Thread by @NoelleInMadrid

Just some examples of how FAST the crypto mood is changing:

1) Minneapolis Fed Pres. Neel Kashkari, who as recently as 3 weeks ago was insisting crypto was only used for drug deals and other criminal activities, now says he “will have an open mind”. /1

coindesk.com/policy/2024/11…

As if having an open idea was a novel idea for an influential monetary official, don’t get me started… /2

2) Financial journalists who have dismissed crypto in the past are softening their stance, I’ve seen a few grudgingly admit that they still don’t get it but maybe there is something there.

This is not just signal – it’s also relevant given their reach. /3

3) A few weeks ago, two senior executives from the ECB’s Market Infrastructure & Payments division broke the walls of political neutrality and actively encouraged readers to pressure their politicians to pass anti-Bitcoin laws. /4

papers.ssrn.com/sol3/papers.cf…

Their arguments were, of course, based on misunderstanding the concept from top to bottom. Well, last week their report was edited. They’re still anti-Bitcoin, but the aggressive tone has been notably muted. That's something. /5

https://x.com/TuurDemeester/status/1856349206371545587

4) I’ve written about the likely “contagion effect”, with govts around the world becoming more pro-crypto.

Now we have the UK government making more supportive noises regarding regulation of stablecoins and staking. /6

bloomberg.com/news/articles/…

5) And a couple of days ago, the governor of the French central bank and the head of the French financial markets regulator jointly wrote an op-ed recommending centralized EU/ESMA supervision of crypto firms. /7

https://x.com/paddi_hansen/status/1856989871748841711

The idea is to develop a bloc-wide digital asset market, to hopefully nudge the bloc towards a common capital market (MiCA sets guidelines but devolves supervisory authority to the respective countries).

Assuming reasonable rules, it could widen the potential. /8

6) Yesterday, @BitwiseInvest announced the acquisition of staking service provider Attestant.

The strong signal here is incoming clarity on the legal status of staking contracts, and we can expect new types of staking investment products to emerge. /9

theblock.co/post/326265/bi…

And these are just some of the signals. There will be more, many more.

- A continued change of tone from skeptics in mainstream media
- More govts announcing crypto framework consideration
- A flurry of M&A (already started)
- More funding deals closed

Above, when I said "I've written before...", I meant here 👇:



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