Molly White's Citation Needed
Molly White's Citation Needed

Keep up with the happenings in the tech world without all the boosterism. Cryptocurrency critic, technology researcher, and software engineer <a href="https://en.wikipedia.org/wiki/Molly_White_(writer)" target="_blank" rel="noreferrer noopener">Molly White</a> publishes Citation Needed, a newsletter that features weekly explainers of developments in the cryptocurrency industry, with summaries of the latest disasters featured on her well-known project<i> </i><a href="https://web3isgoinggreat.com/" target="_blank" rel="noreferrer noopener">Web3 is Going Just Great</a>. She also does deep dives into important events in the broader technology industry, with added critical context that is too often missing.

With Trump faltering and their policy agenda incomplete, the crypto industry has moved at least $288 million toward the midterms in a desperate bid to keep Republicans in control of Congress. Originally published on February 20, 2026.
As masked agents execute people and terrorize communities, crypto executives who spent years posting about freedom fall conspicuously silent — except when writing checks for the politicians enabling it. Originally published on January 29, 2026.
Coinbase calls the shots in the Senate, former New York City Mayor Eric Adams faces rug pull allegations, and a crypto executive is breaking up with Trump. Originally published on January 19, 2026.
In 2025, Trump brought tech executives into power to dismantle regulators and write their own rules. But the instabilities they’re creating may be their downfall. Originally published on January 7, 2026.
Terra’s Do Kwon gets 15 years, crypto banks get the green light, and the Trump family’s crypto grift expands even as one of their treasury companies goes off the rails. Originally published on December 16, 2025.
Convincing traders to pay $2 for $1 of bitcoin worked — for a while. As premiums evaporate, an unwind could be painful. Originally published on November 25, 2025.
While slumping prices have some fearing it’s crypto winter again, Trump looks to Saudia Arabia and American retail crypto investors to fund the development of his next hotel. Originally published on November 19, 2025.
Sam Bankman-Fried makes his case for a retrial and aspiring crypto banks hit roadblocks. Originally published on November 7, 2025.
President Trump reacts to condemnations of his recent pardon of Binance founder Changpeng Zhao by claiming he doesn’t know who he is. Originally published on November 3, 2025.
Binance’s Changpeng Zhao earns a gold-plated pardon as other industry figures fund Trump’s $300 million ballroom. Originally published October 28, 2025.
October 2025 brought the most dramatic crypto flash crash of all time, but it was only a dress rehearsal for the systemic crisis the industry is building toward. Originally published on October 17, 2025.
Trump is still corrupt, a core developer warns bitcoin won’t survive an upcoming code change, and crypto lenders are ratcheting up leverage like it’s 2022. Originally published on October 8, 2025.
Democratic lawmakers sound corruption alarms while crypto PACs gear up for the midterms. Originally published on September 25, 2025.
Prediction markets once lived on the academic fringe. Now they’re trading billions on politics, sports, and celebrity gossip — under rules never designed for retail gamblers. Originally published on September 16, 2025.
The Trumps “debank” major customers from their “anti-debanking” cryptocurrency venture, and a CFTC nominee says the Winklevosses are blackballing him. Originally published on September 12, 2025.
President Trump’s deregulatory agenda emboldened prediction markets to push boundaries around permitted event contracts. Now sites advised by his son are allowing bets on his death. Originally published on September 2, 2025.
The regulator set to take on primary crypto oversight is down to a single Commissioner, and new pro-crypto PACs focus on installing more Republicans in the midterms. Originally published on August 27, 2025.
A crypto billionaire who once feared arrest in the US is now a Trump business adviser and White House guest. His lawsuit against Bloomberg reveals what he doesn't want Americans to know about his crypto fortune. Originallly published on August 19, 2025.
The Trump administration cracks down on software to limit surveillance of crypto transactions, while celebrating a “deregulatory blitz” tailored for its billionaire benefactors. Originally published on August 13, 2025.
Escape newsletter inbox chaos and algorithmic surveillance by building your own enshittification-proof newspaper from the writers you already read. Originally published on July 31, 2025.
