TBC Hosts 2nd Annual Summit
The AT&T Hotel and Conference Center at the University of Texas, Austin hosted hundreds of professionals, investors, and legislators for the Texas Blockchain Summit on November 17-18. Amongst the speakers were U.S. Senator Ted Cruz (R-TX), State Senators Angela Paxton (R) and Royce West (D), State Representatives Giovanni Capriglione (R) and John H. Bucy III (D) as well as industry leaders like Anthony Pompliano, Andrew Yang, Peter McCormack, McKenzie Sigalos, CFTC Commissioner Mersinger, and Chad Harris. This two-day summit hosted various discussions on blockchain including bitcoin mining, energy, digital asset innovation, policy, and regulation.
Texas is embracing bitcoin and digital asset infrastructure more than any other state. This summit was a transformative experience to help ignite Texas’ leadership role in the emerging blockchain industry. The summit allowed attendees to gain actionable insight from leaders and policymakers. Additionally, the summit gave guests an opportunity to connect with others in the industry hoping to advance bitcoin and blockchain innovation.
Just days prior to the summit, news broke of the collapse of FTX, the second-largest cryptocurrency exchange, leaving the whole world shocked. Its CEO at the time, Sam Bankman-Fried, was a major donor for the Democratic party and a big player in Washington for the crypto industry. On November 11, FTX filed for Chapter 11 Bankruptcy, according to a company statement posted on Twitter. Bankman-Fried also announced his resignation as CEO and was succeeded by John J. Ray III.
Lee Bratcher, president of the Texas Blockchain Council, took the stage to open the summit, addressing the unfortunate obstacles being faced as a result of FTX’s collapse. He emphasized the importance of continuing the important work of advocacy and education, despite this setback, stating “it’s time to roll up our sleeves and get to work”.
United States Senator, Ted Cruz, spoke at the summit on Friday, voicing strong support for the bitcoin and cryptocurrency industry. Cruz expressed his hope that Texas would become the global epicenter for Bitcoin and digital assets. Thrilled to be back at the summit for a second year in a row, he described himself as “an enthusiastic fan of Bitcoin”. “Thank you for what you’re doing to drive the Texas economy, to drive the American economy, to modernize energy, to strengthen the resiliency of the grid, (and) to enhance economic freedom”, Cruz said to the crowd.
Sam Padilla, a Web3 cloud engineer at Google Cloud, also spoke at the summit, saying that “the actions of a few at FTX do not speak for and do not represent the values of what crypto is actually about”. Padilla remains a firm believer of blockchain and cryptocurrency, recognizing how special this technology is and how it can help the community.
Padilla is also a core member of ATX DAO, a volunteer group focusing on making Austin the world capital of cryptocurrency. The organization has been instrumental in developing legislation in Texas around decentralized autonomous organizations.
The Texas Blockchain Council orchestrated this summit to help push Bitcoin, crypto, and blockchain policy forward. They were able to gather an impressive group of policymakers, entrepreneurs, innovators, and investors to engage in substantive conversations about best practices and constructive policy. The summit was held in the capital of Texas, symbolizing the council’s goal of making Texas a positive environment for regulation and molding a path for other states to follow.
As a result of the TBC’s continuous advocacy for bitcoin and blockchain innovation, Texas has become a hub for Bitcoin miners and innovators from all around the world. The council is working to pave the way for positive regulation and protect consumers within the industry to ensure that Texas remains the jurisdiction of choice for bitcoin, blockchain, and digital assets.