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Fortune

Leo Schwartz

Crypto keeps picking the worst champions

Crypto Leo Schwartz Leo Schwartzleoschwartzfortunecomleomschwartz Department of Justice DOJ Tornado

smartphone displaying cryptocurrency app (Credit: Luke MacGregor—Getty Images)

Proof of State is the Wednesday edition of Fortune Crypto where Leo Schwartz delivers insider insights on policy and regulation.

Crypto is often an industry of grifters hiding behind principles. Unlike other financial sectors, where the sole priority is maximizing returns, blockchain technology was built on ideals of decentralization and economic liberty, with the promise of some utopian future exploited to mask uncomfortable truths.

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