What changed?
He figured out how to make money off of it.
In this case, people paid for his sneakers with crypto. We can’t ban it anymore.
But that’s not all! Remember his NFTs? Or his personal bag of Ethereum that he picked up last year?
If money wasn’t enough to get him on the bandwagon, now he can get votes, too.
Whether he realizes it or not, Vivek’s people and single-issue voters aren’t exactly simpatico with Biden’s crypto policy.
He’s not the first politician to change his mind in exchange for votes and money.
Before you start running away with images of Trump tearing down the evil banksters and liberal Wall Street sycophants when he gets into office, remember: he’s one of the biggest beneficiaries of that very system you’re trying to replace.
You can say the same for everybody who holds financial power in the US.
The US has the most advanced, robust, and sophisticated financial system on earth.
It’s so advanced, robust, and sophisticated that its government, businesses, and citizens spend many billions of dollars each year on regulators, courts, lawyers, compliance departments, clearinghouses, accountants, settlement companies, brokers, traders, power companies, cybersecurity experts, and a whole legal and regulatory apparatus designed to keep this system from collapsing.
That’s a lot of time and effort, but it pays off. Stable markets and access to capital are true luxuries.
