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This is The Block. I'm keeping today's newsletter veeeery short because I wanted to wait until after
 

The Block

May 7 · Issue #39 · View online
Weekly curated #cryptocurrency news and commentary.

This is The Block. I’m keeping today’s newsletter veeeery short because I wanted to wait until after today’s SEC closed door meeting, which could decide the fate of Ethereum (ETH), Ripple (XRP), and cryptocurrency as a whole. Will the SEC rule crypto is a security, thus invalidating much of XRP’s utility and Ethereum’s usage as an ICO platform? Or, as I and others have argued, will they find that crypto is an entirely new asset class with similarities to existing financial instruments? Let’s hope reason and logic prevails.
We’re on the edge of our seats. I’ll send out a second newsletter tomorrow with a follow up. In the meantime, enjoy the short round-up below.

Shortcuts
Bitcoin drops to $9300, cryptocurrency market loses $20 Billion. All in a day’s work.
With Ethereum’s future (possibly) on the line, dancing badgers is the draw.
Warren Buffett continues to give Bitcoin the finger, calling it “rat poison squared”
In response, we go to one of our favorite women in crypto, Arianna Simpson:
Arianna Simpson
I’m not sure why folks are so concerned what Warren Buffet says about crypto. He and Charlie Munger have openly admitted being terrible tech investors for a very long time... (cont)
Arianna Simpson
Also, it doesn’t really matter what 87-year old Warren is doing about crypto now. A better question is what would he have been doing when he was in his 20s? And I’d bet with high conviction he’d be investing in crypto assets.
Back to you, Warren.
And good news for crypto enthusiasts in South Korea, whose top regulator has noted “positive aspects” of cryptocurrency.
Links of Note
It’s happening, folks.
Goldman Sachs to Open a Bitcoin Trading Operation
I’ve mentioned before decentralized exchanges are the way of the future. But as this article suggests, there are a few conundrums that need to be solved first.
The Next Generation of Crypto Exchanges Has One Big Missing Piece
Crypto Meets Entertainment: Silicon Valley TV Series Generates Instant Memes
That’s it for today, see you again tomorrow!
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