Discussion

• @caitlinlong_ Caitlin Long on x

  1/ @NYtimes story on #crypto/#banking deserves a thoughtful reply. Issue isn't black & white: anti-crypto forces try to paint us all w/ a broad brush. Bad actors deserve to be called out, but the article ignores fact that regulatory-compliant firms exist. https://www.nytimes.com/…

• @carol_vancleef Carol Van Cleef on x

  Thanks to @CaitlinLong for thoughtful commentary on a bit odd @NYtimes front page #crypto story. Nothing new, a little skewed, not overly insightful and sorely lacking expertise. Were the reporters expecting some breaking news that didn't come this week? https://twitter.com/...

• @rebeccaspang Rebecca L. Spang on x

  Haven't paid attention to crypto lately? you can start here. As a historian, I am struck by the article's use of “traditional”—yes, FDIC insurance is a “tradition” but one that goes back only to 1930s. “Traditional chartered banks” have state histories https://www.nytimes.com/...

• @flitteronfraud Emily Flitter on x

  Read ⁦@EricLiptonNYT⁩ & ⁦@el72champs⁩ on the financialization of crypto — and how unprepared regulators are to handle it https://www.nytimes.com/...

• @erikvoorhees Erik Voorhees on x

  This Sept 5 @NYTimes article is mandatory reading. Front page print edition. https://www.nytimes.com/... Observe how they cast the issue as one of “protecting the public” when what they mean is protecting the fiat banking system. It cannot be protected, for it is already over.

• @ericliptonnyt Eric Lipton on x

  The rapid move by cryptocurrency into banking is setting off alarms in Washington. There's a surge in crypto platforms offering bank-like services, giving out billions of dollars in loans and super high-yield on deposits—all without FDIC insurance. https://www.nytimes.com/...

• @jamesdoleman James Doleman on x

  This isn't going to end well. https://www.nytimes.com/...

• @nytpolitics @nytpolitics on x

  The boom in companies offering cryptocurrency loans and high-yield deposit accounts is disrupting the banking industry and leaving regulators in Washington scrambling to catch up. https://www.nytimes.com/...

• @moonalice Roger McNamee on x

  Move fast and break things, part infinity. https://www.nytimes.com/...

• @lay2000lbs Leighton on x

  Spot the contradiction in the @nytimes 1. Don't use stable coins because they aren't backed by anything. 2. Ban banks from holding deposits backing stable coins. https://www.nytimes.com/... https://twitter.com/...

• @jenmetzgerny Jen Metzger on x

  Shadow banking, rampant speculation, poor regulation and zero consumer protections—if memory serves, those were all key ingredients to the 2008 financial crisis. https://www.nytimes.com/...

• @silvermanjacob Jacob Silverman on x

  “in California, where BlockFi first sought a lender's license, officials initially advised it to instead apply for a pawnbroker license” https://www.nytimes.com/...

• @jonlemire Jonathan Lemire on x

  The entry of crypto into banking is disrupting the world of financial services so quickly and unpredictably that regulators are far behind, potentially leaving consumers and financial markets vulnerable. https://www.nytimes.com/...

• @ericliptonnyt Eric Lipton on x

  JUST POSTED: Federal banking regulators are a cautious bunch, careful re every word to avoid unintended market shifts. Yet they've offered repeated warnings recently re potential economic threat presented by cryptocurrency's so-called stablecoins What's up?https://www.nytimes.com…

• @jeffreyatucker Jeffrey A Tucker on x

  The horse and buggy industry is getting increasingly concerned about the advances made by the upstart motorcar industry. https://www.nytimes.com/...

• @chainlinkgod @chainlinkgod on x

  Preventing users from getting token airdrops and earning revenue from non-custodial and immutable smart contracts is not “protecting investors,” it's protecting the establishment and financial rent-extracting middlemen through regulatory capture https://www.nytimes.com/...

• @ericliptonnyt Eric Lipton on x

  Cryptocurrency was created, in part, to break free of sovereign control and the dollar. But now cryptocurrency coders have built a parallel crypto banking system where a dollar-based “stablecoin” is king. And the risks are real—and largely unregulated. https://www.nytimes.com/...