Feb. 9, 2022: Stealing Billions 💵 🇺🇸 🏛

US House Committee on Financial Services Stablecoin Hearing Mega Roundup

Big cryptocurrency heist in the news!

Jack Niewold @JackNiewold

What do: • $4 billion in missing $BTC • Female rapper RAZZLEKHAN • Forbes magazine • the US Department of Justice Have in common? A thread on the 2016 Bitfinex hack, its resolution, and the implications. The strangest crypto story of the year (so far, at least): 🧵👇

Yet that $4 billion isn’t even the biggest attempt at swiping money. The US House Committee on Financial Services reconvened yesterday in an attempt to give banks a major handout in the form of exclusive provenance over stablecoins, which could amount to a much larger form of theft.

찌 G 跻 じ ( 𝙃𝙚𝙣𝙩𝙖𝙞, 𝙎𝙚𝙣𝙥𝙖𝙞 ) @DegenSpartan

very bullish hearing btw $2 target by 2030

Thankfully, the four hour ordeal ended up better than we could have hoped! We’ve got the full breakdown for each Congressperson and analysis below right now. Most of the individual Congresspersons’ commentary has also been posted publicly, along with scores, at the PAC DAO website (the beneficiary of your subscriptions!)

If you’re looking to take action, remember that cryptocurrency is not just under assault from Congress. The SEC is trying to slip through some absurd rule changes, and if you participate in the letter writing campaign to stop this madness you can claim a free NFT on Ethereum or Polygon.