Man Loses Life Savings to Phony Bitcoin iOS App- Over a Million Dollars in BTC Drained

Man Loses Life Savings to Phony Bitcoin iOS App- Over a Million Dollars in BTC Drained

Just recently, an individual lost all of his life savings in a matter of no time after he downloaded a malicious and phony Trezor application onto his iOS smartphone from Apple’s App Store. Phillipe Christodoulou lost 17.1 bitcoin or over a million dollars worth of the cryptocurrency using today’s exchange rates. Christodoulou detailed that he’s more upset with Apple than the hackers who stole his precious digital assets.

Individual Loses His Life Savings- 17 Bitcoin Gone

Malicious and phony applications for smartphones can be a problem for crypto users and not too long ago, Phillipe Christodoulou, lost over 17 BTC. At the time of the theft his stash was worth over $600k, and today it would be well over a million dollars. On that particular occasion, Christodoulou wanted to check his balance, so he headed over to Apple’s App Store and downloaded the fake Trezor application for iOS. However, Trezor doesn’t offer such an application and in fact, the company had been warning about the problem for some time now.

On December 2, 2020, the hardware wallet manufacturer tweeted about a similar scam application on Google’s Play Store. “A warning to all the Android users owning Trezor devices,” the company warned at the time. “This app is a scam and has no relation to SatoshiLabs and Trezor. We’ve already reported it to the Google team. Always confirm any action on your device and never type seed words until your Trezor asks you to.”

Coalition for App Fairness Executive Says ‘Apple Pushes Myths About User Privacy and Security’

The application Christodoulou downloaded was not only a phony decoy, but the malicious hackers also stole his funds. Christodoulou says he’s more heated at Apple and he was once a loyal Apple customer. “They betrayed the trust that I had in them,” Christodoulou detailed to the press. “Apple doesn’t deserve to get away with this.” Apple is supposed to do due diligence and applications downloaded from the App Store are touted as safe.

“Study after study has shown that the App Store is the most secure app marketplace in the world,” Apple spokesperson Fred Sainz stressed. However, according to a report from the Washington Post, Meghan DiMuzio, executive director of the Coalition for App Fairness disagrees.

“Apple frequently pushes myths about user privacy and security as a shield against its anti-competitive App Store practices,” DiMuzio explained. “The truth is, Apple’s security ‘standards’ are inconsistently applied across apps and only enforced when it benefits Apple.”

What do you think about the guy who lost 17 bitcoin from the scam application? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

BlackRock SEC filings show $360K gained from Bitcoin futures

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Ren price rallies 40% after adding LUNA, SOL and FTM to its ecosystem

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

British Minister Says Stablecoin Regulation is Priority

British Minister Says Stablecoin Regulation is Priority

A British government official stated that Britain’s primary focus would be to regulate stablecoins, rather than the extensive cryptocurrency market.

Stablecoins’ Perceived  Threat Propels Calls for Regulation

According to Reuters on Tuesday (Mar. 30, 2021), Britain’s Economic Secretary to the Treasury, John Glen, made the statement while speaking at a City and Financial conference. Glen’s call for stablecoin regulation stems from the fact that the minister believes stablecoins are a threat to competition.

The British minister also noted that stablecoins have grown to become the “largest component of cryptocurrencies by trading volume.” However, while no major company was yet to issue a stablecoin, the story could change overnight.

An excerpt from Glen’s statement reads:

“There is the potential for some firms to swiftly achieve dominance and crowd out other players, due to their ability to scale and plug into existing online services.”

Social media giant Facebook made headlines back in 2019 when it announced that it was planning to launch Libra. However, governments and regulators globally kicked against the project, stating that it could threaten the financial stability of sovereign countries. 

After receiving lots of regulatory backlash, the team behind Libra changed the project’s whitepater. In a bid to further appease regulators, the Libra name was rebranded to Diem in December 2020. Prior to the name change, a dollar-pegged stablecoin was supposed to launch in early Q1 2021.

