Katie Haun, General Partner at a16z crypto, acknowledges the high rate of fraudulent initial coin offerings during a 2018 debate with economist Paul Krugman.
Assertion Not checkable as stated
Haun: U.S. government is not actively trying to trap ICO projects
“I do want to dispel the notion that the government is sitting there trying to trap, you know, an ICO project or a cryptocurrency project and saying, aha, we got you. That's just not the case. The fact of the matter is the government doesn't hurt for business w…”
Insight
Haun: Criminals serve as early adopters and beta testers for tech innovations
“I mean, they're the best beta testers of new technologies in many ways. And that's been true, not just of cryptocurrencies, right? That's been true of all kinds of things. If you think of cell phones, if you think of email, social media, the internet, and just…”
Assertion Partly supported
Haun: Blockchain technology itself has never been hacked, unlike crypto exchanges
“And we, blockchain's never been hacked. Some of the cryptocurrency exchanges have been hacked. You know, Mt. Gox, Coincheck more recently, Bitfinex, and others. But the blockchain itself has never yet been hacked.”
Assertion Contradicted
Haun prosecuted Wells Fargo executives for stealing from deceased customers
“When I was a prosecutor, I prosecuted Wells Fargo's executives for taking dead people's accounts and draining them of money. They basically found out who hadn't used their account for, you know, many years, and then they would drain the money to their own pers…”
Assertion Supported
Haun: Moving offshore will not protect crypto startups serving US consumers
“Well, I don't think they should wait, but I think they should have common sense and good judgment, and one of the red flags I see sometimes is, you know, and they'll publicly state, oh, we're moving offshore so that we don't have to comply with these laws that…”
Prediction Not checkable as stated
Haun: Regulators won't prioritize crypto startups making best-effort compliance attempts
“Just try, and I think that those cases where people are demonstrating best efforts are not going to be the vehicles that the government regulators are going to want to choose.”