Solana fell from a proof-of-stake leader to an unstable, frequently offline chain that has been the target of high-stakes, high-profile hacks.
central bank / CBDCCryptodecentralized financeopen sourcephilosophyregulation & compliancestablecoins
·This week, we look at:
Proposed US regulation from FinCEN, legislation from the House of Representatives, and UK FCA registration requirements that would impact the crypto industry
The difference between competition for share within an established market, and competition between market paradigms (think MSFT vs. open source, finance vs. DeFi)
The crypto custodian moves from BBVA, Standard Charters, and Northern Trust
The bank license moves from Paxos and BitPay, as well as the planned launch of a new chain by Compound, in the context of the framework above
Permissionless finance is a paradigm breach. It pays no regard for the very nature of the incumbent financial market. Without banking, it creates its own banks. Without a sovereign, it bestows law on mathematics and consensus. Without broker/dealers, it creates decentralized robots. And so on. It tilts the world in such a way as to render the economic power of the incumbent financial market less important. Not powerless -- the allure of institutional capital is a constant glimmer of greedy, opportunistic hope. But the hierarchy of traditional finance does not extend to DeFi, and thus has to be re-battled for the incumbent. This is cost, and annoying.
In this conversation, we chat with Sandeep Nailwal – The Co-Founder & COO at Polygon (previously Matic Network). Sandeep is a long time developer who’s been dabbling in the space since way back in his college days. Originally known as the Matic Network, Polygon rebranded with the aim to reach a global audience and they’ve certainly done just that.
More specifically, we touch on Sandeep’s intriguing entrepreneurial journey, developing a blockchain startup in India, DApps, Scalability & Interoperability of Layer1 and Layer2 blockchain solutions, Zero-knowledge Rollups, NFTs & Gaming, and so much more!
Sam Bankman-Fried claimed ignorance on many topics while answering questions via video call to the New York Times Dealbook Summit.
The correlation between stocks and crypto has increased over time as more institutional investors have invested in crypto.
For incumbents, changing existing financial infrastructure systems is like taking the engine out of the plane in mid-air.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
Millions of eager investors are looking for ways to earn. Soon, an auto investing startup has an answer using cash flow to invest.
Gov. DeSantis has said that Florida won't accept a CBDC, due to privacy and surveillance concerns. Stonewalling could be part of the problem.
Private digital currencies' global reach makes policy responses challenging, but emerging markets do not lack choices.