Justin Slaughter

@jbsdc

74 Following

463 Followers

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Justin Slaughter

The final fight on GENIUS is going to be on an amendment unrelated to crypto: the Credit Card Competition Act of Durbin and Marshall, changing how credit cards can restrict network access & might change rewards systems. Merchants love it, banks hate it. It’s on net a good bill, but if included, banks might kill GENIUS. Needs 60 votes to pass. https://www.congress.gov/bill/118th-congress/senate-bill/1838/text

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Justin Slaughter

I sometimes read anti crypto pieces and am usually the most struck by not just how inaccurate they are but how they seem to fear regulation because it will make crypto seem safer, thereby enticing people join it and be hurt by the inevitable crash. Just a cascade of false assumptions. This is an especially good specimen. https://washingtonmonthly.com/2025/05/20/why-are-some-democrats-making-cryptocurrency-too-big-to-fail/

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Justin Slaughter

CCM voted yes, Warnock voted no then yes, Cantwell and King voted no ultimately.

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Justin Slaughter

If you want to watch the cloture vote on Genius live, it will be at this link in about 10 minutes. https://www.senate.gov/legislative/floor_activity_pail.htm

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Justin Slaughter

Most important senators to ping (imo): Warnock (D-GA) Cantwell (D-WA) Cortez-Masto (D-NV) King (I-ME)

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Justin Slaughter

Little known secret: Senators track the calls that come into their office every day from their constituents on each issue. It’s treated as proof of how their states care about that issue. If you’re in crypto, you should take 5 minutes Monday to call your senators. Don’t email, call like a boomer. https://www.senate.gov/general/resources/pdf/senators_phone_list.pdf

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Justin Slaughter

I’m about 90% GENIUS passes into law next week at this point. Vibe/whispers in DC are that the vast majority of people in Congress and policy circles want to finally craft some laws on stablecoins and begin the process of crafting a regime for this part of crypto. The main obstacles are banks, Trump, and nonprofits.

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Justin Slaughter

There’s a deal on Genius. First vote early next week.

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Justin Slaughter

Genius seems to be tracking better. Dems and GOP appear to genuinely trying to find a workable compromise.

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Justin Slaughter

There needs to be a documentary about how big a deal Nintendo Power was to both the growth of gaming culture and to the general childhood of Millennials. There’s a need for something similar aimed at 8-12 year old boys today.

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Justin Slaughter

Wondering why Genius didnt move forward on Thursday? Here’s the real scoop: First, the Trump stablecoins deal with Abu Dhabi was a big factor and created a lot of bad pressure on Dems to something about it. That probably was the first issue.

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Justin Slaughter

It’s a true irony of life that for all Gary Gensler says about crypto not following unwritten rules, he is personally consumers sloppy about following political norms and rules in his official government job. https://x.com/eleanorterrett/status/1834210398842581351?s=46&t=6pIOBuXCDYR3MDdqas9hTg

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Justin Slaughter

Stray thought: leftists concerned first and foremost with social welfare programs may be more amenable to crypto than liberals obsessed with building state power. It’s not Bernie Sanders or AOC declaring a war on crypto like Warren has.

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Justin Slaughter

What a surprise, independent academic poll basically tracks polls from us at Paradigm and others in crypto: - Crypto owners lean Trump, voting for him 50-38 over Harris - Ownership skews young and nonwhite - ownership is not ideological: equal percentages of progressives, moderates, MAGA, liberals, conservatives all own crypto. https://www.fdu.edu/news/fdu-poll-finds-trumps-embrace-of-crypto-pays-off/

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Justin Slaughter

In the great battle of Sekigahara, the eastern forces of Tokugawa Ieyasu defeated the western forces of Ishida Mitsunari because the eastern forces had a unified command structure and the west didn’t. Better logistics beats better strategy nearly every time.

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Justin Slaughter

Great things are happening in Chicago. https://x.com/crypto/status/1826331383205142779?s=46&t=6pIOBuXCDYR3MDdqas9hTg

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Justin Slaughter

We dropped our new poll of Democrats on crypto today. Best data point on crypto is that 18% of Dems have bought up to this point, 12% currently own, and 27% plan to buy in the next year. Based on the crosstabs, about 14% of Dems plan to buy for first time in next 12 months. AMA https://policy.paradigm.xyz/writing/Dem-polling

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Justin Slaughter

If you want to know who is losing power in Dem politics right now, look at who is screaming that the Biden years were actually awesome. https://x.com/ddayen/status/1821941375723552853?s=46&t=6pIOBuXCDYR3MDdqas9hTg

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Justin Slaughter

Anyway, if you wanted a rebuttal of some of the bad points made about crypto in the Washington Post and the New York Times recently, Sheila Warren and I have a new op-ed fact checking them. https://t.co/J6mCVTOQcG

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Justin Slaughter

Publications write headlines of op-eds, not the authors. If you took out the headline (which shows the NYT Editorial page hates crypto), this is annoying but less bad than usual. And if you dropped this piece in 2023, it would seem pro-crypto compared to all other newspaper columns on us. We’re winning. https://www.nytimes.com/2024/08/09/opinion/crypto-2024-election.html

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