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The Chopping Block: Arthur Hayes on Why Crypto Needs to Ditch the Banks - Ep. 466
Unchained
Do You Need to Drop the Fucking Client?
The second order products are like completely very hard to control. And I think that's the part the US government is probably gonna have to grapple with after this little big thing. Because they implicitly have these dollars seeing a bank account that are backing margin accounts on chain or at particular exchanges. Silvergate actually sort of is holding some risk to those in the cases that those entities don't, aren't either all the drawing at the same time or redeeming.
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