To all the builders, innovators, investors, policy makers, and warriors interested in joining the digital evolution:
We need your attention, discipline, and resources pointed towards 'unsexy' work to build solidarity across the industry – and world – around the definitions, guidelines, education, frameworks and standards that govern the blockchain industry. An alliance across these key fronts will galvanize the industry and accelerate adoption.
I meet regularly with councils, associations, and coalitions across the US and the world, and this is the key work that I hear a huge need for every day. We saw the implications of this unmet need in the Infrastructure bill recently passed by the Senate. We need more resources and continued effort to forge a strong and unified crypto and blockchain support system. Please make sure you or your company does its part in supporting the pioneering efforts to build our digital future. Let me know if you or your company is interested in engaging more on this.
Early Bird Discount 🐥
My brand new in-depth deep dive into blockchain and cryptocurrency launches in just under a month. I’m excited to share what you can expect when you sign up for the course.
At the end of the 3 week "Blockchains & Cryptos Fundamentals" course, you’ll be less likely to be fooled by crypto scams and shills, because you’ll understand the history, theory and best practices to safely invest and explore crypto.
Crypto and the blockchain industry is fast-moving and growing. At the end of the course you’ll also know where to go in the future to get trusted information and how to stay on top of developments.
Sign up before spots are gone. As a thank you, I’m offering an early bird community discount exclusively to newsletter subscribers. Use the code AIRDROP20 to get 20% off until August 24th at 11:59pm PST.
U.S. Senate Passed The Anti-Crypto Bill–Now What?
The infrastructure bill currently contains no amendments to the problematic provisions forcing crypto brokers to complete KYC procedures and follow strict tax reporting rules.
Although the Senate has passed the bill, there may still be a little glimmer of hope for the crypto sector as the House of Representatives has to vote on the bill. Contact your House Representative to voice your support in stopping the bill from being passed as is. Of course, a "Plan B" is in the works as well. More to come on that.
The silver-lining of the anti-crypto bill drama? Bitcoin fans have shown up as a political force. "Crypto is more than an industry. There is an entire network of individuals building & supporting those networks. That has turned out to be an incredibly organised community.” -- Kristin Smith, Blockchain Association
Largest Hack in Crypto History Has A Twist Ending
The Polygon network, a Layer 2 blockchain protocol that interoperates with Ethereum but without the high gas fees, was hacked last week. The attacker syphoned more than $600M worth of crypto.
In a surprising turn of events, shortly after, the ‘White Hat’ attacker returned all $611 million stolen funds and left some public messages embedded in blocks on the Ethereum network. Click here to see the hacker’s messages outlining his motivations and goals. Very interesting.
The Polygon team confirmed that almost all of the funds have been recovered, except for $33 million worth USDT stablecoins frozen by the Tether foundation. In an on-chain message, the team offered the hacker a $500,000 as a thank you for exposing a security bug.
WTF Happened in 1971?
Gradually Then Suddenly, a series of essays to understand the context and history behind Bitcoin by Parker Lewis.
In 1971, the U.S. went off the gold standard. See the impacts of what happened when the U.S. dollar became fiat money.
Local Bitcoiner, Vijay Boyapati has published his essay on “The Bullish Case for Bitcoin”. Support him by checking out his book for $21 USD. (21 is NOT a coincidence).
What would you like to see more of in this newsletter? Hit ‘reply’ and let me know.
See you next week!
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BTW, I host a weekly AMA (Ask Me Anything) on Fridays, 12-1pm PST. You can sign up on meetup.com under the Blockchain Underground.
If you want to learn more in a small cohort based environment via a super curated synthesized 3-day Blockchain Crypto Fundamentals Workshop, apply here: https://maven.com/yuv-dojang/blockchain-crypto.
Arry is the Chair of the Cascadia Blockchain Council, a group supported by the Washington Technology Industry Association (WTIA), the largest US tech association representing technology companies from Oregon to British Columbia. She is also the co-organizer for the States' Assn for Blockchain and was one of the early pioneers that completed a $32m tokensale in an Initial Coin Offering (ICO) back in 2017. She founded the Cascadia Blockchain Council in 2018 and has been an avid educator, advocate, investor, and innovator in the space since 2016.