Progressives are losing the crypto future
Main Idea
Progressives lack a unified strategy on cryptocurrency, risking irrelevance as crypto gains political traction, particularly among conservatives, while some blockchain projects align with progressive values.
Key Points
1. President Donald Trump advocated for America to become 'the crypto capital of the planet,' reflecting growing crypto support among conservatives.
2. Crypto-aligned PACs and donors contributed over $14 million to the 2022 midterms, with 25% of Republican-leaning men investing in crypto compared to 16% of left-leaning peers.
3. Progressives have concerns about crypto's use for fraud and tax evasion, but some blockchain projects, like Solana and Gitcoin, align with left-leaning values such as energy efficiency and public goods funding.
4. A few Democratic representatives have taken nuanced positions, but broader progressive engagement is needed to influence crypto's development.
5. The article suggests progressives should move from critique to contribution by supporting real-world crypto experiments to avoid losing influence in shaping the future of crypto.
Description
As US conservatives rapidly shape the crypto landscape through policy, funding and grassroots adoption, progressives remain divided and hesitant. Progressives lack a unified strategy and risk losing relevance.
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