With crypto in retreat, central banks take a quantum leap to cryptography

What will thrive even after this year's meltdown, however, is cryptographic money.

In the chaos surrounding the collapse of Sam Bankman-Fried’s empire, it’s easy to lose sight of what has died in this year’s crypto carnage and what lives on. The biggest casualty is “anarcho-capitalism,” championed by engineer Timothy May in the 1990s as cyberspace interactions unconstrained by external regulation, taxation or interference — in short, an absence of government.
 

That libertarian zeal, coded in the DNA of Bitcoin and every other virtual token, won’t survive the recent turmoil in the blockchain world. If investors must turn to courts to recover their FTX losses, they’ll want intermediaries and protocols to be supervised