FTX's collapse was exacerbated by centralization; FTX being a decentralized exchange, based on smart contracts, could have prevented SBF draining customer funds
WSJ making the case regulation isn't yet strong enough to prevent financial custodians from stealing your money. We need to fix that, because Americans should not have to manage wealth via private keys, which is inherently dangerous financially and physically. https://twitter.com…
The failure of FTX was due to its centralized design. A catch-all regulatory response is ironic, since DEXs are coded to PREVENT outcomes like FTX from happening. Read on for this hot take from our CEO @MarkLurie on @WSJopinion 👇 https://www.wsj.com/...
Yes, yes and yes! An op-ed all US policy makers should read - and understand - before potentially over-reacting to an under-regulated centralized finance event. DeFi is different. Centralization Caused the FTX Fiasco by @VivekGRamaswamy and @MarkLurie https://www.wsj.com/...
From @WSJopinion: Centralized crypto intermediaries have lost more customer money than decentralized protocols have. Users are starting to vote with their feet, write @VivekGRamaswamy and @MarkLurie. https://www.wsj.com/...
#XRPCommunity #XRP “A one-size-fits-all regulatory approach has the effect of making decentralized exchanges less competitive with centralized ones such as FTX and thereby heightening the risk of fraud against customers.” https://www.wsj.com/...
The FTX debacle teaches an obvious lesson: when captains of industry call for greater regulation of their own companies, scrutinize their motives & run in the other direction. My latest piece in tomorrow's @WSJopinion with @MarkLurie. https://www.wsj.com/...
Whenever captains of industry call for greater regulation of their own business, consumers should scrutinize their motives, write @VivekGRamaswamy and @MarkLurie https://www.wsj.com/...