Why Is This Happening? The Chris Hayes Podcast Crypto in Trump 2.0 with Zeke Faux
22 snips
Feb 11, 2025 
Zeke Faux, a Bloomberg News reporter and author of "Number Go Up," dives deep into the chaotic world of cryptocurrency. He discusses Donald Trump's shifting stance on crypto and the emerging influence of meme coins in politics. Faux highlights the complexities of tracking profits in decentralized exchanges and critiques the obsession with crypto gambling. He explores the speculations behind meme coins, their community-driven value, and the ethical concerns surrounding these trades, providing insights into the evolving crypto landscape.
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Crypto's Shift to Speculation
- Cryptocurrencies like Bitcoin were initially intended as alternative payment systems outside government control.
- Now, crypto is primarily used for financial speculation, similar to gold or Beanie Babies.
Number Go Up
- Zeke Faux recounts his experience at a Bitcoin conference where the focus was solely on price increase.
- He compares the limited supply argument for Bitcoin's value to VHS tapes of Toy Story, highlighting the flawed logic.
Government Adoption of Bitcoin
- El Salvador adopted Bitcoin as legal tender, fueling hopes of wider government adoption.
- Donald Trump later suggested a strategic Bitcoin reserve, further boosting the speculative frenzy.
