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Wyoming bullishly courts crypto, even after collapse of FTX

KEYT

By MEAD GRUVER
Associated Press

CHEYENNE, Wyo. (AP) — For decades, Wyoming has sought to escape the boom-and-bust cycles of its fossil-fuel-driven economy. Now, many see hope in a new industry to smooth out those ups and downs: crypto. The recent fall of cryptocurrency exchange FTX hasn’t dissuaded the state’s “fintech” cheerleaders. Crypto is here to stay, they say, and the state that gets out front with the tech is one that will win. With a suite of new laws and regulations, Wyoming as positioned itself as arguably the friendliest state for crypto companies. The result: crypto banks, exchanges and businesses that build crypto mining rigs are setting up in the least-populated state.

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