TL; DR
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Senator Warren’s assumption that ‘apathy towards crypto = hatred of crypto’ has completely failed; and spawned a crypto-focused PAC that raised $178 million (making it an indomitable force in the 2024 elections).
Full story
How do we frame this situation…
Okay, imagine if tomorrow a United States Senator came out and said:
“I’m going to ban Linux (the open-source computer operating system)”…
Most of the voting population would think:
“I don’t really care – I don’t use it… but it feels like a weird hill to die on.”
A very select group of people might praise the choice and say:
“Hell yes! Linux is a stunner: the app library is limited and the user interface is confusing.”
While a passionate minority of voters (mostly nerds, many of whom have built huge software companies and have an affinity for the operating system) might say:
“This is an attack on open source software, the foundation of the modern Internet, and we will raise enough money to fight you tooth and nail.”
That’s the situation we see developing between US blockchain users/companies and Senator Elizabeth Warren’s ‘anti-crypto army’.
Liz’s premise that “apathy towards crypto = hatred of crypto” has been a major failure – leading to a crypto-focused PAC, Fairshake, raising $178 million, making it one of the most indomitable forces in the election from 2024.
(And without much countervailing funding/support on Liz’s part).
The takeaways:
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In this case, most people who don’t care about crypto are working for the benefit of the industry.
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Don’t mess with nerds.
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Especially rich ones.