Unlike other jurisdictions who are looking to introduce or already have laid down regulations for the crypto industry, Glen thinks otherwise. According to the British government official, there is no immediate need to regulate the general cryptocurrency sector. 

Glen, however, seems to favor blockchain technology, stating that Britain would encourage the use of distributed ledger technology (DLT).

Meanwhile, the Financial Conduct Authority (FCA) said that it was not possible to use the current rules on electronic money to regulate stablecojns. According to the FCA’s head of consumer distribution policy, Alex Roy, “the e-money regime isn’t a perfect match for crypto.”

Governments Paying Attention to Stablecoins

Prior to Glen’s statement, the UK authorities have been making plans to i8ntroduce a regulatory framework for stablecoins. As reported by BTCManager back in November, the UK government opined that stablecoins made payments faster and cheaper.

Recently, the Bank of Thailand (BOT) said is consulting with market regulators and participants before issuing regulations for stablecoins in 2021. 

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BlackRock is trading Bitcoin futures, how much BTC is held by institutions?

Per a Coindesk report and a regulatory filing with the Securities and Exchange Commission (SEC), investment firm BlackRock has begun trading in Bitcoin futures.  BlackRock has reportedly allocated a small part of its portfolio in BTC on the Chicago Mercantile Exchange financial derivatives platform.

With $8.6 trillion in assets under management (AUM), BlackRock is one of the largest investment firms in the world. In an interview for CNBC, BlackRock CIO Rick Rieder stated in February they had “started to dabble” in Bitcoin.

According to the document, BlackRock invested $6.5 million in 37 futures contracts on the CME BTC-based derivatives. At the time of the allocation, BlackRock’s position was estimated to roughly represent far less than 1% of the firm’s investment fund. The firm claims gains of $360,000 on its initial investment. There is speculation that the contracts expired on March 26.

In the interview, Rieder stated that the current macroeconomic environment has forced investors to look for storehouses of value. Assets such as BTC offer appreciation and hedge against inflation, Rieder added:

My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up (…). I wouldn’t put a number on the percentage allocation one should have, depends on what the rest of your portfolio looks like.

6% of Bitcoin supply held by institutions

At the time of writing, Bitcoin is trading at $58,722 with gains of 0.7% on the 24-hour chart. On the weekly and monthly chart, BTC posts gains of 8% and 31.1% respectively with a market cap of $1.09 trillion.

Bitcoin BTC
BTC on the rise in the 24-hour chart. Source: BTCUSD Tradingview

Earlier, Goldman Sachs announced the launch of its Bitcoin offering for its wealthiest clients. Comprised of a selection of products including Bitcoin futures and direct exposure to the cryptocurrency, the banking institution stated that they received pressure from their clients.

Something similar claimed Morgan Stanley a few weeks ago when it announced the rollout of 3 funds that will give exposure to BTC for its clients with accounts of more than $5 million. In recent days, cases of institutional adoption of BTC have been on the rise. Many represent a radical change in the institutions’ stance.

Data from Bitcoin Treasuries indicates that institutions that have purchased BTC are in possession of about 6.54% of its total supply or $79,494,670,635. MicroStrategy holds the largest amount with 0.4% of the supply or 91,326 BTC, followed by Tesla with 48,000 BTC and 0.2% of the supply.

PARSIQ’s IQ Protocol Launches, Powering the Tokenized-SaaS Ecosystem of the Future

PARSIQ’s IQ Protocol Launches, Powering the Tokenized-SaaS Ecosystem of the Future

PRESS RELEASE. PARSIQ launches its highly anticipated IQ Protocol – the first risk-free collateral-less decentralized finance protocol built specifically for the Software-as-a-Service (SaaS) market.

31st March 2021, Tallinn, Estonia – PARSIQ has launched their revolutionary IQ Protocol on testnet (Ethereum) – a decentralized finance (DeFi) solution for the SaaS market. IQ Protocol is the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions in the DeFi space with a circular economy. IQ Protocol features several standard DeFi services, including staking, lending, and borrowing.

