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It’s a dazzling afternoon by the water in lower Manhattan—the Hudson River is glistening in the sun, the yachts are glinting in the marina—and yet one light outshines it all: Anthony Di Iorio’s shoes. Just saying the words felt like a throwback to another time, another day when cryptocurrency prices weren’t plunging, when people weren’t talking about Bitcoin exchange hacks, mining scams and app store bans.
The following day, the Bitcoin price fell to its lowest point all year, $6,261. And then it occurred to me: This weekend marks six months since Bitcoin hit $20,000 on December 17, 2017; we’ve now slid nearly 70% of the way back down.
Even the memory of that exuberant run-up got a face full of cold water this week when the New York Times published the findings of a new study that attributed 50% of Bitcoin’s rise last year to market manipulation. Not that Di Iorio, founder and CEO of blockchain company Decentral (which makes the Jaxx cryptocurrency wallet) is fazed.
Nor does he have any shame in telling a reporter that he purposely pays little attention to news, though he observes that there’s been “a lot more negative sentiment in the media” this year, largely to do with regulatory threats to crack down on cryptocurrencies. Di Iorio had spent part of last week on Capitol Hill, meeting with roomfuls of CFTC officials and lawmakers, trying to ease them away from black-and-white definitions for categorizing cryptocurrencies as securities, and coaxing them to see things through his vision of the future. Read more from fortune.com…
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