TechFlow reports on May 16 that the latest article from The Economist states cryptocurrencies have evolved into a classic "swamp asset." Although the cryptocurrency industry initially dreamed of transcending politics, it has now become synonymous with self-serving behavior. The article describes trillions of dollars worth of cryptocurrencies on blockchains as the most severe case of self-interest in American politics. "Swamp asset" is a metaphorical term used by The Economist to describe assets that originally claimed to rise above politics but ultimately became mired in political quagmires—financial instruments rife with conflicts of interest, self-serving actions, and lack of transparency. This term implies that the cryptocurrency industry has drifted from its original ideals of decentralization and transparency toward a domain controlled by a few, where ordinary investors struggle to receive fair treatment, much like a corrupt swamp needing to be "drained" in political discourse.
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