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A Look at DCG & Bitfury's Incestuous Ties With the U.S. Government

Posted by3 years ago

A Look at DCG & Bitfury's Incestuous Ties With the U.S. Government

Peter Todd Tweet in 2014:

.@socrates1024 I gotta say, looks really bad legally how Austin Hill's been negotiating deals w/ pools/etc. to get control of hashing power.

Board of Digital Currency Group

Glenn Hutchins

  • Economic advisor to Bill Clinton

  • Board member of NASDAQ OMX

  • Board member of Federal Reserve Bank of New York

  • Chairman of Silver Lake Partners

  • Wikileaks: “Private equity investor and former Bill Clinton advisor Glenn Hutchins conspired with Hillary Clinton campaign manager John Podesta and Center for American Progress president Neera Tanden to ambush GOP nominee Donald Trump during a live television interview, leaked emails reveal.”

  • Good pals with John Podesta:

  • A Chairman at World Economic Forum
    Glenn Hutchins is chairman of North Island and a co-founder of Silver Lake, the global leader in technology investing. He is a director of both AT&T and NASDAQ OMX; a director of the Federal Reserve Bank of New York; vice chairman of both the Brookings Institution and the Economic Club of New York; and a member of the Executive Committee of the New York Presbyterian Hospital. He is an owner and member of the Executive Committee of the Boston Celtics basketball team. Mr. Hutchins is a director of the Harvard Management Company, which is responsible for the Harvard University endowment, and co-chairman of the University’s capital campaign. He is also a board member of the Center for American Progress as well as a Fellow of the American Academy of Arts and Sciences. Previously, Mr. Hutchins served President Clinton in both the transition and the White House as a special advisor on economic and health-care policy. He was also previously chairman of the board of SunGard Data Systems, Inc. and Instinet, Inc. Mr. Hutchins and his wife, Debbie, founded the Hutchins Family Foundation which, among other projects, has created the Hutchins Center for African and African-American Research at Harvard University, which is chaired by Mr. Hutchins; the Hutchins Center on Fiscal and Monetary Policy at The Brookings Institution; and the Chronic Fatigue Initiative, which conducts basic research into the cause of chronic fatigue syndrome.

Advisory Board

Larry Summers

  • Born in New Haven, Connecticut, Summers became a professor of economics at Harvard University in 1983. He left Harvard in 1991, working as the Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act.

  • Following the end of Clinton's term, Summers served as the 27th President of Harvard University from 2001 to 2006. Summers resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty, which resulted in large part from Summers's conflict with Cornel West, financial conflict of interest questions regarding his relationship with Andrei Shleifer, and a 2005 speech in which he suggested that the under-representation of women in science and engineering could be due to a "different availability of aptitude at the high end," and less to patterns of discrimination and socialization.

  • After his departure from Harvard, Summers worked as a managing partner at the hedge fund D. E. Shaw & Co., and as a freelance speaker at other financial institutions, including Goldman Sachs, JPMorgan Chase, Citigroup, Merrill Lynch and Lehman Brothers. Summers rejoined public service during the Obama administration, serving as the Director of the White House United States National Economic Council for President Barack Obama from January 2009 until November 2010, where he emerged as a key economic decision-maker in the Obama administration's response to the Great Recession. After his departure from the NEC in December 2010, Summers has worked in the private sector and as a columnist in major newspapers. In mid-2013, his name was widely floated as the potential successor to Ben Bernanke as the Chairman of the Federal Reserve, though after pushback from the left, Obama eventually nominated Federal Reserve Vice-Chairwoman Janet Yellen for the position.

DCG of course is an investor in both Blockstream and BTCC.

DCG's money comes from:

  • Bain Capital Group

  • Mastercard

  • CIBC

  • FirstMark Capital

  • New York Life

  • Novel TMT Ventures

  • Oak HC/FT

  • RRE Ventures

  • Solon Mack Capital

  • The Whittemore Collection

  • Transamerica Group

  • OMERS Ventures

  • HCM International Co

  • Prudential Financial

  • Western Union

DCG also owns Coindesk.

BTCC and Bitfury are the only two large mining pools who are outspoken in their support of Bitcoin Core.