The Trump administration’s regulatory whiplash has left prosecutors scrambling with misattributed chat messages and questionable victim testimony. Originally published on July 28, 2025.
Trump stands to profit from a $2 billion bitcoin bet as the crypto industry pushes through bills aimed at bolstering the sector. Originally published on July 23, 2025.
Crypto firms hope putting a blockchain veneer on traditional equities will allow them to sidestep lessons learned in the 1929 Wall Street crash, crypto firms look to become banks, and Congress celebrates crypto surveillance while claiming to outlaw it. Originally published on July 11, 2025.
Trump’s crypto empire attracts more foreign millions, the FHFA pushes crypto on mortgage lenders, and Mamdani’s mayoral primary win makes billionaires sweat. Originally published on July 1, 2025.
The GENIUS Act passes the Senate after explicit threats to Democrats from the crypto lobby, and shady crypto billionaire Justin Sun cozies up even closer to the Trump family. Originally published on June 19, 2025.
Originally published on June 11, 2025.
As Trump’s web of crypto projects gets tangled up in itself, a regulator warns of “regulatory Jenga” in the crypto sector that echoes the 2008 financial crisis. Originally published on June 5, 2025.
New crypto trading and wallet application, created in partnership with Magic Eden, invites fans of President Trump to buy his memecoin. Originally published on June 3, 2025.
OpenAI's featured chatbot recommends $200,000 in surgeries while promoting incel ideology. Originally published on May 31, 2025.
Coinbase’s substantial data breach coincides with a convenient terms of service update, while the GENIUS Act stablecoin bill regains momentum in the Senate. Originally published on May 20, 2025.
Trump’s crypto conflicts continue to multiply as Democratic legislators demand ethics inquiries and block industry-backed bills. Originally published on May 12, 2025.
Trump's crypto-for-access dinner triggers broad ethics alarms, and 73% non-US attendance raises fresh concerns over foreign influence. Originally published on May 7, 2025.
As Celsius victims detail their devastation even under the weak crypto regulations of the past, the Trump administration continues to dismantle those same rules while he pumps his personal memecoin with promises of private access. Originally published on April 24, 2025.
Inside the Trump family’s sprawling crypto empire — from memecoins to mining — and how Trump is using presidential power to dismantle the regulators who could stop it. Originally published April 17, 2025.
Trump continues to dismantle crypto enforcement while expanding his personal crypto empire. Originally published on April 8, 2025.
As the US government lays a very favorable groundwork for the crypto industry, Trump positions himself for maximum personal profit. Originally published on March 28, 2025.
The crypto industry frees itself from the last remnants of SEC oversight, and Solana tries to appeal to its target demographic by bashing trans people. Originally published on March 20, 2025.
The real threat isn’t AI using open knowledge — it’s AI companies killing the projects that make knowledge free. Originally published on March 14, 2025.
The formerly anti-government bitcoin movement abandons its principles in favor of number-go-up, applauds federal plan to stockpile seized crypto with no clear benefit to national interest. Originally published on March 11, 2025.
Trump tries to breathe life back into the “Trump pump” while federal regulatory agencies wash their hands of any crypto industry oversight. Originally published on March 2, 2025.
A major crypto scandal tarnishes the reputation of Solana bigwigs, crypto influencers, and Argentine President Javier Milei. “This is FTX type of shit,” said a crypto founder confronting Meteora’s Ben Chow over alleged insider trading. Originally published on February 18, 2025.
Cryptocurrency companies have co-opted legitimate concerns about banking discrimination to fight regulation — and Congress is buying it. Originally published on February 14, 2025.
Crypto exchanges face legal troubles, and Trump’s crypto empire grows as regulations are slashed and enforcement is sidelined. Originally published on February 5, 2025.
Exposed PDF metadata from the Office of Personnel Management reveals that Heritage Foundation-linked Trump devotees are writing policies at federal agencies. Originally published on January 27, 2025.
Trump horrifies even some of his crypto-steeped fans by launching a memecoin before his inauguration, and a flurry of activity from the new administration signals what’s in store for the crypto world in the next four years. Originally published on January 24, 2025.
Journalists’ flawed math and ignorance of crypto markets turn tokens into fake fortunes. Originally published on January 20, 2025.
Regulators and lawmakers eagerly prepare to abdicate any last traces of interest in the wellbeing of everyday Americans as they suck up to the powerful billionaires who will soon be publicly calling the shots. Originally published on January 17, 2025.
Terra founder Do Kwon is finally extradited, the CFPB proposes crypto consumer protections, and Polymarket reaches new lows. Originally published on January 10, 2025.
The world's richest man has joined a growing chorus of right-wing voices attacking Wikipedia as part of an intensifying campaign against free and open access information. Originally published on January 2, 2025.
Adversary cases from the FTX collapse further expose how crypto companies do business: with secret acquisitions of “grey area” businesses, buying influence, and creative accounting. Originally published on December 30, 2024.
The SEC is still busy even though it may soon be undermined, crypto industry capture of government continues to worsen, and several media outlets botch their crypto reporting at a time it’s needed most. Originally published on December 23, 2024.
Celsius’ Alex Mashinsky pleads guilty to fraud, some Tornado Cash sanctions are overturned, and billionaires complain about “debanking”. Originally published on December 5, 2024.
The cryptocurrency industry spent almost $200 million to influence the outcomes of the 2024 United States elections. This unprecedented degree of corporate spending from a relatively small industry had a major effect — but probably not in the way you think.Let's talk about where the money came from, where it went, what the cryptocurrency industry's goals are in politics, and what to do now.This is an audio version of my original video.
Crypto’s efforts to buy the 2024 elections paid off, and we’re in for a bumpy ride. Originally posted on November 15, 2024.
A message to those asking “what do I do now?” Originally published on November 8, 2024.
Coinbase threatens me that continuing to report on their activities would be “.... unwise”. Also, election spending hits a fever pitch, with several new crypto PACs coming out of the woodwork. Originally published on November 2, 2024.
Independent publishing is one important facet of the media ecosystem, and while I love it, I know it is not the path for everyone. Originally published on October 26, 2024.
Unpacking my conversation with FTX executive Ryan Salame, where we discussed his claims that he’s innocent of the charges for which he’s now serving seven and a half years in prison. Originally published on October 21, 2024.
Harris shouts out crypto in her “Opportunity Agenda for Black Men”, one crypto exec leaves prison as another enters, and Stand With Crypto bets on the favorites. Originally published on October 16, 2024.
Earlier this year, I gave a talk at the XOXO festival in Portland, Oregon about the very important fight for our web, and how we can all play a part in it. Here's a recording of that talk.
Why did the former Alameda Research CEO receive only two years imprisonment for her role in the FTX collapse? Originally published on October 2, 2024.
A simple technique offers the best of both worlds: total control over your own work, while still maintaining a presence on third-party platforms. Originally published on September 27, 2024.
Crypto resurfaces on the campaign trail and the FTX fallout continues to unfold. Also, merch! Originally published on September 23, 2024.
FTX fraudster Sam Bankman-Fried says he wants a do-over, and some more ill-received blockchain games suggest “GameFi” has an uncertain future. Originally published on September 17, 2024.
The recent Second Circuit decision in Hachette v. Internet Archive is only the latest battle in the war on libraries and the freedom to read. Originally published on September 12, 2024.
Even the most pro-Trump crypto faithful think Trump’s new crypto scheme is a terrible idea. Also, an FTX crypto executive earns some benefit of the doubt, a lawsuit accuses “Pharma Bro” Martin Shkreli of disrespecting the Wu-Tang Clan, and there's a hamburglary.Originally published on September 6, 2024.
Paradigm has polled some Democratic voters about crypto and released a summary of their results. How does it stack up to other industry polls, which are often heavily manipulated to paint a deceptively rosy picture? Originally published on August 30, 2024.
As parts of the crypto industry scramble to court the Harris administration with events like “Crypto4Harris”, others insist it is Harris who must “bend the knee”.Originally published on August 17, 2024.
