Fantastic article in the NY Observer this morning:
The article was written by Michael Craig but I have no doubt partly written by editor in chief Ken Kurson (full disclosure, Ken is a good friend and I personally look up to him)
There’s an epic battle for the future of money, and the outcome is murky. It might have several winners. It might have no winners. But one thing is crystal clear: The most exciting battle in this long war is taking place in San Francisco, and the town isn’t big enough for both Ripple Labs and Stellar, two of the contenders hoping to replace not just Bitcoin but the almighty dollar.
Im quoted in it about 16 times, and am happy to be apart of this story. Here are some snippets:
Mr. Shrem, a tireless evangelist for Bitcoin and cryptocurrency, was the CEO of BitInstant and a founder of the Bitcoin Foundation. He pleaded guilty in September to reduced charges of aiding and abetting the operation of an unlicensed money transmitting business. Again, is that actually a criminal offense? If it is, with the Wild West stuff going on in crypto in the Mission District, the free spirits leading the crypto revolution had better sock away a few billion of their newly minted coins for legal fees before they, too, are making coffee in the toilet.
Mr. Shrem told The New York Times, “They want a guilty plea on their books, and that’s what they’re going to get. They got a Bitcoiner.” In a colossal show of overkill, the government agencies behind taking down this 5-foot-5, 140-pound menace to society included the DEA, NYPD, Homeland Security, New York State Police, IRS, FBI, BATF, U.S. Secret Service, New York National Guard, Office of Foreign Assets Control, and the New York Department of Taxation and Finance. Last month, Mr. Shrem wassentenced to two years for “indirectly helping to send $1 million to Silk Road” and is expected to serve half that time.
It’s a long one, but I recommend reading the whole thing!