The Bitfury Group Leadership to Present at Clinton Global Initiative (

Full Video (Begins at 32:00)

“The Bitfury Group is proud to be the world’s leading full service Blockchain technology company, we are deeply honored to represent this innovation to an audience of extremely dedicated game-changers, and we look forward to highlighting our company’s groundbreaking ‘Blockchain for global good’ work at such an important event, said Smith. “From the White House to the Blockchain, I know this technology has the power to deliver inclusion and opportunity to millions, if not billions, of people around the world and I am so grateful to work for a company focused on such a principled vision.”

Bitfury Lightning Implementation

  • In partnership with a French firm called ACINQ (

  • ACINQ is a subsidiary of the larger ACINQ Financial Services

  • CoinTelegraph: Bitfury Lightning Network Successfully Tested With French Bitcoin Company

  • TEAM:

  • ACINQ’s US Headquarters is in Vienna, Virginia, a small town of only 16,000. Why would a global financial firm choose to locate here?
    -- Feeder community into Washington, D.C. Has an orange line metro stop.
    -- Located in Fairfax County, VA.
    -- The US Federal Government is the #2 largest employer
    -- Booz Allen Hamilton (NSA front company) is #6 largest employer
    -- In fact, most of the top employers in Fairfax County are either US Federal Gov’t or companies that provide services to Federal Government
    -- The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence.

Chairman: Avinash Vashistha

CEO: Chaman Baid

CSO: Nandan Setlur


  • From 1986-1993 he worked for Information Management Consultants (imc) Ltd as a Technical Consultant with various federal government agencies. McLean, Virginia

  • 1993-2000 Technical Consultant for Freddie Mac, in McLean Virginia

  • From 2000-2007, President of InterPro Global in Maryland

  • From 2011-2012, Director of VibbleTV in Columbia, Maryland

  • From 2008-Present has been Executive Director at ACINQ and Managing Partner at Vine Management, both in Vienna, Virginia.

BitFury Enhances Its Advisory Board by Adding Former CFTC Chairman Dr. James Newsome and Renowned Global Thought Leader and President of the Institute for Liberty and Democracy Hernando de Soto (Businesswire)

Bitfury Board of Directors

Robert R Dykes

The other board members include two Bitfury founders, and an investor.

Bitfury Advisory Board

James Newsome

  • Ex-chairman of CFTC

  • Dr. Newsome was nominated by President Clinton and confirmed by the Senate to be at first a Commissioner and later a Chairman of CFTC. As Chairman, Newsome guided the regulation of the nation’s futures markets. Additionally, Newsome led the CFTC’s regulatory implementation of the Commodity Futures Modernization Act of 2000 (CFMA). He also served as one of four members of the President’s Working Group for Financial Markets, along with the Secretary of the Treasury and the Chairmen of the Federal Reserve and the SEC. In 2004, Newsome assumed the role of President and Chief Executive Officer of the New York Mercantile Exchange (NYMEX) where he managed daily operations of the largest physical derivatives exchange in the world. Dr. Newsome is presently a founding partner of Delta Strategy Group, a full-service government affairs firm based in Washington, DC.

Hernando de Soto

  • Hernando de Soto heads the Institute for Liberty and Democracy, named by The Economist one of the two most important think tanks in the world. In the last 30 years, he and his colleagues at the ILD have been involved in designing and implementing legal reform programs to empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations by granting them access to the same property and business rights that the majority of people in developed countries have through the institutions and tools needed to exercise those rights and freedoms. Mr. de Soto also co-chaired with former US Secretary of State Madeleine Albright the Commission on Legal Empowerment of the Poor, and currently serves as honorary co-chair on various boards and organizations, including the World Justice Project. He is the author of “The Other Path: the Economic Answer to Terrorism”, and his seminal work “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”

  • Frequent attendee at Davos World Economic Forum

  • Frequent Speaker @ Clinton Global Initiative

  • Criticisms:
    -- In his 'Planet of Slums'[104] Mike Davis argues that de Soto, who Davis calls 'the global guru of neo-liberal populism', is essentially promoting what the statist left in South America and India has always promoted—individual land titling. Davis argues that titling is the incorporation into the formal economy of cities, which benefits more wealthy squatters but is disastrous for poorer squatters, and especially tenants who simply cannot afford incorporation into the fully commodified formal economy.
    -- An article by Madeleine Bunting for The Guardian (UK) claimed that de Soto's suggestions would in some circumstances cause more harm than benefit, and referred to The Mystery of Capital as "an elaborate smokescreen" used to obscure the issue of the power of the globalized elite. She cited de Soto's employment history as evidence of his bias in favor of the powerful.