I'm joined by investment strategist and bitcoiner Lyn Alden to continue an earlier conversation about sexism in the bitcoin world.Links we discuss in this interview:DL News article on the gender breakdown of speakers at Bitcoin 2024Association for Women in Cryptocurrency (AWIC) "State of Inclusion" survey Pantera survey on gender and pay in the industry"Understanding Bitcoin Adoption in the United States: Politics, Demographics, & Sentiment" by Andrew Perkins and Troy CrossPeter McCormack's podcast, What Bitcoin DidLetter to the DNC by Democratic Congresspeople and candidatesA Progressive's Case for BitcoinProgressive Bitcoiner podcast
Coinbase responds to campaign finance violation allegations, Trump panders to bitcoiners, and I talk about my chat with Lyn Alden about sexism in bitcoin.Originally published on August 7, 2024.
Actively involved in contract negotiations with a federal government agency, Coinbase was likely prohibited from making its $25 million contribution to the Fairshake crypto super PAC in May 2024.Originally published on July 30, 2024, and updated on August 5.
I don’t believe that it has. In addition to all the spending, the cryptocurrency industry has been working overtime to sell a story: that there is a large contingent of voters who will be strongly factoring in candidates’ crypto policy stances when they vote in the upcoming elections. The problem is, it’s a story that does not seem to be well supported by data.Originally published on July 29, 2024.
Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a meltdown, and another exchange suffers a nine-figure hack. Originally published on July 23, 2024.
FollowTheCrypto.org: A new project to track cryptocurrency industry spending to influence 2024 elections in the United States. Originally published on July 12, 2024.
How will recent Supreme Court decisions affect the crypto world? Also, more absurdity from the crypto lobby, and some new regulatory actions. Originally published on July 5, 2024.
The crypto industry jumps on the Trump train. Originally published on June 24, 2024.
Are US legislators warming to crypto? The SEC approves Ethereum ETPs, and a crypto bill gets through the House. Originally published on June 7, 2024.
As election season kicks into high gear, we need to watch how cryptocurrency companies are influencing US politics. Originally published on May 30, 2024.
I am more worried about privacy than crypto crime. Originally published on May 23, 2024.
The Justice Department worries about the stability of Ethereum, DCG tries to bilk their subsidiary's creditors, and Biden threatens a crypto veto. Originally published on May 18, 2024.
Changpeng Zhao's sentencing, FOIA requests reveal past FBI investigations into Coinbase, and the SEC is on a Wells notice bender. Originally published May 7, 2024.
Many yearn for the "good old days" of the web. We could have those good old days back — or something even better — and if anything, it would be easier now than it ever was. Originally published on May 1, 2024.
The Binance CEO's sentencing draws near, and prosecutors have been busy chasing down other crypto criminals. Also, lawmakers take another stab at stablecoin regulation. Originally published on April 25, 2024.
AI can be kind of useful, but I'm not sure that a "kind of useful" tool justifies the harm. Originally published on April 17, 2024.
The bitcoin "halving" looms, and that may not be as good news as coiners hope. Also, Terra committed fraud and Uniswap got a Wells notice. Originally published on April 13, 2024.
Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two other cases against crypto companies have survived motions to dismiss. Originally published on April 2, 2024.
"The judgment has to adequately reflect the seriousness of the crime, and this was a very serious crime." Originally published on March 28, 2024.
Sam Bankman-Fried maintains that his crimes were victimless and resulted in zero losses, and therefore warrant only six years of imprisonment. Prosecutors argue that 40–50 years are justified. Originally published on March 26, 2024.
Euphoria has risen along with crypto prices, but nothing has changed from the last bubble. Originally published on March 13, 2024.
Bitcoin prices are spiking. Are we in for another round of crypto mania? Also, Sam Bankman-Fried doesn't want to go to jail for 100 years. Originally published on February 29, 2024.
It's been a quiet few weeks in the world of crypto disasters... too quiet. Originally published on February 14, 2024.
"Ownership" means ten different things to ten different people. Let's talk about what we actually want. Originally published on February 11, 2024.
Prominent crypto venture capitalist Chris Dixon provides an unconvincing bible for blockchain solutionists. Originally published on February 7, 2024.
