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Most Influential 2021: Kristin Smith

The Blockchain Association’s executive director is one of crypto’s staunchest advocates on the Hill.

Updated May 11, 2023, 6:26 p.m. Published Dec 10, 2021, 8:17 p.m.
(Adam Levine/CoinDesk)

This year, crypto emerged as a political force, with many Washington-based lobbyists fomenting the charge. Executive director of the Blockchain Association, Kristin Smith, a former congressional staffer and familiar face on the Hill, has been the voice for much of this change-making. Her work sometimes happens behind closed doors – educating senators and helping craft policy – though her most influential acts come in representing the cryptocurrency industry through countless op-eds, speaking engagements and a professional online presence.

Going deeper: “We have a choice: Continue to nurture the nascent crypto industry in this country or let the demons of our partisan political system hamper the next wave of cutting-edge financial technology,” Smith wrote in a CoinDesk op-ed.

The Complete List: CoinDesk’s Most Influential 2021

(Kevin Ross/CoinDesk)
(Kevin Ross/CoinDesk)

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Pudgy Penguins: A New Blueprint for Tokenized Culture

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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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SEC clarifies rules for tokenized stocks, tightening scrutiny on synthetic equity

SEC headquarters (Nikhilesh De/CoinDesk)

The agency says issuer approval is required for true tokenized ownership, warning that many stock tokens sold to retail investors provide only indirect or synthetic exposure.

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  • The Securities and Exchange Commission issued new guidance clarifying that tokenized stocks are subject to existing securities and derivatives rules, regardless of whether they are recorded on a blockchain.
  • The agency drew a sharp line between issuer-sponsored tokenized securities, which can represent true equity ownership, and third-party products that typically provide only synthetic exposure or custodial entitlements.
  • Regulators signaled they aim to curb the spread of synthetic equity products to retail investors while encouraging issuer-approved, fully regulated tokenization structures.