The launch marks PARSIQ’s official entry into the DeFi space. If the testnet release is successful, IQ Protocol’s mainnet is scheduled to launch in Q2 this year, and the team already has interest from several DeFi projects. Furthermore, the PARSIQ team is considering launching the mainnet on several other chains, including Binance Smart Chain (BSC), and Solana (SOL), with which PARSIQ has already integrated.

IQ Protocol & Power Tokens

The IQ Protocol brings a new perspective to DeFi solutions for the mainstream environment. Not only is the maintenance of the protocol’s network fully-trustless, but the protocol itself is open-source. Additionally, PARSIQ’s innovative decision to remove the requirement of collateral to participate in or build on IQ is another first for the DeFi space, nullifying the risks associated with DeFi participation.

IQ Protocol also takes an innovative approach to token utility through the introduction of Power Tokens. Unlike conventional utility tokens which represent a fixed amount of utility, Power Tokens generate utility over time. Therefore, holders of Power Tokens “subscribe” to utility rather than possessing a fixed quantity.

For example, the conventional “tomato token” would represent rights to collect 1 kg of tomatoes, whereas a Power “tomato token” (with weekly flow and expiry in 1 year) would represent a right to collect 1 kg of tomatoes per week for a year.

Power Tokens are housed in a “Power Enterprise” – a series of smart contracts which aggregate several IQ Protocol features, including governance, funding, and the ability to mint new Power Tokens.

The shift to a subscription-first model provides huge performance benefits for blockchain-based networks including off-loading a significant load of transactions away from the main-chain. And in the best case, most main-chain transactions aren’t needed anymore.

Tokenomics

A new, upgraded tokenomics model also accompanies IQ’s launch, requiring users to hold PRQ, PARSIQ’s native token. IQ allows users to borrow or “rent” PRQ via IQ Protocol by paying a fee. In effect, they pay a subscription fee, with the proceeds rewarding lenders in a risk-free fashion. Accordingly, IQ’s model rewards holding in a simple but effective way which also ensures the long-term security of its network.

Strong Partnerships & Developments

IQ’s launch comes after a successful start to the year for the PARSIQ team. The current network recently integrated with the Solana ecosystem, allowing SOL users to combine data streams and write custom scenarios using PARSIQ’s user-friendly scripting language.

PARSIQ also integrated its Smart Triggers feature with data marketplace platform Ocean Protocol. The integration gives Ocean users the ability to automate reactions to specific data inputs using PARSIQ’s unique monitoring solution.

This was also extended to Binance Smart Chain (BSC), with BSC users able to benefit from the same Smart Triggers feature. As part of the BSC integration, PARSIQ also became part of Binance’s $100 million accelerator fund as part of the top-exchange’s efforts to encourage innovative new projects to build on BSC.

Moreover, PARSIQ has integrated with several other projects in the DeFi space, including Balancer, PAID Network, Injective Protocol, and many more. For more on these integrations, check out PARSIQ’s blog.

 

About PARSIQ

PARSIQ is a next-generation blockchain analytics platform built to connect blockchain activity to off-chain applications and devices. It provides a number of innovative solutions for actionable data including customizable event-based triggers, data monitoring solutions, and real-time automation targeted at the SaaS space.

For more about IQ Protocol, PARSIQ, and its future plans, visit PARSIQ’s website.

Connect with PARSIQ on LinkedIn: https://www.linkedin.com/company/parsiq/

Follow PARSIQ on Twitter: https://twitter.com/parsiq_net

Join the PARSIQ community on Telegram: https://t.me/parsiq_group

Read PARSIQ’s blog on Medium: https://medium.com/parsiq

 

Media Contact Details

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: press@bitcoinprbuzz.com

 

About Bitcoin PR Buzz

Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 9 years. Get your Bitcoin Press Release Distribution today.

