# The Crypto Squeeze

By [jer979](https://paragraph.com/@jer979-2) · 2023-03-06

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Right now, crypto is in a tough spot.

On the one hand, there is a horrific user-experience, millions of dollars worth of hacks, scalability issues, and confusing security models.

On the other hand, the SEC and the anti-crypto forces in government and finance are on the offensive and feeling empowered, as [Former Chief, SEC Office of Enforcement, John Reed Stark](https://twitter.com/JohnReedStark/status/1631828255933169666) tweeted:

[https://twitter.com/JohnReedStark/status/1631828255933169666](https://twitter.com/JohnReedStark/status/1631828255933169666)

We’re solidly in Phase 2 of Schopenhauer’s 3 Phases.

Gradually, then suddenly.

![](https://storage.googleapis.com/papyrus_images/c01f94885bbb15a0b8f4baf336f71d2539374a05edee61b60d16fa98a3fe5571.png)

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*Originally published on [jer979](https://paragraph.com/@jer979-2/the-crypto-squeeze)*