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  • Trends with Benefits

    Trends with Benefits #58: [Crypto Series 4] - Bad Actors in Bitcoin with Jake Chervinsky

    Ed Lopez, Head of ETF Product
    June 29, 2021
     

    I continue our special bitcoin podcast series by exploring the perceptions, realities and implications of bad actors in bitcoin with Jake Chervinsky. In addition to serving as General Counsel at Compound Labs, he works on regulatory policy for the crypto industry through the Blockchain Association. So, he spends a lot of time working with legislators and has a great sense of how they view crypto.


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    Are There Bad Actors in Bitcoin?

    One of the outcomes of the Colonial Pipeline in the May 2021 hack was the renewed storyline of bitcoin as a platform for illicit activity. Naysayers, blamed bitcoin for the increasing number of hacks being experienced due to its ease in use of facilitating and collecting ransom demands.

    The hack shined a light on bitcoin’s role in the hack, both in the ransom paid and in the ransom recovered. The fact bitcoin was recovered seems to suggest that bitcoin isn’t quite the perfect criminal solution some have made it out to be. Perhaps that helps explain the data point Jake shared, that illicit activity in bitcoin made up less than 1% total activity.

    So, then what? If you are considering an investment in bitcoin, should you care if the bitcoin you receive was previously used in criminal activity? Whose responsibility is it to monitor for the possibility of tainted coin? These are just a couple of the topics Jake and I cover. We also talk about regulations he’s monitoring globally and his thoughts about the possibility of seeing a China-like crypto crackdown here in the U.S.

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    Listen for Jake’s take on investing in collectibles, hybrid work weeks, and lab grown meat.

    Follow Ed Lopez @ThatEdLopez on Twitter and Jake Chervinsky @jchervinsky on Twitter.

    You can listen and subscribe to this podcast on Apple PodcastsSpotifyStitcherSoundCloud, and YouTube.

    IMPORTANT DISCLOSURES

    Please note that Van Eck Securities Corporation (an affiliated broker-dealer of Van Eck Associates Corporation) may offer investments products that invest in the asset class(es) discussed in this podcast.

    The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.

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    Van Eck Associates Corporation

  • Authored by

    Ed Lopez
    Head of ETF Product

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