Monday, June 17, 2019

The sad part is I'm sure this isn't the first time the worlds of cryptocurrency and Perlstein's "the Long Con" have collided

From Madison Malone Kircher writing for New York Magazine.
In the name of the father, the son, and the HODL spirit … amen. Rick Santorum — former Pennsylvania senator, two-time failed Republican presidential candidate, conservative Catholic — is getting into cryptocurrency. He’s an adviser on the board of a new company called Cathio, which says it “provides Catholic organizations with a payments platform that aligns with Catholic values, provides the tools necessary to increase donations and connect with both local and global Catholic communities.” Santorum’s son-in-law is Cathio’s CEO.
From the Financial Times’ Alphaville blog:
There are some other big hitters on the board too, including former US ambassador to the Vatican Jim Nicholson, and former head of the US Mint Ed Moy, who also happens to have been an adviser for “bitcoin IRA”, an investment fund that encourages people to put their retirement savings into crypto (what could possibly go wrong, etc). Also on the board — and co-founder of Cathio — is Cameron Chell, chairman of ICOx Innovations, the company that ran Kodak’s infamous “Kodakcoin” ICO, which managed to raise less than 7 per cent of its target.
And in case you never read Rick Perlstein's essential essay...


  1. Mark:

    One thing I've been wondering about is whether having a political connection is a plus or a minus for cryptocurrencies. On one hand, being politicized sounds like a minus, as it can make them vulnerable to political attack or even just people being wary of using something that's politicized. On the other hand, the political connection could help them get bailed out by the government?

  2. But do you bail out a crypto? As a currency? As an investment? Not sure how you'd manage the first. The second is possible, but it would be probably be insanely unpopular.