ItBit Unveils New Board Confirming Qntra Report

Today New York based ItBit exchange unveiled its new board and charter to operate as a financial services company from the New York Department of Financial Services. ItBit's announcement today confirms Qntra's April 16th report that former Federal Deposit Insurance Corporation chair Sheila Blair has joined ItBit's corporate board. Among those joining Blair is former New Jersey Senator Bill Bradley. ItBit insists its charter from New York allows it to legally operate in all 50 members of the United States in spite of Federalism. CoinBase earlier announced licensing to operate as an exchange in all 50 states, an assertion which was later found to be questionable.

These announcements show the continued desperation by persons associated with the fiat kleptocracy of the United States to try to grab any foothold they can in the Bitcoin ecosystem as well as their continued inability to maintain secrets long enough to control their disclosure. Ventures working for the old order like ItBit will continue to court agents like Blair and Bradley who have dedicated substantial portions of their lives towards the continuation of the fiat system in the United States. These ventures will continue to compete with each other through grandstanding and assertions that they are the most embedded in the ways of the old order of all of their competitors.

While decidedly fiat backed ventures continue to compete for the perception of control over Bitcoin, Bitcoin will continue on in active spite of them. Material components of their grandstanding announcements will continue to leak weeks and months before their intended, controlled announcements. Bitcoin will abide as the fiat order tears it self apart trying to clench any plank that might gift it relevance. Qntra will similarly abide bringing the news before its subjects are willing to deign it to happen whether the subject is the scrappy startup BitPay trying to fit its budget to its capital or the over capitalized ItBit throwing every name and office it can behind its attempt at legitimacy.

2 thoughts on “ItBit Unveils New Board Confirming Qntra Report

  1. "ItBit throwing every name and office it can behind its attempt at legitimacy."

    Market-based legitimacy will always trump any flavor of institutional or political legitimacy. Bitcoin outlives political institutions.

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