Is Crypto Entering a New Golden Age—or Just a New Era of Failed Promises?

Plain English with Derek Thompson

The crypto industry seems poised for a new golden age. But what exactly does that mean? Who would benefit? And, oh by the way, what does this technology do other than serve as a set of assets to bet to the moon?

I have lots of questions about the state of crypto right now. Last week, Bitcoin traded above $100,000 for the first time in history. Its price has skyrocketed since Donald Trump’s win, as a wave of investors bet that the next four years will mark a new renaissance. And this isn’t just a time for optimism. It’s also a time for recrimination. In the last few weeks, several major tech figures, including the venture capitalist Marc Andreessen, have condemned democrats for what they describe as an illegal war on crypto.

Austin Campbell is finance vet, an adjunct professor at Columbia Business School, and the founder of Zero Knowledge Consulting. Today, we talk about the purported war on crypto, starting with the origins of "debanking" practices under Obama; we talk about why crypto now seems like a majority-republican technology in an industry that has historically been democratic; we talk about the biggest use cases of crypto around the world; and Austin tells me why he thinks many people in the industry still aren't thinking clearly about the future of finance.

Host: Derek Thompson

Guest: Austin Campbell

Producer: Mike Wargon

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