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Pam and Russ Martens: Brightest tech minds say crypto and blockchain are shams
By Pam and Russ Martens
Wall Street on Parade
Wednesday, Junly 13, 2022
The letter is a punch in the gut to the Wall Street underwriters who have brought billions of dollars of crypto related companies to the public markets, most of which have now collapsed in price.
It makes the billionaire venture capitalists who have invested billions in crypto startups look like fools. And it renders the big-name celebrities who have promoted this garbage in TV commercials look like the shills that they are.
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The letter was sent to key members of Congress and to the chairs of the Senate Banking and House Financial Services Committees. It is signed by more than 1,600 computer scientists, software engineers, and technologists from around the world.
There are 45 signatories who currently work at Google; 19 who work at Microsoft; and 11 employed at Apple. (Those three companies currently have a collective market capitalization of more than $5.75 trillion; they can afford to hire the best and the brightest.)
There are signatories that are Ph.Ds from the most prestigious universities, including the University of Oxford and MIT. And all 1,600 have signed a letter that says this about crypto and blockchain ...
... For the remainder of the commentary:
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