PARSIQ is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Life on the Run- An Insiders Look at John McAfee on the Run

Life on the Run- An Insiders Look at John McAfee on the Run

I opened my Telegram and noticed I had way more messages than usual. I knew something was askew. The headers of the messages were all very similar, “John McAfee just called you an idiot on Twitter.” Here we go I muttered under my breath as I further investigated what all the hype was about. I wandered over to John’s Twitter account and sure enough, John had tweeted that he was abandoning the Ghost project and that Josh Case is an idiot. Let’s back up…

Life on the Run- An Insiders Look at John McAfee on the Run
**The following essay was written by guest author Josh Case and submitted to Bitcoin.com’s newsdesk to publish as a featured editorial. The work will appear in a book titled “Ghosted,” with never-before-told stories authored by Case. The opinions expressed in this editorial are the author’s own and do not reflect the opinions of Bitcoin.com and its newsdesk. Bitcoin.com is not responsible for or liable for any opinions, content, accuracy, or quality within the article.**

I first met John McAfee at his home in Tennessee in the early days of 2018. I had emailed his manager Jimmy trying to set up a meeting and an interview with John, and I was kind of surprised when they agreed and set a date. I immediately jumped into full research mode and began a deep dive into John McAfee’s history. I had been following him for years, but his story was even more interesting than I had thought.

After McAfee Associates, the company behind McAfee Antivirus, John went on to start a pharmaceutical company, opened a yoga/meditation retreat, tried his hand at real estate, and even ran for the President Of The United States, twice. Some also speculate he developed new recreational drugs, tried to overthrow the Belizean government, murdered his neighbor, and a lot of other things, but these accusations were never backed up with any evidence and were always chalked up as speculation.

A couple of hours from John’s town and I had still yet to receive the address of where I was going. They had told me they wouldn’t send me the address until the day of the meeting, for security purposes, but I was starting to get a little worried. I sent Jimmy a text trying to get the info I needed, but he had yet to read my last few texts, so I didn’t expect a quick reply from this one either. I was listening to an interview with John on Youtube when Jimmy texted me back, and the address flashed across the top of my screen. As I punched it into my GPS my mind was racing with thoughts about how the night would go.

As I approached his house, a really nice two-story home tucked away in a small town, the butterflies started kicking in. I was staying the night at John McAfee’s house, fresh off the bull market of 2017, before anyone even realized 2018 was going to be a bear market. I knew this was going to be a night to remember… And it sure was.

I lugged my stuff to the door, rang the buzzer, and waited for someone to answer. I wondered to myself if John was going to answer? Or one of his security. The door creaks slowly open, and two very large guys, personal security for John McAfee answer the door and ask who I am. I tell them, and they see me into the guest living room. I can hear John in the room next to me whining and dining lawyers and politicians and it’s not long until the guests leave, and the only people left in the house are those that live there. John has his wife Janice of course, several live-in bodyguards, his manager Jimmy, and a couple of others. Friends, traders, etc.

It’s not long until we are all drinking whisky, philosophizing the meaning of life, and being schooled by John on the history and usefulness of suspenders. “Suspenders lost their popularity after WWI, but they are coming back,” John shouted with excitement. “All great men know that you can’t think while wearing a belt, it cuts off your circulation.” John quickly left the room and came back with a pair of suspenders to give to me. “Here, this will change your life,” John proclaimed. I am not a suspenders kind of guy, but I always wonder if John was right. Had I adopted the suspenders when he told me too, and increased my blood circulation, who knows what kind of man I could be today. A friendship was born that day, and John and I began speaking more frequently.

I have always been an idea guy, and like brainstorming concepts and ideas with like-minded people. John McAfee was the same. We began talking almost daily and found ourselves brainstorming all kinds of different concepts in which blockchain and cryptocurrency could solve real-world problems in a meaningful way. We came up with new ideas almost every day, and at times these calls felt more like an exercise in coming up with ideas than actually trying to build any of them. It was just fun talking about ways this technology can and will change the world. One idea we talked about for a few days, that John was always very interested in pursuing, was an app we were calling “History Day One” on our calls.

