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Mike Novogratz: Politicians need crypto education

The controversy over digital assets ignites

After the last attacks of the senator Elizabeth Warren to digital money, the crypto world could not continue to look inert. In particular, Mike Novogratz, the CEO of Galaxy Digital, took charge of answering, who did not ask to be asked to respond in kind. Explaining the state of frustration of a sector which begins to feel, with some annoyance, the pressure of the political world, clearly seen as a real harassment. But let's see in detail what Novogratz said.

Warren democrats - Mike Novogratz: politicians need crypto education

Mike Novogratz responds to Liz Warren on cryptocurrencies

As is now known, Democratic Senator Warren has launched a real attack against cryptocurrencies. Stating that their fluctuations endanger retail investors. Forgetting that many other financial assets also carry the same risks, so much so that the great majority of small investors are destined to increase the so-called "Parco Buoi". That is, those ready to be shorn by the strong hands of the market, according to the well-known theory of Joe Ross.
But it was even heavier then the equality of the crime of those who use it Bitcoin like money. So much so as to push Novogratz to affirm the unpleasantness of his attitude, a haughtiness that does not suit a political exponent of a party who declares himself progressive. Ignoring the fact that cryptocurrencies represent a very advanced technology, therefore synonymous with progress.

Novogratz's tweet against Warren

Even clearer was then Novogratz in a tweet in response to Warren. In which he claimed that banks charged $ 12 billion in overdraft fees, a fortune in ATM fees and on checking accounts. Despite this, the senator focuses her gaze exclusively on cryptocurrencies, where the value handled represents a fraction of what is instead the prerogative of the banks. An attitude that seems actually destined to betray Warren's supposed progressivism.
On which Novogratz's last jab also falls, when he states that if the banking world had had the transparency that characterizes the protocols DeFi, the collapse of Subprime mortgages in 200 would not have occurred8. The effects of which have ruined millions of people all over the globe and are still visible today on the business cycle. Concluding with another very strong statement, under which politicians need cryptocurrency education. Implying the fact that they don't even know what you're talking about.

Sherrod Brown joins Liz Warren

In the quarrel between cryptographic space and the political world, the intervention of another senator is to be recorded in the last hours, Sherrod Brown. Which has practically gone alongside Warren. He did so with a series of statements intended to rekindle the controversy.
Brown, in fact, claimed that cryptocurrencies are not only not real money, but They also jeopardize the hard-earned savings of US citizens. He then upped the ante by declaring that decentralized finance would be nothing more than a shady network, a sort of online gambling den.
Very heavy statements, considered as the Ohio senator holds the role of chairman of the United States Senate Commission on Banking, Housing, and Urban Affairs. In short, between politics and the cryptographic sector are now flying blows from orbi.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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