SCOOP/BREAKING NEWS: The Energy Department and National Nuclear Security Administration, which maintains the U.S. nuclear weapons stockpile, have evidence that hackers accessed their networks, officials directly familiar with the matter said.

Investigators found suspicious activity in networks belonging to the Federal Energy Regulatory Commission (FERC), Sandia and Los Alamos national laboratories in New Mexico and Washington, the Office of Secure Transportation and the Richland Field Office of the DOE.
DOE and NNSA officials have begun coordinating notifications about the breach to their congressional oversight bodies. Officials at DOE still don’t know whether the attackers were able to access anything, the people said—and may not know "for weeks"

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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.