Governments seize huge quantities of bitcoin, and a few people seem to be yearning for the days of peak crypto mania. Originally published on February 2, 2024.
Bitcoin ETP approval, God-sent crypto scammers, and more trouble in Justin Sun's world. Originally published on January 22, 2024.
This is the audio-only version of my video entitled "The charges against Binance".The charges against Binance: what are the accusations, and what's next for Binance and its former CEO, Changpeng "CZ" Zhao? Attribution and sourcing for this video are available at https://mollywhite.net/attribution/binance. Disclosures for my work pertaining to cryptocurrencies are at https://www.mollywhite.net/crypto-disclosures.
Bitcoin ETF fakeouts, imaginary CEOs, and a bridge hack make for an eventful start to the new year.Originally published on January 9, 2024.
All my "absolute top tier apes" gone, anti-rug-pull rug pulls, and an update on this newsletter. Originally published on December 26, 2023.
Cheating chess-players, cursed mansions, and more defi centralization. Originally published on December 15, 2023.
Rising bitcoin prices bring echoes of the crypto mania from years past, and an ambitious hacker decides to manifest a new job for themselves. Originally published on December 5, 2023.
Silicon Valley's "effective altruism" and "effective accelerationism" only give a thin philosophical veneer to the industry's same old impulses. Originally published on November 25, 2023.
The Justice Department's interest in Binance isn't just "FUD" anymore. Originally published on November 21, 2023.
Two crypto firms emerge from bankruptcy, and a Bored Ape party turns out even worse than it sounds. Originally published on November 9, 2023.
From billions of mysterious Tethers to the apparent identity theft of Thai sex workers, many questions remain about what happened at Bankman-Fried's crypto empire. Originally published on November 14, 2023.
Jurors spent less than five hours deliberating before returning the verdict. Originally published on November 2, 2023.
Bankman-Fried comes off as sullen and cagey in his cross-examination in front of the jury. Originally published on November 1, 2023.
Taking the stand before the jury for the first time, Sam Bankman-Fried recounts familiar events we've heard described by previous witnesses, but gives a very different version of those stories. Originally published on October 30, 2023.
After a few other brief witnesses, it was time for the main event — or, at least, a preview of it. Originally published on October 29, 2023.
I'm taking this show on the road to hear Sam Bankman-Fried testify in person. Originally published on October 26, 2023.
Is the defense team doing as poorly as it looks, or do they have a trick up their sleeves? Originally published on October 19, 2023.
Sam Bankman-Fried's direct messages to a journalist about "unethical shit" were admitted as evidence, much to the dismay of his legal team. Originally published on October 19, 2023.
The defense team finally scores a few points, and cell phone records reveal Bankman-Fried's extensive influence tour in Manhattan. Originally published on October 18, 2023.
Singh testified that Bankman-Fried pressured him into trying to dig FTX out of a hole he didn't even know about until the very end. Originally published on October 17, 2023.
BlockFi's CEO testifies that the company wouldn't have loaned to Alameda Research if they had any idea what was really going on. Originally published October 14, 2023.
Recordings of the now infamous all-hands meeting capture Caroline Ellison admitting to conspiring with Sam Bankman-Fried to misappropriate FTX customer funds. Originally published on October 13, 2023.
"Alternate" balance sheets, bribes, Saudi financing, and a painfully intertwined personal and professional life were among the topics described by Sam Bankman-Fried's former employee and girlfriend. Originally published on October 12, 2023.
Caroline Ellison testifies about Sam Bankman-Fried's appetite for risk, involvement in Alameda Research, and even his presidential aspirations. Originally published on October 10, 2023.
The jury got a taste of code review as they examined a falsified "insurance fund" and the infamous FTX → Alameda Research "backdoor". Originally published on October 9, 2023.
Meanwhile, the defense tries to argue that if Sam Bankman-Fried was a criminal, he would've bought a fancier car. Originally published on October 5, 2023.
The death penalty is not on the table, the judge reassured one prospective juror. Originally published on October 5, 2023.
Key witnesses and the likely legal strategies about to unfold in the historic case ahead: United States v. Sam Bankman-Fried. Originally published on October 2, 2023.