Lucas Moore
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lucascmoore.bsky.social
Lucas Moore
@lucascmoore.bsky.social
38 followers 35 following 260 posts
I make molecules.
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lucascmoore.bsky.social
Why is this whole thing written in present tense? Right now it does nothing and is nothing.
January 21, 2026 at 8:06 PM
Reposted by Lucas Moore
molly.wiki
The crypto lobby wrote their dream bill. Senators proposed some amendments. Coinbase tweeted their disapproval, and Senate Banking Chair Tim Scott immediately canceled the markup. When you spend $130M, you expect to get exactly what you want.
Last Wednesday afternoon, Coinbase withdrew its support for the Senate’s draft market structure bill, citing concerns about limits on tokenized stocks and stablecoin rewards, burdensome requirements for defi protocols, and excessive authority granted to the SEC.1 Within hours, Senate Banking Committee Chair Tim Scott (R-SC) canceled the markup hearing scheduled for the following day. While mainstream news sources are often hesitant to draw cause and effect between two suspiciously timed events, it was too overt even for them, with the New York Times writing that Coinbase had “scuttled” the vote.2 Coinbase further emphasized its degree of control over the Senate when CEO Brian Armstrong stated in an interview with CNBC, “We’ve got a chance to do a new draft and hopefully get back into a markup in a few weeks” — speaking as if Coinbase, not Congress, controlled both the drafting process and legislative calendar. This is nothing new — just the latest demonstration of the crypto industry’s power over Congress after it spent over $130 million installing allies in the 2024 election. Within weeks, House Agriculture Committee Chair GT Thompson (R-PA) made the new power dynamic explicit when he said how crypto legislation was being drafted in “tripartisan” fashion, with the crypto industry forming the new third political wing of Congress [I76]. In an alternate universe, Congress might be focused on passing laws that don’t elevate the interests of corporations and oligarchs above the everyman. Ones that ensure the stability of the American financial system, protect consumers, address officeholder ethics concerns, and prevent financial crimes. Sadly, in this universe, lawmakers are primarily concerned with satisfying the demands of their newest and most generous campaign contributors. Senate Banking Ranking Member Elizabeth Warren (D-MA) told Politico, “These are folks who think that when they’ve bought themselves a Congress, then they expect it to behave the way they say.”3 After a year of this Congress, it would be hard to argue they’re wrong.
January 19, 2026 at 5:39 PM
lucascmoore.bsky.social
I really didn’t anticipate how moving to southern California would result in me getting to see so much Very Cool Space Stuff going on overhead.
January 15, 2026 at 8:51 AM
lucascmoore.bsky.social
I wish I could be one percent as cool as Jason Isaacs taking off his jacket.
January 12, 2026 at 11:57 PM