i really want to believe that NYT is trustworthy but that has become nearly impossible the whole framing of this new crypto story (yet again) relies on the (false) premise that the prior admin’s attack on crypto totally normal it wasn’t the attack was widely rebuked for years — by bipartisan members of congress, by federal courts, by basically anyone that wasn’t part of a small cabal of elizabeth warren-aligned officials. mainstream democrats never took up her cause. one time the dem senate voted overwhelmingly to overturn an insane SEC policy and biden was forced to VETO it these partisans, who often owed their jobs to a deal struck between biden and warren during the 2020 campaign (widely reported) included consequential appointees in the biden admin who previously worked directly for her, or those who she personally approved. these partisans included staffers for regulators who immediately went to warren-aligned non-profits like better markets and the consumer federation of america. these included entrenched officials inside banking regulators, who have now been exposed for inappropriately targeting legal industries so the idea that the regulatory pivot on crypto over the last year is somehow because of the president’s personal interest, and not because the prior regulatory posture was absolutely INSANE, is dishonest framing that ignores 4 years of direct attacks by the actual partisans this type of reporting relies on the readership being uninformed, which unfortunately too many are. this relies on Gell-Mann Amnesia and the “paper of record” is actively promoting crypto dementia

bet on Polymarket

an even more thorough explanation of why framing the SEC pivot as surprising or “irregular” is totally misleading

One of the downsides for crypto in being embraced by admin is media now hates it by association. Won’t get fair treatment.