TL;DR
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Senator Warren’s assumption that ‘apathy towards crypto = hatred of crypto,’ has been a total misfire; and lead to a crypto-focused PAC raising $178M (making it an indomitable force in the 2024 election).
Full Story
How do we frame this situation…
Ok, imagine if tomorrow a US Senator came out and said:
“I’m going to ban Linux (the open-source computer operating system)”…
Most of the voting population would think:
“I don’t really care either way — I don’t use it…but it feels like a weird hill to die on.”
A very select few people might praise the choice, saying:
“Hell yeah! Linux blows — its app library is limited and the UI is confusing.”
While a passionate minority of voters (mostly nerds, many of which have built huge software businesses and have an affinity for the OS) might say:
“This is an attack on open-source software, the bedrock of the modern day internet and we will raise enough funds to fight you tooth and nail.”
That’s the situation we’re seeing unfold between US blockchain users/companies and Senator Elizabeth Warren’s ‘anti-crypto army.’
Liz’s assumption that ‘apathy towards crypto = hatred of crypto,’ has proven to be one hell of a misfire — leading to a crypto-focused PAC, Fairshake, raising $178M, making it one of the most indomitable forces in the 2024 election.
(And without much of a counterweight in funding/support on Liz’s side).
The takeaways:
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In this case, most people not caring about crypto is working in the industry’s favor.
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Don’t mess with nerds.
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Especially rich ones.
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