The nonsense that these Biden admin CEA members spew about crypto in their NYT guest essay is pathetic, even by partisan academic standards. Crypto wasn't adopted by giant tech firms in 2021 and this was a red flag you say? Libra was launched by Facebook in 2019, when it had almost 3 billion users. Not big enough for you? Also involved were Uber, Lyft, Spotify, Visa, Mastercard, Ebay, PayPal, Stripe & Vodafone. But of course the government killed it. Crypto is just private money which ends badly you say? US M3 is over $20 trillion, of which the monetary base is only $5.3 trillion. The vast majority of dollars in existence is private money. Their bank accounts only hold private money. There are intelligent arguments smart people could make against crypto. Then there's this: