Thursday, May 23, 2024

Crypto Follows PEU Playbook

The Red political team advanced legislation providing a friendly regulatory regime for crypto/digital assets.  Key members of the Blue team, including former Speaker Nancy Pelosi are be on board.  

Carlyle Group co-founder David Rubenstein, known for his ability to move Congress, has a stake in Paxos.

Hamilton Lane co-CEO Erik Hirsch talked up his firm's book.  

He wants private equity underwriter (PEU) limited partner stakes sold via the blockchain.  
... putting LP interests on the blockchain would expand retail investor participation in private equity (i.e., the industry's holy grail), by simplifying both onboarding and secondaries.
Holy Grail?  Yep, the same words used by motivational guru Tony Robbins.  Are you salivating yet?  The greed and leverage boys aren't content with pension funds or insurance companies.  They want your hard earned retirement dollars to go into bite sized, fee generating investments in cryptocurrencies and their various private equity funds.  In this financial poker junket please explore the possibility that you are the stupidest person at the table.

My wise friend wrote not long ago:
If you think about it and go back 30 years, the Crypto Industry is using the same playbook as private equity. They used payoffs, consultants, lobbyists, capture, etc. to infiltrate the pension system and this is exactly what Crypto is doing. 
It doesn't matter if it's a good asset or not. They want what they want and they'll get it.  Just look at Vanguard they hired the ex-BlackRock Executive. What mindset do you think he's going to bring?  Remember Vanguard did not want crypto.

Tokenized private equity, it's coming:
And BlackRock is a backer.

Courtesy of elected officials:

The Carlyle Group located in Washington, D.C for preferred access to government officials and Uncle Sam's wallet.  Billionaire tech bros are doing likewise, just two blocks from the White House.  As if their voice isn't already overwhelming millions of concerned citizens.

Since crypto is following the PEU playbook they may be interested in this development:

Presidents, Congressmen and Judges, oh my! Our PEU world is distinctly out of balance.  Regular folk may be just a token.

Update 5-24-24:  Blue Team leader Pelosi voted for FIT21.  Mr. Rubenstein must be pleased.

Donald Trump vows to build a Bitcoin and crypto army (Bitcoin magazine).  He's throwing all ten digits in.

Full support as well  Rubenstein's daughter pushed her conflicts of interest as a member of the Alaska Permanent Fund Board.  It's the PEU way.