The concept was this. Imagine if we had verifiable records of random events in history. For instance, if 500 people were to add a tiny note to a blockchain ledger that said something like “On October 2019 at 5:00 p.m., John McAfee gave a speech at Barcelona Blockchain Week”, and they embedded a picture, video, or geolocation tag, showing when and where the event happened, it would give us a very good reviewable history of events all across the world. Users could retain their pseudo-anonymity by doing this with cryptocurrency addresses, but the sheer amount of volume of entries per event would lend credence to its authenticity.

After talking nearly every day for months, all of a sudden there was a break in communication.

In January 2019, after receiving inside information that he would be indicted by a grand jury in TN, McAfee took to the sea on a Yacht, fleeing the U.S. for good, and set up shop on a small island in the Bahamas. Once he was all set up, he invited me down to visit, and I obliged.

My first hour in the Bahamas wasn’t a great one. We brought too much camera equipment, the customs official said, and they wanted to deport us for not applying for a license to film commercially. We had two cameras, and a drone. We ended up making a deal with them, where they could keep some of our equipment at the customs office until the end of our trip, and in return, they do not deport us. We had other friends showing up later with equipment too, so we figured we would be fine. Surprisingly they agreed to this.

We rented a car from the only place that had one on the 900-person island and proceeded to drive on the left side of the road till we got to the Exuma Yacht Club, where John McAfee was docked.

Life on the Run- An Insiders Look at John McAfee on the Run

John was a local celebrity there and it only took a few moments for someone to point us to where John was docked. Intimidating bodyguards and even more intimidating dogs greeted us and we walked up to Johns Yacht. With barely as much as a hello, John was off to the races talking about politics, cryptocurrency, freedom, his charges that were yet to be announced, and of course his Yacht. Built for a drug lord with lower-level bunkers, multiple bedrooms and decks, and bells and whistles that only a true man of the waters would understand. John was that and more.

Our time in the Bahamas only lasted a few days, but John told stories that encompassed his entire lifetime. From his early days with computers, to the founding of McAfee Antivirus, to what he wanted his legacy to be, John spoke like his life was still completely ahead of him. He had been jailed in nine countries, sued by hundreds of people and companies, bribed police officers and governments around the world, and lived to tell all the stories. John knew charges were coming down the line for him and in light of this, you would think John would slow down a bit, but his foot was on the gas as usual. Sometimes no matter how hard you try, you just can’t change who you are.

The last thing I heard them talking about as we were leaving, was the logistics of their SUV being flown in by helicopter. Within weeks of our departure, John would be arrested in the Dominican Republic for “traveling on a yacht carrying high-caliber weapons, ammunition, and military-style gear.” Add another country to the list that John has been arrested in. That makes ten….so far.

Surprisingly and yet unsurprisingly, John was released and it was back to business as usual, although this time John got a lot more secretive. We continued to talk, but he would never disclose his location and was generally just more cautious with things. He was moving very often and was more concerned than usual about being monitored. He craved privacy and freedom and naturally, our conversations lead back to cryptocurrency.

Life on the Run- An Insiders Look at John McAfee on the Run

Ghost by McAfee is a proof-of-stake privacy coin that was released in the summer of 2020. John was tired of what the industry was selling, and really wanted to put out something reflecting his ideals and values. A real thriving ecosystem of privacy-related products, a private stable coin, and a legacy bearing his name.

Fast forward a few months, and I open my Telegram to see I have way more messages than usual. John McAfee just called me an idiot on Twitter. Wtf…

For the previous few days, John had expressed his concern about the rate of development that was happening with Ghost. The project was only a few months old, and ran on a shoestring budget, but John wanted it to be ready to take on the world now and was not pleased that it wasn’t. John has been known to be very erratic and change his mind on a dime and it seemed like this would be one of those times. Sometimes when John has the gas, and has the matches, he can’t help but to put them to use, and John announced he was leaving the Ghost project…but it wouldn’t be long until he was back.

The community around Ghost is one of the strongest in the industry and John recognized that, and announced he was coming back and will continue to support Ghost.

