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The Engine
@theengine
🎙️Russell Castagnaro, a venture steward at Bufficorn Ventures and Chief of Staff at Spork DAO came on the show to talk crypto and government this week. We know you read a 100 threads on the subject in the last two weeks. Still, a thread 👇 https://youtu.be/FcGLygoCXNA
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The Engine
@theengine
Fun fact: Russell almost integrated ETH into the State registration system in Hawaii in 2017. But the state demanded paper checks (!) as the medium of payment. His career spans both public service and entrepreneurship. He’s always had an interest in egovernment and ecommerce, which of course, led him to crypto.
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The Engine
@theengine
Russel built digital services in the states of Hawaii and Colorado and now focuses on supporting early builders through Bufficorn Ventures. https://twitter.com/BufficornV
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The Engine
@theengine
There was a lot of news on the crypto and government front in the last two weeks. In a typical crypto fashion, we went on a roller coaster of events and emotions. Well, hey, we're crypto. Rollercoaster is what we do.
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The Engine
@theengine
It all started when unexpectedly, Congress passed SAB121 repeal - dems are pivoting! CT is pumping but veto is looming. WH says no veto let’s do comprehensive regulation. CT is ecstatic. We’re so back! Another vote passed by the House (FIT21), and another one (anti-CBDC act). What a week!
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The Engine
@theengine
And then spot ETH ETFs got approved. And we totally lost it.
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The Engine
@theengine
Only to get a cold shower a week later. Biden did veto the repeal of SAB121 after all. Despite a plea from BANKERS! Yeah, bankers are trying to help crypto. Well, they're trying to help themselves, but we'll take it. https://www.aba.com/advocacy/policy-analysis/letter-to-president-biden-sab-121
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The Engine
@theengine
Despite the legislative disappointments - do not underestimate the enormity of progress. The ETH ETFs are still in play. So are the BTC ETFs, for that matter. And so are all the legislative initiatives. Crypto is expanding its reach. And the government is bending to it.
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