Jack Niewold Profile picture
Mar 9 19 tweets 5 min read
Alright, I did it so you don't have to.

Here's a thread on what Biden's executive order sets out for the industry.

And what that might might mean for crypto investors like you and me.

🧵
First of all, it's important to touch on what this executive order does.

When people think: 'executive order,' they think there will be an immediate change.

With this one, not so much.
No direct action will be taken from this order, at least yet.

It only lays out a process and series of deadlines for an interagency team to write framework around digital assets in 6 different, broad, categories.

This will culminate in report delivered to the president.
Noteworthy:

The very first paragraph seems to take an optimistic tone on crypto and crypto markets, citing:

• Dramatic growth
• Total crypto market cap
• CBDCs

Seems like a promising way to start the report.
There are six categories of 'objectives' set out by the executive order.

These are the objectives that the report (to be delivered to the president) will address.
1. Protect consumers, investors, & businesses

This section seems to speak more to centralized businesses than decentralized protocols. It touches on the past failures of exchanges to protect assets & consumer data.

It seems to outline protecting investor privacy as a priority.
2. Protect US and global financial stability

This section covers compliance and lack of existing legislation.

But the main idea? “same business, same risks, same rules.”

It also recognizes that legislation might need to change to address new types of assets.
3. Address Illicit Finance

This section specifically addresses:

• Sanctions
• Money Laundering
• Financing of terrorism
• Cybercrime

It does seem to suggest that it's well within reason for the US government to regulated decentralized platforms, in the text quoted below.
4. Reinforce US Financial Leadership

This one is, IMO, the most optimistic section. Here, Biden clearly outlines that the administration doesn't want to push crypto abroad.

Also notable? They want to protect the regime and superiority of the dollar

5. Access to Safe and Affordable Financial Services

Here, the order addresses both:

• Financial services domestically
• Cross-border payments/remittances

It also recognizes that some Americans are underserved by the current banking system.
6. Support Technological Advances

This section particularly speaks to climate change, looking for crypto to "reduce negative climate impacts and environmental pollution" while simultaneously protecting privacy and security.
Then the order dives into the logistics of creating the report, as well as touching on a CBDC (Central Bank Digital Currency).

This order subtly highlights the CBDC as a tool for the US to retain dominance in using the dollar as world currency, focusing on cross-border payments.
The order independently taps the Fed to do research into a CBDC as well.
The framework to handle these matters is due in 180 days, with a final report due in a year.

In 90 days, the executive report requires action and forward movement on illicit finance (maybe with the accelerated timeline due to the conflict in Russia).
I thought the order was overall optimistic, although with legislation, the devil is in the details.

As an American, I'm exceptionally excited that Biden is recognizing the importance of fostering the industry domestically.
But the market seems to have reacted bullishly, which feels promising.

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Here's a link to the order:

whitehouse.gov/briefing-room/…
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More from @JackNiewold

Mar 7
Some interesting small caps, rules for not getting wrecked, and a Solidly post-mortem.

The best crypto tweets of the week (that you might have missed)

🧵
2. The Calculator Guy (Crypto OG and Youtuber) with a quick thread on some of the rules he uses to avoid getting wrecked.

@phtevenstrong

Read 14 tweets
Mar 4
THE SOLIDLY ENDGAME:

But with a nasty price drop over the last 36 hours, a missing founder, and inflation fears around the project what's next?

🧵👇
I'm going to assume you already know what Solidly is, more or less.

But the basics are:

$SOLID is an exchange similar to Curve with both stable and volatile swaps.

Value comes via the ability to direct token emissions, incentivize emissions and trading fees earned.
But $SOLID token price has collapsed: I think there are 3 main reasons.

1. Token inflation:

While investors originally thought that rewards would be strong for about a year, it turns out that Andre Cronje coded $SOLID so that emissions drop drastically after just 10 weeks.
Read 22 tweets
Mar 2
VeDAO has been playing 4D chess while the rest of us are just out here playing Solidly checkers.

These guys are the gigabrain hedge fund of the Solidly Wars.

Another $SOLID emergency thread; let me explain:

🧵 👇
If you're unfamiliar with what's going on, just think of Solidly as similar to $CRV and $SEX/$OXD as trying to compete against each other to become $CVX.
So VeDAO managed to secure enough TVL early on to get airdropped $SOLID tokens, starting out with approximately 5.3% of supply.

They locked with Solidex, allowing them to boost rewards, get control over Solidex tokens, get control over emissions, and farm lots of tokens.
Read 11 tweets
Mar 1
The Solidly Wars have played out in phases:

Understand these quick narrative rotations and you will be able to stay on the gravy train.

Stay stuck and you will fall off.
1. Positioning around allocations

The best plays promised cheap exposure to $SOLID

In this phase microcaps with token allocations pumped:

$PILLS pumped from $1 to nearly $3
Iron Bank pumped from $30 to $200
2. Positioning around Control

Phase two happened immediately post-launch. Instead of owning exposure indirectly, now you could actually own voting rights and tokens.

The best plays were $SOLID, which went from $3 to $15

And $SEX, which went from $3 to $35.
Read 8 tweets
Feb 28
Okay emergency $SOLID thread alert, this is too good.

The Solidly Wars are here, this is the narrative you need to be following, I'm so sure of it.

🧵
1. A whale just printed a god candle on $SEX, with two separate $650k buys in the span of a few minutes. Image
2. It's looking like there was a coding error that has lead to over-inflation in the first few weeks of Solidly emissions, leading to emissions being way front-weighted.

Read 11 tweets

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