It's been a crazy week for Bitcoin watchers. But does it matter if people find out who Satoshi Nakamoto is?
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Howdy! Here is Ed.
If you were listening carefully on Wednesday night, that was the loudest noise you heard in the cryptoverse.
That's when HBO's “Money Electric: The Bitcoin Mystery” aired.
The creator promises to unmask Satoshi Nakamoto, the mysterious founder of Bitcoin, whose identity has been hidden for 15 years.
Satoshi's identity isn't just a curiosity – Coinbase is one of the companies listed as unmasking him as a risk to its business model.
All the usual suspects have materialized in stories and podcasts about potential disclosures. Szabo, Sassaman, Back, Le Roux and Kleiman each made cameos in the coverage.
Craig Wright also gets some ink as he punishes a failed attempt to claim Satoshi's mantle.
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Many have tried to solve the great mystery of modern finance.
Two things make this effort different: First, it's television, so there will be plenty of clips on social media. And secondly, Polymarket.
News of the film didn't stop there until the betting site's prediction market came to life, quickly climbing to $20 million.
Initially, the brilliant dev Len Sassaman, who died in 2011, received a lot of acclaim.
By Tuesday, the odds had changed. His widow Ekin tells Jen that she is not her late husband Satoshi.
As Liam Kelly reports, Nick Szabo, a computer scientist and cryptographer long thought to be Satoshi, drew the smart money on the Polymarket pool, despite his denials.
By Tuesday night's big reveal, the bottom fell out of the market.
HBO points to Adam Back's protégé Peter Todd, who was a teenager at the time of Bitcoin's creation.
In a segment that has become an instant classic, Todd laughs off director Cullen Hoback's argument as “ridiculous.”
Some enjoyed Todd's jousting with Hoback in the film. But Todd was quick to set the record straight.
“I didn't trick Cullen Hoback,” he said He tweeted on wednesday “I think he needs a stunt to hype his movie.”
There was little doubt about that. Regardless of what you think of the movie's claims, the marketing team at HBO has to be given a big thumbs up.
In the years to come, there are Satoshi's identity, more contrived revelations and dead ends.
As for Bitcoin, it is indifferent to the spectacle of its creation. As of Friday, it had fallen 1.3% over the past seven days.
How Molly White went from Neopets genius to crypto truth teller
Molly White has been called “a shrewd critic of the crypto frenzy.” Check out Joanna Wright and my interview with her.
Binance exec's bail petition dismissed on technicality
Binance executive Tigran Gambarian, who is in jail in Nigeria, has suffered another setback. Osato Awan-Nomayo reports.
Robinhood, Revolut and PayPal Lead Corporate Crypto Moves: 'The Floodgates Are Starting to Open'
Traditional financial powerhouses are making digital assets a key part of their strategies. Eric Johnson and Joanna check it out.
Post of the week
FTX executive Ryan Salam, who pleaded guilty to violating campaign finance laws and operating an unlicensed money transmitter business, used LinkedIn announce The start of his seven-and-a-half-year prison sentence.
