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Why Crypto Isn’t Just the Great Financial Crisis, Part 2

The Breakdown

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The Right Lessons, Not the Wrong Ones

Risk taking investors will continue to lose money from rug poles and code breeches. But this hurly burley is quite different from the systemic problems that beset the financial system in the two thousand eight crisis. The constant threat of failure means there's an incentive for developers to come up with more trustworthy offerings, which is why, despite the horror stories, the system his steadily become more robust over time. This is not to say that centralized service providers in the space shouldn't be held accountable to laws that preserve financial stability and protect consumers. As a range of competing proposals for regulating stable coins defi and the broad crypto industry do battle in washington, it does mean that we should heed

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