Soon after the announcement of John’s return to Ghost, an even bigger event happened. John was arrested in Spain on U.S. charges of tax evasion, money laundering, and more. Sadly that makes 11 countries John has been arrested in, and where John still remains today. Although John has been locked in a jail cell in Spain for almost six months, he has continued to support Ghost via tweets from jail, and regularly gets and transmits messages about the development of the project from his wife Janice.

Ghost by McAfee recently announced a partnership with Poltergeistexchange.com for a sidechain named Ghoul on the Ghost blockchain that will allow private cross-chain atomic swaps, a private stable coin, private Ethereum transactions, and more coming this year. John is very pleased that development is moving forward with the vision he believes in, regardless of his personal situation.

A lot of people want to see John McAfee spend the rest of his days in a jail cell. I am not one of those people. They see John’s loud and often brash personality on the internet and immediately take a love or hate position with him. John McAfee is very polarizing and has probably made a lot of mistakes, but I know John McAfee, and he is a good guy. I hope to see the day John and I can meet again…

Like this story? I am releasing a book titled “Ghosted,” with never-before-told stories from my times with John McAfee through the rise and fall of his time in cryptocurrency. From being robbed by the Italian Mafia in Italy in 2018, to being threatened by big cryptocurrency players in 2020, “Ghosted” will take you for an up-close and personal look at the legend that is John McAfee throughout his rise and fall in cryptocurrency. For more information please join the “Ghosted” Telegram group. You can also check out an exclusive collection of never-before-seen footage of John McAfee on the run as NFTs on Rarible.

What do you think about Josh Case’s inside look at John McAfee’s life on the run? Let us know what you think about this story in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Mike Novogratz: ‘Inevitable’ for Bitcoin To Have a Higher Market Cap Than Gold

On Wednesday (March 31), Billionaire investor Mike Novogratz shared his latest thoughts on Bitcoin.

Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector.”

His comments about Bitcoin during an interview on CNBC’s “Squawk Box” at a time when Bitcoin was trading around $58,121.

When asked by Squawk Box co-anchor Andrew Ross Sorkin, how the price of Bitcoin could go, Novogratz said:

At the beginning of the year, I thought 60,000 was my target because that would have been 10% of gold, but I told myself and… our investors that once it gets to 10%, we’re all going to say ‘it’s going to 20%’ and then when it gets to 20%, it’s going to go to 50, and then to a hundred.

I do think Bitcoin is on an inevitable path to have the same market cap and a higher market cap as gold, and so it’s just how fast adoption happens. Adoption’s happening faster than I had predicted. It’s shocking to me how fast people are moving into the system and how short people are… Because once you decide it’s an asset class, if you’re not long, you’re short, and most people don’t have Bitcoin in their portfolio yet and they want to at least have something.

This is probably the first time that Novogrtaz has said that he believes that Bitcoin’s market cap will be larger than gold’s market cap. Since gold’s market cap is around $11 trillion and Bitcoin’s market cap is currently around $1.1 trillion, it means that he thinks that the Bitcoin price will eventually be 10x what it is today, i.e. around $600,000.

Novogratz was asked by Squawk Box co-anchor if the news about Goldman Sachs’ plans to offer Bitcoin-related investments to the clients of its private wealth management division meant that it was likely for Bitcoin to get banned in the U.S.

He replied:

The more people involved in the space, the more big firms, if it’s Tesla or MicroStrategy or Goldman or Morgan Stanley, the more wealthy individuals, the harder it is politically to say, ‘hey, we don’t like this anymore’, right?

And so, I think we’ve already crossed the Rubicon. There are 34 million Americans that own Bitcoin, a lot more single issue voters. I think it would be politically really unpopular to do something that’s gonna hurt all that wealth.

I also think when we talk to people at Treasury, when we talk to people at SEC or CFTC, the young people completely understand this is coming and they are working really hard to make sure we have smart regulation and that we understand it.

Listen, some of the senior people are still being educated… A consortium of crypto people [is] coming out with a paper that [will] really address a lot of the… FUD stories around crypto.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.