Click Here Mic Drop: In crypto’s defense
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Jun 6, 2025 Omid Malakad, a crypto and blockchain educator at Columbia Business School, dives into the aftermath of a polarizing dinner that linked political figures with cryptocurrency. He questions the legitimacy perceived by the crypto community amidst skepticism. The discussion highlights how political influence shapes investor confidence, explores the dual-nature of crypto through controversial figures, and outlines the dynamic transformation of the industry, including the rise of stablecoins and legislative efforts to legitimize them.
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Crypto's Controversial Transparency
- Crypto is a community familiar with controversy and hype cycles.
- Transparency in crypto actions, even controversial ones, is valued within the community.
Tiramisu Theory of Crypto Evolution
- Crypto often unfolds in layers: exciting ideas, followed by foolish derivatives, then true innovation.
- Meme coins represent the "stupid" layer, while stablecoins show promise in the "brilliant" layer.
Why Stablecoins Matter
- Stablecoins are digital assets pegged to real currencies like the US dollar.
- They enable faster, cheaper, and borderless financial transactions with expanding real-world applications.