Parallax Views w/ J.G. Michael The Crypto Industry's Capture of American Politics w/ Jacob Silverman
Jun 9, 2025
Jacob Silverman, a journalist and author specializing in technology and finance, examines the startling rise of the crypto industry’s influence in American politics. He discusses the industry's shift from a niche interest to a political powerhouse, including Donald Trump's engagement with memecoins and the troubling harassment of SEC officials. Silverman shares insights from a Bitcoin conference, revealing how crypto culture is intertwining with MAGA politics and redefining discussions around regulation, power, and democracy.
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Crypto Meets MAGA in Vegas
- At the Vegas Bitcoin conference, MAGA and pro-Trump themes dominated over libertarian roots.
- Prominent Republicans and crypto industry leaders united, expressing gratitude to Trump for protecting them.
Crypto's Unmet Promises
- Crypto hasn't achieved its stated goals and its narrative changes frequently.
- Bitcoin's performance hasn't translated into shared prosperity or economic transformation.
Crypto's Economic Reality
- Most people lose money in crypto due to rigged markets and rampant fraud.
- Crypto’s core value lies in enabling legal arbitrage in a poorly regulated financial parallel system.