The Glenn Show Yaya Fanusie – The Challenges of Crypto Security
May 23, 2025
Yaya Fanusie, an adjunct senior fellow at the Center for a New American Security, dives into the complexities of crypto security and regulation. He discusses North Korea's sophisticated cyber heists targeting cryptocurrency, and the partisan divide in U.S. regulatory approaches. Fanusie also explores how stablecoins can empower nations with unstable currencies and warns about the risks of memecoins. The conversation highlights the challenges of embracing digital currencies while navigating the blurred lines between innovation and security.
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Bitcoin Solves Double Spending
- Bitcoin solves the double spending problem by decentralizing the transaction ledger to prevent copying money.
- It uses a consensus mechanism and cryptography to ensure each transaction is unique and verifiable by anyone on the network.
Tracking Terrorist Bitcoin Fundraising
- Yaya discovered a terrorist financing campaign raising Bitcoin unknowingly while working in think tank research.
- The public ledger allowed analysis without government-issued subpoenas, highlighting crypto's unique transparency.
Crypto Policy Divides Along Parties
- The Biden administration approaches crypto regulation with caution, focusing on risk management and protection.
- The Trump administration embraced crypto innovation, creating a partisan divide in crypto policy.