While capital flowed into bitcoin amid a period of uncertainty, the cryptocurrency’s fractured liquidity arguably played the largest role in its surge.
The biggest threat from the banking crisis triggered by this month’s collapse of Silicon Valley Bank might not lie in the potential for depositors to lose their savings but in the censorship power that massive banks are now accumulating as customers move their money.
If the world is thrust into hyperbitcoinization – as Balaji Srinivasan predicts – before the ecosystem is ready, then even bitcoiners might not be in a position to use bitcoin.
Ashley Rindsberg – a speaker at CoinDesk's Consensus festival – argues that the New York Times has a track-record of dangerous misreporting. Is "DeMe" the answer to what skews to the media?
By taking aim at high-profile targets including Coinbase, Justin Sun and Lindsey Lohan, the SEC showed it doesn’t have the resources to effectively police the crypto industry.
Political attacks on CBDCs give a pass to existing government and commercial oversight of financial transactions and forfeits opportunity to shape global standards in accord with American values, says Christopher Giancarlo, co-founder of the Digital Dollar Project.
Fears about mass financial surveillance are real with CBDCs, but banning them, as Republicans have recently proposed, will not help. Instead, more research is needed, says Ananya Kumar.
The putative presidential candidate’s legislation to ban a CBDC at the state level is constitutionally unworkable. But it’s still worrying for the future of money in the U.S., says JP Schnapper-Casteras.