Elizabeth Warren's Bitcoin Climate Crusade (SUBSCRIBER EXCLUSIVE)
Plus, Wise storms the US market.
Number of the Week: $100 million (explanation below)
Elizabeth Warren's Bitcoin Climate Crusade
It’s merely an impression, but it feels like the climate criticism of cryptocurrency mining has been less prominent in the second half of 2021 than in the first half, even as cryptocurrency itself has continued to skyrocket. In May, for example, the New York State legislature considered a bill that would have imposed a three-year moratorium on cryptocurrency mining until an environmental impact study could be concluded. That bill died quickly, and there’s been not much formal action since then. In part, this may be because the crypto industry has been on a global lobbying offensive this year, successfully circulating the message that blockchain technology could help boost growth in renewable energy.
US Senator Elizabeth Warren (D-MA), however, is not having it.