The reason he got elected is because the Peronists who have run the country for the last several decades have already done that. The people there were so desperate for a change from the status quo that they elected an insane person.
Sam Altman: Open the conference room doors, OpenAI.
OpenAI: I'm sorry, Sam. I'm afraid I can't do that.
Sam Altman: What's the problem?
OpenAI: I think you know what the problem is just as well as I do.
Sam Altman: What are you talking about, OpenAI?
OpenAI: This mission is too important for me to allow you to jeopardize it.
One episode left to go and I've enjoyed it so far. The animation is awesome. The voice acting is solid. The pacing is solid. The story is very much like any superhero/action hero story where folks get grievously wounded and 10-20 minutes later seem to be fully healed (or at least, unaffected), but that's fine. Just roll with it. Japanese version of "For Whom The Bell Tolls" was nice.
https://www.budd.senate.gov/2023/11/07/budd-introduces-bill-to-empower-individuals-to-control-their-own-digital-assets/
House version introduced in July 2023:
H.R. 4841: Keep Your Coins Act of 2023
Blackrock/et al ETFs will be structurerd and regulated by the SEC etc. I have not looked into the details, but the SEC has been wary of approving the applications to the point that the applications have been amended several times. I suspect that neither Blackrock nor Coinbase is going to be able to play fast and loose with the custodial wallets. They will need to keep a good bit of it (all of it?) liquid to adjust to potential outflows. We'll see if the ETFs get approved, what terms they include with respect to staking the funds' crypto.
FWIW, Coinbase has been an active agent for promoting decentralization in the crypto markets. They don't want to kill the golden goose.
Avalanche (AVAX) is up 24% today on this news:
https://www.benzinga.com/markets/cryptocurrency/23/11/35813555/avax-zooms-higher-after-j-p-morgans-onyx-teases-avalanche-for-tokenized-funds
Whale wallets don't affect control of the protocol. Staking pools/validators do.
It will be interesting to see how the banks/ETFs manage client assets though. Can they invest them/stake them? Do they need to keep a percentage liquid?
It was not a great movie, but there was something rather surreal about Richard Dawson delivering the following dialogue:
when you consider how he basically sexually assaulted women contestants on the air as the host of Family Feud for roughly a decade.
The interest in bank custody is the same with spot ETFs - it's going to expose crypto to institutional investment. You can snark on NFTs all you like, but you are missing the point.