
In a recent op-ed published in The New York Times, Eswar Prasad, a prominent academic known for his advocacy of Central Bank Digital Currencies (CBDCs), critiques the cryptocurrency industry. Prasad argues that crypto is increasingly becoming a platform for speculation, financial engineering, and fraud. His commentary has drawn attention from various voices in the digital assets sector, including Sheila Warren and representatives from Paradigm, who contend that mainstream media outlets like The New York Times and The Washington Post have misrepresented the realities of the digital assets industry. They urge critics to move beyond their biases and acknowledge the evolving landscape of cryptocurrencies. This ongoing discourse highlights the tensions between traditional financial perspectives and the emerging digital asset ecosystem.
“Crypto itself is in danger of becoming mainly an arena for speculation, financial engineering and outright fraud,” @EswarSPrasad writes. Read: https://t.co/NVi95gvPqJ
"It’s long past time for critics to look past their biases and recognize the reality of the digital assets industry," say @sheila_warren and @JBSDC. Opinion. https://t.co/szN2d7qPOu
What did the NYT and Washington Post get wrong about crypto? @sheila_warren and @paradigm's @JBSDC think it's long past time for critics to look beyond their biases and recognize the reality of the digital assets industry via @CoinDesk https://t.co/J6mCVTPo2e