Cryptocurrency cleaned up its act this week as spot Bitcoin ETFs made their Wall Street debut in January.
The decentralized part of cryptocurrency is up for interpretation these days.
Bitcoin is now, tangentially, sold through Americas largest financial institutions, such as BlackRock and Fidelity.
Photo: Spencer Platt (Getty Images)
These corporations literally couldnt play a more central role in finance if they tried.
Perhaps thats good a thing for some, but it also takes away a core value of cryptocurrency.
Thats roughly 50,000 Bitcoin, and its one of the largest cryptocurrency seizures ever.
What is Germany gonna do with $2 billion worth of Bitcoin?
Yes, even the U.S. government is a crypto trader now.
A separate $1.7 billion crypto scheme also came crashing down this week, according toQuartz.
Who Cares?
Cryptocurrency was created to represent a decentralized, deregulated form of currency.
Bitcoins original platforms and players are largely dead in the water now.
Governments, regulators, and banks are becoming increasingly large players in crypto.
Its frightening in some ways to see Bitcoin co-opted by the same institutions that control traditional currencies.
It makes you wonder if crypto is really that different from trading stock.
However, Bitcoin may now be part of the same systems it was created to disrupt.
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