Despite a Crypto Crash, Art’s Most Powerful Players Have Decided That NFTs Are Not a Fad and Are Very Cool Actually


This week, on reversed trends and reverse logic…




Dear reader,

I’m writing to inform you that, like it or not, we are stuck with crypto and NFTs.

This news may catch many of you by surprise. Even people with no interest in blockchains whatsoever know that the overall markets for crypto and NFTs have been in the toilet for almost a full year. A large chunk of the blame falls on crypto entrepreneurs themselves, a distressingly high share of whom have had their chosen costumes as populist revolutionaries for the next generation of finance ripped apart, revealing them to be nothing more than old-school fraudsters, incompetents, or both. 

No wonder regulators are closing in on the industry. The U.S. Securities and Exchange Commission just recently took aim at Kraken, a crypto exchange with no apparent history of bad behavior. The SEC ruled that the company needed to register its staking operation as a security offering, a complex and costly process that continues the commission’s history of making aggressive moves against…

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