Elizabeth Warren vs. the Volcanoes

Happy Thursday, Blockfolians

The Lede

Yesterday’s Senate Banking Committee hearing was nominally about central bank digital currencies. But led by Senator Elizabeth Warren, it became a referendum on Bitcoin.

Much of it was the same old FUD we’ve heard over and over:

Increasingly though, there is a sense that this narrative battleground is about setting up the justification for a central bank digital currency with strong surveillance property.

“And then they fight you?”

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Highly Relevant Reading

  • State Street Bank has launched a crypto division

  • IMF says El Salvador actions bring up concerns

  • Basel Committee says banks can hold bitcoin, but only with strict capital requirements

  • Kraken to halt U.S. margin trading


Community Commentary

He’s not wrong though
Maybe the inflation narrative has room to run

A Really Big Number We Should Be Paying Attention To

$380m

That’s the amount that Ledger just raised


Final Thought

Lol.