The Gist CryptoDad’s Pirate Clause: Reviving Letters of Marque
14 snips
Aug 20, 2025 
Christopher Giancarlo, the former CFTC chair and dubbed "CryptoDad," dives into the need for a U.S. crypto reserve akin to gold. He recalls a memorable summit that highlighted the significance of digital assets and proposes reviving letters of marque to target today's digital pirates. The conversation also touches on the alarming rise in D.C. homicide rates, contrasting this reality with the city's perceived safety. Giancarlo’s insights on cryptocurrency security and regulation add a thought-provoking layer to the discussion.
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East Wing Signal
- The White House hosted a crypto summit in the East Wing, signaling a shift from prosecution to celebration of the industry.
- Christopher Giancarlo views this as symbolic of a major policy and cultural reversal toward crypto.
Sam Bankman‑Fried Changed The Politics
- Sam Bankman-Fried's collapse politicized crypto and shifted many Democrats toward hostility.
- That politicization opened an opportunity for Trump to make crypto a partisan campaign issue.
Build A Crypto Reserve
- Create a U.S. crypto reserve to act like oil or gold reserves for domestic stability and market leverage.
- Use reserves to smooth global price swings and gain defensive and offensive policy tools.
