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How Cryptocurrency Revolutionized the White Supremacist Movement


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White supremacists embraced cryptocurrency early in its development, and in some cases produced million-dollar profits through the technology, reshaping the racist right in radical ways, a Hatewatch

 

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White supremacists embraced cryptocurrency early in its development, and in some cases produced million-dollar profits through the technology, reshaping the racist right in radical ways, a Hatewatch analysis found.

 

Hatewatch identified and compiled over 600 cryptocurrency addresses associated with white supremacists and other prominent far-right extremists for this essay and then probed their transaction histories through blockchain analysis software. What we found is striking: White supremacists such as Greg Johnson of Counter-Currents, race pseudoscience pundit Stefan Molyneux, Andrew “Weev” Auernheimer and Andrew Anglin of the Daily Stormer, and Don Black of the racist forum Stormfront, all bought into Bitcoin early in its history and turned a substantial profit from it. The estimated tens of millions of dollars’ worth of value extreme far-right figures generated represents a sum that would almost certainly be unavailable to them without cryptocurrency, and it gave them a chance to live comfortable lives while promoting hate and authoritarianism.

 

 

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