Cathie Wood Thinks the U.S. Crypto Exodus Is Here. Is It?

When he first took office as head of the U.S. Securities and Exchange Commission (SEC) in 2021, Gary Gensler warned crypto projects that he would be skeptical of “decentralization theater.” That’s a category of misleading claims sometimes made by DAOs [decentralized autonomous organizations] or protocols to be effectively leaderless (and therefore maybe unprosecutable), when in fact they have an obvious core leadership team.

Now, the ongoing regulatory crackdown by Gensler and the broader Biden administration appears to be triggering a different kind of decentralization: major crypto firms leaving the United States.

This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and

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