Share this article
BTC
$83,353.30
+
3.67%ETH
$1,562.19
+
1.28%USDT
$0.9995
+
0.03%XRP
$2.0253
+
1.39%BNB
$586.63
+
1.07%SOL
$121.34
+
6.16%USDC
$0.9999
-
0.00%DOGE
$0.1593
+
1.73%TRX
$0.2436
+
3.79%ADA
$0.6223
+
2.63%LEO
$9.3023
-
0.82%LINK
$12.60
+
4.65%AVAX
$19.03
+
3.60%XLM
$0.2336
+
1.79%SHIB
$0.0₄1216
+
4.52%TON
$2.8687
-
1.02%SUI
$2.1835
+
3.95%HBAR
$0.1675
+
0.28%BCH
$312.51
+
7.43%OM
$6.4306
+
0.10%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Ex-Goldman CEO Blankfein Says Governments Would Likely Try to Shut Down Bitcoin if It Becomes Too Successful
Blankfein misrepresented bitcoin's traceability and falsely claimed users are blind to their counter-parties.
Former Goldman Sachs CEO Lloyd Blankfein pooh-poohed bitcoin's "store of value" and "medium of exchange" propositions on CNBC Monday, stressing that if the cryptocurrency ever grew to a substantial size the regulators would likely move to shut it down.
STORY CONTINUES BELOW
- "If I were a regulator, I'd be, you know, I would be kind of hyperventilating at the success of [bitcoin] at the moment and I'd be arming myself to deal with it," Blankfein said.
- The finance executive asserted that bitcoin users have no way of knowing if enemy states like North Korea and Iran are counter-parties to their transactions. He then seemingly implied there's no way to monitor bitcoin transactions, ignoring entirely the cryptocurrency's inherent traceability.
- Bitcoin's success at weathering the regulator's impending storm could serve to undermine its most appealing attributes, Blankfein said.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
