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Crypto Meltdown Exposes Hollowness of its Libertarian Promise

Crypto Meltdown Exposes Hollowness of its Libertarian Promise

To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government—most of all its power to debase a “fiat” currency by printing more of it. Do Kwon, the South Korean creator of the stablecoin TerraUSD, regularly equated fiat currency to “state violence.” So when inflation took off, …

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