Revisiting Financial Structures Post-Crisis

This chapter explores the historical and legislative aftermath of the 2008 financial crisis, particularly focusing on the Dodd-Frank Act and collateral deposit requirements. It highlights significant market events, including the GameStop trading frenzy, that exposed outdated financial infrastructures and advocates for a transition to instantaneous trading to mitigate systemic risks.

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Episode notes

In this discussion I moderated for Paxos, Robinhood CEO Vlad Tenev and Paxos CEO Charles Cascarilla discuss GameStop, the broken traditional financial infrastructure, and how blockchain technology may change the future of settlements. Show highlights:

why Robinhood stopped trading on GameStop and AMC stock earlier this year
what both Charles and Vlad think the feasibility of T+0 settlements versus Citadel’s and the DTCC’s aim of T+1 settlements
how the GameStop scenario would have been different in a T+0 environment
what it would look like if certain markets used T+0 settlements while others still settled on T+1
why Robinhood decided to add crypto back in early 2018
how Robinhood’s crypto operations work on the back end
why Robinhood does not allow users to move crypto off-platform
whether securities trading or crypto will be a larger portion of both Paxos’ and Robinhood’s business model
what Paxos and Robinhood have planned for the near future

Thank you to our sponsors!

E&Y: https://ey.com/globalblockchainsummit

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Kyber Network: Dmm.exchange

Episode Links:

People:

Charles Cascarilla

https://www.linkedin.com/in/charlescascarilla/

Coindesk Profile

https://www.coindesk.com/charles-cascarilla-most-influential-2020

Previous interview with Laura

https://unchainedpodcast.com/chad-cascarilla-on-paxoss-partnership-with-paypal/