The White House has noticed the crypto shenanigans of the last year, and presumably its denizens are not especially pleased about them.
Of particular note: “While congressional action in these areas would be welcome, Congress could also make our jobs harder and worsen risks to investors and to the financial system.”
This post, about working as a social media manager for creators who work on “the pre-eminent marketplace for digital sex work,” is both fascinating and deeply depressing. It’s beautifully-written, and after reading it, I needed to go outside and touch some grass.
[elizamclamb.substack.com]
Didn’t they just have record-breaking profits?
...And violating its own guidelines in the process.
The commingled funds make it difficult to sort out whether Binance can meet redemption requests for its 94 B-tokens. Good luck out there — I think a lot of you will need it.
Everything that happens on the Bitcoin and Ethereum blockchains is public. Now, after several years of law enforcement using those public transactions to prosecute, it seems crypto enthusiasts have decided privacy matters.
If so, this deep dive from the podcast Odd Lots is fantastic.
Three Arrows Capital and BlockFi were both borrowing from Genesis in order to get involved with a Grayscale arbitrage trade... and now Genesis is bankrupt. Of course, this is also why CoinDesk is up for sale, since Genesis, Grayscale, and CoinDesk share a parent company.
Can Duruk, writing for The Margins newsletter, considers how AI-generated content will make Google’s problem with SEO sludge worse:
Even today, my inbox is full of companies who are ready to create content for my company using GPT-3 or whatever. I hate it! But what choice do I have if that’s the only way to get in front of my customers? The content game on the internet is forever going to be altered with the cost of content generation dropping to fundamentally zero.
[www.readmargins.com]
Charles Hoskinson, co-founder of the Cardano blockchain, is threatening to buy and ruin CoinDesk, which is probably my favorite source for crypto journalism. I hope he stubs his toe very hard and that someone worthwhile buys CoinDesk.
Loved this Bloomberg review of how the fake meat market went awry.
Here’s some free advice for all you VCs: the “crunchy set” is the actual market for meat replacement, so make black bean burgers with sweet potatoes and quinoa if you want to succeed. Good talk!
The Transaction Record Analysis Center has been used by more than 600 law-enforcement entities to surveil money sent across US borders without a warrant. Among the data? Your name, how much you sent, and who you sent it to.
“One slideshow prepared by a TRAC investigator showed how the program’s data could be used to scan for categories such as ‘Middle Eastern/Arabic names’ in bulk transaction records,” the WSJ reports.