Ryan Sean Adams

I was very interested in this exchange between a Texas Republican who asked the Secretary of War, Pete Hegseth, about Bitcoin, framing it as kind of a matter of national security.

Does he think so?

And Hegseth said, yes, I do think so.

And then he added this, a lot of things we are doing

Enabling it or defeating it, he's referring to Bitcoin, are classified efforts that are ongoing inside our department.

This is kind of interesting to me, the idea of defeating something like Bitcoin.

And it just struck me last week that

This could be the moment that cryptocurrency networks like a Bitcoin or an Ethereum are tested in ways that they haven't been tested.

I mean, part of the purported value of this technology is that they have sovereignty and decentralization and nation state grade level security.

And I kind of wonder if they will actually pass this test or not.

And what Hegseth might mean when he's talking about defeating something like Bitcoin.

So say the IRGC keeps their next $350 million in assets in Bitcoin on the Bitcoin network instead.

Does the Department of War have a way to defeat that, to access that?

Is that maybe what we were talking about earlier in our conversation?

Like, what do you think about this?

So you're not aware of any kind of classified super secret way that the U.S.

government has to defeat Bitcoin in some way?

I don't think I'm... These days, I am not privy to any...

Okay, so as we wrap this up and bring this to a close, so as I mentioned at the outset, April was DeFi's worst month ever, maybe over 600 million in hacks.

I don't know about total volume size, but just in the number, there was one hack every 27 hours.