3min chapter

Odd Lots cover image

Sam Bankman-Fried and Matt Levine on How the Crypto Market Really Works

Odd Lots

CHAPTER

Is Your Problem Customer Losses Not Your Problem?

There have been some exchanges blow out in crypto, and especially the smaller ones. One of the most dangerous things about using a dinky exchange is that they probably don't have like, very sophisticated tac so, like, the hacking risk is way higher. The answer to your question is really, ya, that you have a lot of capital backingit. And then on top of that, there's effectively the equity value which should be implicitly backed by these exchanges.

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