Erik Voorhees Breaks Down SBF's Dealbook Speech
Supply Shock
00:00
Is This a Catalyst for the Cryptocurrency Industry?
To take an illiquid coin like that to that scale and accept it as collateral is just horribly dumb, grossly negligent. If they had taken any other small cap crypto for that kind of collateral, that would have been equally stupid. I think each time this kind of thing happens, those who are in the industry move a little more toward openness towards self custody. But as we grow and as we get into the next bull cycle, we're going to get tens of millions of new people that didn't learn this lesson,. They're going to make all these same mistakes.
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