Tomicah Tilleman


  • Dr. Tomicah Tillemann is Director of the Bretton Woods II initiative. The initiative brings together a variety of long-term investors, with the goal of committing 1% of their assets to social impact investment and using investments as leverage to encourage global good governance. Tillemann served at the U.S. State Department in 2010 as the Senior Advisor on Civil Society and Emerging Democracies to Secretary Hillary Clinton and Secretary John Kerry. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Tillemann received his B.A. magna cum laude from Yale University. He holds a Ph.D. with distinction from the School for Advanced International Studies at Johns Hopkins University (SAIS) where he also served as a graduate level instructor in American foreign policy.

  • Secretary Clinton appointed Tomicah Tillemann, Ph.D. as the State Department’s Senior Advisor for Civil Society and Emerging Democracies in October 2010. He continues his service under Secretary Kerry.

  • Mr. Tillemann and his team operate like venture capitalists, identifying ideas that can strengthen new democracies and civil society, and then bring together the talent, technology and resources needed to translate promising concepts into successful diplomacy. He and his team have developed over 20 major initiatives on behalf of the President and Secretary of State.

  • Mr. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009 and collaborated with her on over 200 speeches. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Mr. Tillemann’s other professional experience includes work with the White House Office of Media Affairs and five U.S. Senate and Congressional campaigns. He was a reporter with Reuters New Media and hosted a commercial radio program in Denver, Colorado.

  • Director of “Bretton Woods II” initiative at New America Foundation Bretton Woods was an international summit that led to the creation of the IMF and the IBRD, one of five members of The World Bank

Jamie Smith

Jason Weinstein

Paul Brody (no longer appears on site, and his LinkedIn has no mention of Bitfury, but he is mentioned in a Press Release


  • Ernst & Young since 2015 as “Americas Strategy Leader”, “Global Innovation Leader”, and “Solution Leader”

  • Prior to E&Y, he was an executive at IBM since 2002

New America Foundation

Muskoka Group

[note: this is worthy of much more research]


  • Don Tapscott, co-author of the book “Blockchain Revolution,” hosted the meeting with his son and co-author Alex Tapscott at his family’s summer compound in Lake of Bays, Ontario. The group included some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan. They considered ways to improve the governance and oversight of the technology behind the digital currency bitcoin as a way to fuel the industry’s growth. They included Jim Zemlin, executive director of the Linux Foundation; Brian Behlendorf, executive director of the Hyperledger Project, a blockchain supporter group that includes International Business Machines Corp., Airbus Group SE and JPMorgan Chase & Co.; and Ana Lopes, board member of the World Wide Web Foundation. Participants with blockchain industry ties include former deputy White House press secretary Jamie Smith, now chief global communications officer of BitFury Group Ltd., and Joseph Lubin, founder of startup Consensus Systems.

Blockchain Delegation Attends Democratic National Convention


Jamie Smith — The Bitfury Group & Blockchain Trust Accelerator
Tomicah Tillemann— New America Foundation & Blockchain Trust Accelerator
Alex Tapscott— co-author: Blockchain Revolution
Brian Forde — MIT, Digital Currency Initiative

Brian Forde

  • Was the founding director of the MIT Digital Currency Initiative -Left his 4 year post as White House Senior Advisor for Mobile and Data Innovation to go directly to the MIT DCI

  • Brian Forde has spent more than a decade at the nexus of technology, entrepreneurship, and public policy. He is currently the Director of Digital Currency at the MIT Media Lab where he leads efforts to mainstream digital currencies like Bitcoin through research, and incubation of high-impact applications of the emerging technology. Most recently he was the Senior Advisor for Mobile and Data Innovation at the White House where he spearheaded efforts to leverage emerging technologies to address the President’s most critical national priorities. Prior to his work at the White House, Brian founded one of the largest phone companies in Nicaragua after serving as a business and technology volunteer in the Peace Corps. In recognition of his work, Brian was named a Young Global Leader by the World Economic Forum and one of the ten most influential people in bitcoin and blockchain.

