The U.S. Securities and Exchange Commission has brought down its wrath on Coinbase. The publicly-traded exchange has been under investigation for allegedly selling crypto tokens on its platform that qualify as securities without adhering to the associated rules and regulations. Coinbase, for its part, is insistent that it does not sell securities on its platform and that the cryptocurrencies called into question should instead be viewed as commodities. All the drama has brought crypto to the precipice of an existential crisis in the U.S., but the industry is still waiting for the second shoe to drop.
Hello and welcome back to the Chain Reaction podcast, where we unpack and explain the latest crypto news, drama and trends, breaking it down block by block for the crypto curious.
This week, Anita and Lucas chatted about Coinbase’s latest regulatory woes, Elon Musk’s Tesla betraying the bitcoin maximalists and block-building game Minecraft bucking the blockchain.
Nage, a venture investor at digital asset management firm Arca, shared his predictions for when crypto VC funds might start actually deploying the massive amounts capital they’ve recently amassed in a story by TechCrunch+ crypto reporter Jacquie Melinek. All of web3 feels uncertain right now, but since Nage was bold enough to share his predictions, Anita and Lucas brought him on the podcast to talk more in-depth about how crypto lending firms can regain trust after a series of fiascos and how much worse he thinks things will get in the markets from here.