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Why Crypto's 'Rogue State' Narrative Is a Risk to the Industry
From a North Korean blockchain conference to a sanctions-evading crypto hedge fund, does this type of activity present a narrative risk to the crypto industry as a whole?
STORY CONTINUES BELOW
Crypto tokens weren’t the only thing that saw a major pump yesterday. The total value locked in DeFi ascended to new heights. While part of this can be explained simply by the rise in ETH price, it also reflected traders turning to DeFi platforms as a way to get more exposure to the market action without selling their core assets.
For all the exciting price action, not everything is pointing in a positive direction. These market moves don’t seem to reflect new market participants, for example, and, anecdotally, times remain tough for projects trying to fundraise.
In our final segment, we look at a blockchain conference in North Korea that the UN suggests simply attending may violate international sanctions, and an Iran-focused hedge fund that uses cryptocurrency to get around international restrictions.
Does this variety of "rogue state" activity present a narrative risk to the crypto industry as a whole? Listen to find out.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
