Congress seems drugged and inert most of the time. Even when the problems it ignores build up to crises and erupt in strikes, riots, and demonstrations, it has not moved. Its idea of meeting a problem is to hold hearings or, in extreme cases, to appoint a commission. – Representative Shirley Chisholm, writing in her book Unbought and Unbossed The U.S. Constitution vests in Congress the power to create laws and in the executive branch the responsibility of implementing and enforcing those laws, while the judicial branch interprets laws and assures they do not violate the Constitution. This vaunted system of checks and balances is designed to ensure a…
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Thawing Out Cold Storage
Putting some BTC to work in DeFi while keeping the rest offline
With a market capitalization of $660 billion as of this writing, bitcoin is not only the first and oldest cryptocurrency, it’s the largest store of value – fully 53% of the total value of all cryptos tracked by CoinMarketCap. And bitcoin true believers are notorious for holding onto their BTC for the long term. In April the percentage of BTC that had not moved in 2 years hit an all-time high of 53%, and almost 29% of all bitcoin in circulation hadn’t moved in 5 years ($150 billion of market cap at the time). In fact, it’s a notable event when a very old BTC address sends funds for the…
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SEC Chairman Jay Clayton discussing Bitcoin at CNBC's Delivering Alpha conference, September 19, 2019 (via YouTube.com / CNBC).SEC’s Jay Clayton casts more doubt on Bitcoin ETF
Speaking at the Discovering Alpha conference in New York, the commission’s chairman said people who think an unmanipulated bitcoin price can be found are ‘sorely mistaken’
Securities and Exchange Commission Chairman Jay Clayton again threw cold water on the idea of listing Bitcoin on an exchange traded fund (ETF) anytime soon.
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Must-reads for August 23, 2018
Here are the crypto stories you should be watching today
SEC rejects bitcoin ETFs (CNBC) Crypto bros are used to getting a lot of rejections, especially on Tinder. Now it’s the Securities and Exchange Commission turn, rejecting seven bitcoin-based exchange-traded fund. Bitcoin prices remain above $6,000, perhaps because it was mostly priced in. Obviously, everyone read the Modern Consensus piece about why the SEC shouldn’t approve such ETFs in the first place. A cryptocurrency is making huge inroads in Venezuela as inflation runs wild — and it’s not bitcoin or the petro (Business Insider) Spoiler alert: The cryptocurrency they’re talking about is Dash. Hey, maybe one of the upsides to a regime marked by terror, failed financial planning, corruption, persecution…
