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.
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.
Heralded as a way to put true custody back into the hands of traders, decentralized exchanges have moved out of R&D phase and are enrolling early adopters. But before users can start rejoicing, there’s a serious chicken-and-egg problem, one that entrepreneurs believe is preventing the model from challenging the Coinbases and Krakens of the world.