The Digital Dollar Becomes A National Security Issue
Plus one crypto hedge fund's impressive 2020 performance
Happy Thursday, Blockfolians
Yesterday the U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy held a hearing on “Winning the Economic Competition” i.e. beating China.
There were 5 witnesses called to discuss issues including supply chains, technology like 5G and - you guessed it - the digital dollar.
One of the witnesses was Christoper Giancarlo, the former CFTC Chair known as “Crypto Dad,” and current head of the Digital Dollar Project.
Perhaps most interesting were comments from Subcommittee chair Tom Cotton, who said (from CoinDesk):
“For us, maintaining the dollar’s supremacy is not only an economic matter, it is a critical strategic matter as well. It is what allows us to have such effective sanction regimes around the world as well as other benefits,”
In other words, the digital dollar is increasingly seen at the highest levels as not just an economic, but a geostrategic question. Expect to see more on this in the weeks and months to come.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
Highly Relevant Reading
US House Defense Spending bill passes with two blockchain-related amendments
NBA star Spencer Dinwiddie’s token sale sells only 10% of available inventory
Alibaba’s fintech arm Ant Group has launched a new blockchain brand AntChain
As Gas fees rise, is Ethereum a victim of its own success?
Here’s a bit of history for you - it was on this day in 1946 that the Bretton Woods agreement was signed, setting the stage for our current global monetary system
A Really Big Number We Should Be Paying Attention To
That’s the growth in Arca’s flagship crypto fund - impressive performance for a tough year
Ok Peter that’s a pretty good troll.