Crypto Investor Newsletter: Brazil’s Lula on Crypto + US Midterms and Crypto

Welcome to this week’s Crypto Investor!

Brazil has a new president, but it remains to be seen how Lula’s return to power will affect the country’s growing crypto industry. According to Chainalysis, Brazil has one of the world’s highest rates of crypto adoption (ranking seventh worldwide). This summer, a record 12,000-plus Brazilian companies bought crypto, indicating the sector is making inroads into the world’s 12th largest economy. Earlier this month, the country’s largest digital bank, Nubank, even announced that it is unveiling its own cryptocurrency.

Leftist President Luiz Inácio Lula da Silva has gone on record saying that the government should “monitor the impact of the crypto market on the health of the financial system.” He believes Brazil’s central bank should draw up regulations to prevent the illegal use of crypto for money laundering and fraudulent trading. “Crypto-assets have grown a lot in recent years and … deserve the attention of the authorities,” he said.

In this newsletter, we have a summary of the latest crypto news along with a look at the role of crypto super PACs in the upcoming midterm elections.

Fun fact: Today is also the 14th anniversary of the iconic Bitcoin white paper written by Satoshi Nakamoto, a pseudonymous figure whose identity we still do not know.