The sudden collapse of the crypto exchange FTX last week was shocking. It’s arguably on par with Enron or Lehman Brothers in terms of the people it hurt, its cascading impact on the industry, and the regulatory changes it could spur.

To help draw timely lessons, Jeremy Allaire sat down with Angie Lau, a veteran journalist who is Editor-in-Chief, CEO, and Founder of Forkast.News, is a media outlet that covers emerging technology at the intersection of business, economy, and politics. While there’s much we’re still learning about FTX, Angie and Jeremy identified several insights:

Great companies are built on more than talent and technology. They must have rigorous financial, security, operational, and compliance controls to mitigate risks.
This is best understood as a crisis of confidence, not a crisis of technology.
Lack of regulatory standards has aided the rise of unregulated, and often off-shore, centralized financial institutions built on excess. We need to flush this out.
Many crypto firms have forgotten what it is they’re trying to do. We must move away from the speculative value phase to the utility value phase.
Boring is the new sexy.

*Circle has invested in the media company Angie Lau founded, Forkast.News. Circle also paid a fee for Angie to speak at its inaugural ecosystem summit, Converge22.

Angie and Jeremy cover:

👉 [00:00:55] The initial shock over FTX’s collapse

👉 [00:04:22] Lack of market conduct rules for offshore players

👉 [00:09:24] The underlying purpose of blockchain technology

👉 [00:11:30] How do we build the future on-chain

👉 [00:19:30] Why USDC is safe

👉 [00:26:45] The need for robust, transparent controls

👉 [00:30:30] The shift toward self custody

If you’re interested in learning about what’s next for the crypto ecosystem after the FTX collapse, tune in to this episode of The Money Movement!

Subscribe here:

👉 YouTube: https://bit.ly/3lUcJFN

👉 Apple: https://apple.co/3G3CrPZ

👉 Spotify: https://spoti.fi/3lUd6jF

👉 Email: https://bit.ly/3aXWYY5

And connect with Angie here:

👉 Twitter: https://twitter.com/AngieTVLau

👉 LinkedIn: https://www.linkedin.com/in/angielau

👉 Website: https://forkast.news

About the show

The global economy is experiencing unprecedented challenges and change. Business leaders everywhere are grappling with how to transform their companies to become more digital, resilient, and efficient. As we face this change, a new global movement is building around the promise of digital currencies and blockchains — forming a new architecture for the global economy and creating new opportunities for companies everywhere. The

Money Movement explores the issues, ideas, and icons driving this transformation in how we spend, send, save, and store value.

The Money Movement is brought to you by Circle. Our mission is to raise global economic prosperity through the frictionless exchange of value. Learn more about Circle Business Accounts and Platform APIs at circle.com.

The Money Movement with Jeremy Allaire is handcrafted by our friends over at: fame.so

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