• U.S. Senator Cynthia Lummis speaking at the 2021 Young Women's Leadership Summit at the Gaylord Texan Resort & Convention Center in Grapevine, Texas, June 11, 2021. (Photo: Gage Skidmore)
    Regulation,  United States

    Sens. Lummis and Gillibrand Issue Serious, Thoughtful Crypto Proposal

    Responsible Financial Innovation Act isn’t perfect, but it’s a hell of a start

    June 10, 2022 /

    On Tuesday, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY), introduced the Responsible Financial Innovation Act, aimed at — finally— creating a real regulatory framework for digital assets. The senators stated in their press release that the goal of the legislation was to encourage “responsible financial innovation, flexibility, transparency and robust consumer protections while integrating digital assets into existing law.” This is a laudable goal. And painfully overdue. But as with any legislation—especially a groundbreaking bill in a fast-changing part of technology—it’s very tough to assess this proposal’s strengths. We read the entire 69-page bill. And there’s even a helpful 6-page summary. To our eyes, this proposed legislation is a rock-solid…

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  • Commentary,  Opinion

    How the Lessons of Enron and Theranos can Inform Crypto Investors

    Luna Terra / UST scandal proves we’ve still got plenty of hubris

    June 9, 2022 /

    Business leaders and investors are naturally drawn to the next big thing. Being an early investor in an exciting project can bring not only massive returns, but it can also bring much needed innovation and credibility to your investment portfolio. What if you are the first to see promise in the next Bitcoin? However, for every exciting new venture, there are just as many fraudulent companies. The collapse of Enron, the mortgage-backed security failures, Theranos, and the massive swings in the crypto market are the direct consequence of ignoring the fundamentals and riding the hype, greed, and ignorance train. Despite the naysayers and FUD surrounding it, blockchain technology and crypto…

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  • CEO of Injective Labs, Eric Chen's head shot
    Innovators,  People,  Technology

    Injective Protocol

    Modern Consensus talked to Eric Chen, CEO of Injective Labs

    March 12, 2022 /

    An introduction Eric Chen is CEO and co-founder of Injective Labs, a core contributor behind the Injective decentralized exchange. Injective Protocol decentralized exchange protocol (DEX) backed by big names like Binance and Mark Cuban. The protocol is designed to be permissionless, fully decentralized, and fast with low gas fees. It runs on a governance proposal procedure, community members are a pivotal part in all of Injective’s decisions. “Injective is purely community driven. Governance dictates everything.” What is Injective Protocol? “It’s pretty similar to the overall model of Uniswap. Which is basically all the protocol upgrades and contract upgrades are dictated by the community, a governance vote is required for major…

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  • Ukraine International Banner via Pixabay
    Technology

    Ukraine Is Doing a Crypto Airdrop

    Donors earn rewards

    March 2, 2022 /

    Press play to hear a narrated version of this story, presented by AudioHopper. Airdrop On March 1st, Ukraine announced an airdrop for anyone who made a crypto donation for the country. “Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours).” Ukraine has received over $30 million in crypto donations in the last week. This is a relatively small number compared to donations made directly through organizations or through war bonds. That being said, Ukraine is still using an airdrop as an incentive to get more people to donate with crypto. Anyone can make donations with crypto, whether they’re using an exchange or…

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