rish

I’ve seen criticism on here and twitter, as well as some euphoria on the flip side.

I don’t think anyone thinks that the token distribution is good or that it’s some wonderful meaningful project. it feels gross and grifty.

I think most positive or neutral voices are simply excited that crypto is center stage among the concerns of the incoming administration, as opposed to being unfairly targeted by politically motivated enforcement actions that haven’t solved much of anything (e.g. FTX allowed to happen, Coinbase taken to court).

in addition to euphoria from number go up, the desire for regulatory clarity is what’s coming through here imo. it’s unfortunate that this progress has resulted in some questionable alliances along the way.

best case outcome is that this is a “learn by doing” moment and the political class learns how mainstream reacts to token volatility and narratives, what works when creating tokens and what doesn’t, etc. 

no clue if that will happen / is the goal

worst case outcome is obvious

working @ /neynar   🪐  casting @ /rish

I feel like the goal is Trump camp saying "if we're going to go in on crypto, let's go in on crypto"

the timing 2 days before inauguration seems like it was done so that when the average holder gets rekt they can say "the former administration should have put better regulation in place", giving them a catalyst to introduce legislation while also making a bag on the back end

part of me wants to think that the funds get put to good use as they vest but I'm not holding my breath lol

most people rightfully calling it out for feeling like a grift, but at the same time we all wanted open permissionless financial systems