Cryptocurrency Market - Is There a Legislative Buoyancy in the Crypto Market?

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There have been a lot of people harmed by not just the collapse of terra and luna, but also by the broader collapse that has occurred in the crypto industry over the past six months. I generally don't want to blame the people who are just buying in. And i think it's kind of more broadly er. I talked about this little bit once witha ben mackenzie and jacob silver. They were referring to what they were referring to as casino capitalism,. You can't watch tevie without being bombarded with ads for crypto or for gambling, or for all of these things.

Paris Marx is joined by Bennett Tomlin to discuss last week’s crash of Terra and Luna, the problems with stablecoins, and whether this collapse will finally force regulators to take action on cryptocurrency.

Bennett Tomlin is a co-host of Crypto Critics’ Corner and writer of the FUD Letter. Follow Bennett on Twitter at @BennettTomlin.

Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.

Find out more about Harbinger Media Network at harbingermedianetwork.com.

Also mentioned in this episode:

Paris wrote about the Terra/Luna collapse and why we can’t let those who promoted crypto scams escape blame for their actions.
Bennett references George Soros’ attack on the British pound in 1992, also known as Black Wednesday.
Do Kwan was behind the failed Basis Cash stablecoin.
Vitalik Buterin backed a proposal for an FDIC-like response to rescue “small holders” who lost money in the Luna collapse.
Investors recently pulled $7 billion out of Tether, which still won’t be open about its reserves. It was hacked in 2017.
FTX CEO Sam Bankman-Fried described yield farming as a Ponzi scheme.
Justin Sun has already launched a copycat of the failed Terra algorithmic stablecoin. The Verge did a deep dive on him in March.
a16z says the crypto winter is here.