• 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

    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…

  • Bitcoin,  Latin America

    Weekly Bitcoin Review

    Issues with El Salvador’s Chivo wallet and Bitcoin dominance diminishing

    Bitcoin dominance waning  The price of Bitcoin has seen a solid recovery over the last week. It currently sits around $51,200. Yet other assets have once again outperformed Bitcoin this week. Cardano (ADA) is up 23% this week, Polygon (MATIC) is up 25% in the week, and Polkadot (DOT) price is up over 30%. In contrast, Bitcoin price is up 9% this week, which is still nothing to scoff at. This does show that coins on smaller networks are beginning to gain more traction, lowering the dominance Bitcoin has shown over the cryptocurrency market for its entire run. However, this is not due to a lack of people buying or…

  • Cryptocurrencies,  People,  Politics,  Technology,  United States

    Can Cryptocurrency Disrupt The Dollar?

    Meme token pumps, politicians give their take, and old vs new money

    Santa Floki On Christmas day, Elon Musk made a seemingly harmless tweet about his dog, Floki, wearing a Santa Claus costume. The CEO of Tesla and SpaceX generates social media buzz with nearly every tweet he makes. This tweet in particular caused some select individuals to make a lot of money. Santa Floki (HOHOHO) is one of the thousands of dog based meme tokens that float around the cryptocurrency community. The meme token has seen gains of over 5000% in a couple days, all because of an Elon Musk tweet. Musk was not referring to the Santa Floki token, but was literally making a Twitter post about his dog for…

  • Commentary,  Cryptocurrencies,  Education,  Innovators,  Regulation

    What are DAOs?

    How decentralized autonomous organizations communicate and function

    DAOs and how they communicate  A Decentralized Autonomous Organization (DAO) is an organized community on the Internet that pools funds together in an effort to achieve a common goal. DAOs are often run using Ethereum (ETH) tokens, but they can have their own governance tokens specific to the project as well. The DAOs that tend to get news coverage are those that fail at their goal, or that get hacked and lose millions. It’s conventionally unfair to use that as a reason to disparage the decentralized organizations, as the same thing also happens to normal LLCs.  Discord is a platform that users can use to create servers for a variety…