The New York Times has long had an implacable animus towards all things blockchain, and last week decided to double down by publishing a stupid and dishonest op-ed titled “Crypto is pointless. Not even the White House can fix that.” Authored by a pair of economists from the Biden administration, the piece seized on Bitcoin dipping below $70,000 to make the case that this time the crypto industry is truly cooked, and that blockchain technology is just a glorified database that even Big Tech firms won’t touch. The authors top this off by claiming the previous administration made a good faith effort to work with the crypto industry, but had to take a tougher approach in the wake of the Sam Bankman-Fried scandal.
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The law is messy. It’s fragmented across jurisdictions and much of it isn’t fully digital. It changes constantly.
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