Source: Fortune
Summary
The New York Times published an op-ed titled “Crypto is pointless. Not even the White House can fix that.” The article, written by two economists from the Biden administration, claims that blockchain technology is just a glorified database and that the crypto industry is cooked. The authors also mention the Sam Bankman-Fried scandal as a reason for the previous administration’s tougher approach to crypto regulation. However, the article has been criticized for its biased and inaccurate representation of the crypto industry.
Our Reading
The numbers tell one story.
The New York Times’ op-ed on crypto sounds familiar, with its claims of blockchain being just a database and the crypto industry being cooked. The authors’ attempt to tie the Sam Bankman-Fried scandal to the Biden administration’s regulatory approach is also a familiar narrative. Meanwhile, financial giants like BlackRock and Fidelity are accelerating their embrace of digital assets. The real question is why pieces like this get published in the first place.
One original observation: The media’s anti-tech worldview is showing its hand.
Author: Evan Null
