Some of the world’s biggest football clubs are using their supporters’ loyalty to sell them blockchain assets, “fan tokens,” and NFTs. The crypto takeover of football promises to empower supporters — but in truth, it’s just marketing fluff for a web of pyramid schemes.
Years of efforts by crypto interests — most prominently, Sam Bankman-Fried — to deregulate the industry have finally paid off. Last month regulators at a small federal agency allowed a cryptocurrency firm to vertically integrate, endangering customer assets.
Sam Bankman-Fried, apostle of “effective altruism,” has done one good thing for humanity: he’s revealed that finance, and particularly crypto, is a wasteful cesspool that must be reined in.
Sam Bankman-Fried fanned the flames of crypto madness. And he couldn’t have done it without his powerful friends.
Crypto millionaires are attempting to buy an island in the Southwest Pacific. It’s the latest in a long line of schemes by libertarians asserting the rights of private capital above all else.
The crypto takeover of European football promises to empower supporters — but in truth, it’s just marketing fluff for a giant pyramid scheme.
After pouring unprecedented amounts of money into races across the ballot this election season, the cryptocurrency industry will now have the most political influence it has ever had.
The blockchain industry is coming under increasing scrutiny — but that isn’t stopping crypto interests from enlisting allies in Washington’s halls of power.
The next time a speculative bubble is massively inflating around a fancy new asset like cryptocurrency and financial carnival barkers are screaming it will change everything, remember Sam Bankman-Fried and how quickly all of his promises proved to be bullshit.
For all its utopian trappings, web3 tech like cryptocurrency only deepens the problem of elite control over the internet. We have an alternative.
More than half of the top 15 crypto-PAC-backed candidates during the 2024 campaign season were Democrats.
The Trump White House has helped install the ticking time bomb that is cryptocurrency directly into our economy. When it blows up, the damage will be catastrophic.
With Donald Trump back in the White House, the floodgates for cryptocurrency scams have been flung wide open.
Right-wing dark money groups are lobbying for the US and state governments to invest billions of dollars in Bitcoin reserves, jeopardizing public funds and the environment alike.
The US Senate is poised to pass a financial deregulation bill ensuring that when a bank goes out of business, the savings of cryptocurrency owners would be made whole before those of other bank customers.
Bitcoin was not just a consequence of public disillusionment during the 2008 financial crisis — it was also a response to neoliberal monetary policies that saw money as somehow above politics. But questions about monetary policy are questions about democracy.
Donald Trump’s embrace of cryptocurrency, which is dominated by the most reactionary and stupid representatives of the tech industry, has made it a partisan issue. But it might turn out to be a misstep.
Sam Bankman-Fried was found guilty this week for running a crypto scam and faces years in prison. It seems jurors weren't taken in by SBF like famed author Michael Lewis, whose new book paints an oddly sympathetic portrait of Bankman-Fried.
El Salvador’s president, Nayib Bukele, had a mandate for change. He used it to build a police state and buy coin.
Liberals tend to worship a specific kind of hero: highly credentialed, media-friendly, foe of both conservative Republicans and “liberal pieties” — someone exactly like former FTX CEO Sam Bankman-Fried, cryptocurrency failure extraordinaire.