Progressives are losing the crypto future [View all]

I’ve been interested in the concept of crypto since 2017, and while I’m aware some people consider it equivalent to Tulips and dismiss it out of hand, but this article talks about how that may put us on the sidelines as it is more widely accepted and adopted…

https://cointelegraph.com/news/progressives-are-losing-the-crypto-future

“ When US President Donald Trump called for America to become “the crypto capital of the planet,” he acknowledged a growing sentiment among his supporters. Crypto is no longer simply an asset class or subculture to this group; it’s a parallel financial system being shaped by tech-savvy conservatives for political and economic ends.

Political campaigns now use crypto as core fundraising infrastructure. Conservative lawmakers, strategists and donors use it to reshape decisions, particularly in places with fewer regulations. This has created an environment shaped by right-leaning values, with progressives essentially sitting it out.

Crypto-aligned political action committees (PACs) and donors poured more than $14 million into the 2022 midterms, according to OpenSecrets. Pew Research shows that 25% of Republican-leaning men report crypto investments, compared to just 16% of their left-leaning peers.

Why do so many liberals remain indifferent to crypto despite the widely publicized narratives of conservatives turning it into a tool of political power? Most blockchain projects still lead with flash over function. Risk aversion, optics and a lack of internal alignment on digital assets have kept many progressive organizations away. Many liberals prioritize equity and systemic reform and see profit motives with skepticism, a view that has grown as progressives have pushed the Democratic Party further left.”