatens a crypto veto. Catch up with https://www.citationneeded.news/issue-58/
Many yearn for the "good old days" of the web. We could have those good old days back — or something even better — and if anything, it would be easier now than it ever was.
The Binance CEO's sentencing draws near, and prosecutors have been busy chasing down other crypto criminals. Also, lawmakers take another stab at stablecoin regulation. Catch up in Issue 56 of Citation Needed:
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Here's a peek into the sentencing hearing that ended with Sam Bankman-Fried receiving 25 years in prison. I also discuss some of the shock at what is being perceived as a light sentence, and the amount of time SBF is likely to actually serve.
Euphoria has risen along with crypto prices, but nothing has changed from the last bubble. Also in this issue: Tether-related defamation lawsuits, intra-government infighting, and a disappointing $300 million Bored Ape video game.
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Bitcoin's spiking — are we in for another round of crypto mania? I also go through Sam Bankman-Fried's sentencing memorandum, in which he asks for 6 years imprisonment instead of the recommended 100, and the 29 people who wrote letters in support.
Review: In "Read Write Own", the Andreessen Horowitz general partner and web3 superfan Chris Dixon lays out an unconvincing argument that blockchains are what it will take to fix the web.