CoinDesk - Unknown

Ransom and Legal Tender: Bitcoin's Diverging Paths on the Global Stage

This week, “Opinionated” co-hosts Ben Schiller, Anna Baydakova and Danny Nelson address two recent and opposing news pieces: the ransomware attacks and El Salvador’s decision to introduce bitcoin as legal tender. The question remains: will these ransomware attacks be the trojan horse for tight regulation, or will reasonable measures be introduced that could be beneficial for crypto in the long run?

June 12, 2021

This week, “Opinionated” co-hosts Ben Schiller, Anna Baydakova and Danny Nelson dig deep into two of the biggest storylines in crypto: the proliferation of ransomware (and what crypto’s got to do with it) and El Salvador’s upstart bid to become a global bitcoin capital.

This episode is sponsored by

Just over a month after ransomware group DarkSide held gas company Colonial Pipeline hostage for $4.4 million in bitcoin, there’s been a major development. The feds say they’ve gotten most of the payment back – an almost unheard of feat, and one shrouded in mystery.

How did they pull it off? The gang runs through some of the most popular theories, from FBI honeypot mixing services to good old police work. Then, they hash out what it might take to pull off the perfect crypto crime.

Even as the U.S. is moving to (possibly) crack down on bitcoin, another nation, El Salvador, is racing to embrace it. President Nayib Bukele closed out Miami’s crazed bitcoin conference with the blockbuster news that he’d make bitcoin legal tender. It's being framed as a means to give El Salvador’s majority unbanked population access to financial services – but is that really the case?

Ben, Anna and Danny discuss these and other topics, plus an update on where the ESG movement stands.

Ben Schiller’s Twitter handle is: @btschiller

Anna: @baidakova

Danny: @realDannyNelson

Image credit: metamorworks /iStock/Getty Images Plus/ modified by Coindesk