Alex Tapscott

World Economic Forum

  • Strategic Partners:

  • Includes Accenture (See Avinash Vashistha), Allianz, Deloitte (Scaling Bitcoin platinum sponsor, Blockstream Partner), Citigroup, Bain & Company (parent of Bain Capital, DCG investor), Dalian Wanda Group (working on blockchain technology), Ernst & Young (see Paul Brody), HSBC (Li-Ka Shing, Blockstream investor, used to be Deputy Chairman of HSBC), IBM, KPMG International, Mastercard (DCG Investor), PwC (Blockstream partner, also sponsor of Scaling Bitcoin)

  • [Future of Financial Services Report] ( [PDF] The word “blockchain” is mentioned once in this document, on page 23 ( We have identified three major challenge areas related to innovation in financial services that will require multi-stakeholder collaboration to be addressed effectively. We are launching a project stream related to each area, with the goal of enabling tangible impact.... Decentralised systems, such as the blockchain protocol, threaten to disintermediate almost every process in financial services

  • The Steering Group who authored the report is a who’s who of the global financial elite. (Pages 4 & 5)

Bitfury Washington DC Office

Washington DC Office
600 Pennsylvania Avenue
Suite 300
Washington, D.C. 20003

Bitfury Chosen for Ernst & Young Blockchain Startup Challenge

Deloitte Unveils Plan to Build Blockchain-Based Digital Bank

92% Upvoted
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level 1
23 points · 3 years ago

Damn, it's creepy as hell how many whitehouse and clinton connections there are...

level 1
Bitcoin Unlimited Developer22 points · 3 years ago

A very interesting read...thanks.

EDIT: I can't say I'm all that surprised but it certainly strikes home seeing it in black and white.

level 1
17 points · 3 years ago

If the ecosystem won't switch to BU after this, then it's official that humans are not ready for systems like bitcoin.

level 1
Bitcoin Enthusiast35 points · 3 years ago · edited 3 years ago

You could say that BitFury, BTCC, Blockstream and others are tools at the protocol level to control/shape Bitcoin and to enable DCG's empire of 2nd layer solutions. DCG has tremendous insider knowledge (product roadmap, deals) to act faster and outmaneuver other Bitcoin firms and VCs. Potentially destroying business models of firms that are not in DCG' portfolio.

level 2
-5 points · 3 years ago(More than 1 child)
level 1
4 points · 3 years ago

As an experiment you should see if this gets censored in the other place. Might give more light on who owns theymos.

level 1
15 points · 3 years ago

ACINQ is a subsidiary of the larger ACINQ Financial Services

This is a false claim. I (Ledger, CEO) personally know the founders and they have nothing to do with "ACINQ Financial Services".

level 2
Comment deleted by user3 years ago
level 1
3 points · 3 years ago

Oh this makes sense then. I had thought the miners supported core because they would make higher transaction fees. After seeing this, it's probably more nefarious.

Central planners such as the builderburgs and the Davos people whom the Clinton's are affiliated with and attend those meetings, they oppose technology like bitcoin because ultimately it removes control from them.

Very likely the goal is to derail bitcoin and crash the network with unconfirmed transaction backlogs, or implement a secret bug somehow to tank the system. Then they would use the fear that creates to try and eliminate / control further. They wouldn't probably succeed in the long-long run, but they could set things back for 1 generation in terms of derailing bitcoin and hindering adoption.

If you study how corrupt these people are, it's easy to understand they would be opposed to bitcoin. I always thought it was strange that the US gov. allowed bitcoin to be legal but it appears the 'powers that be' may have recognized the threat and are moving in on the ownership / control aspect of the miners and core team.

level 1
3 points · 3 years ago

Larry Summers and Glenn Hutchins are also both members of the Council On Foreign Relations and the Brookings Institute.

level 1
2 points · 3 years ago

wait, looks like hillary is on our side!

level 1
2 points · 3 years ago · edited 2 years ago

I'm a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads. (Info / ^Contact)

level 1
3 points · 3 years ago

Hey ydtm multiple accounts are against the rules.

level 2
2 points · 2 years ago

Tell that to the operators of the drangon den.

level 1
2 points · 3 years ago


level 2
9 points · 3 years ago

we're being infiltrated by old power

level 2
12 points · 3 years ago

trust no one

level 2
1 point · 3 years ago

Everyone is connected to Kevin Bacon through six degrees of separation.

level 2
1 point · 3 years ago

we are at the beginning of a new dawn.

level 2
-5 points · 3 years ago(More than 1 child)
level 1
4 points · 3 years ago

ACINQ is a subsidiary of the larger ACQINC Financial Services

any proof for that hilariously wrong claim other than both of them having a similar name ?

level 1
-7 points · 3 years ago(More than 2 children)
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Created May 20, 2011