I think it'll probably have on the one hand, I think it will happen faster because of this FDX thing. The people who were starting to introduce legislation in Congress and the Senate were backed by Sam Backman Freed in their latest elections. So they might be a little nervous now. Some of them floated the regulatory model that him and his money were trying to ram through Congress and it was not good. It was more along the lines of let's take the old regulations and throw them at the new tech.
How do we get better crypto exchanges and custodians, both in terms of being more responsible and more regulated?
Coming out of the FTX debacle, the media spotlight is highlighting the cracks and flaws in the current system. While the crypto industry is doubling down on ways to make key management and self-custody a lot easier with ideas like social backups, a revamp of the exchange industry is needed in order for major sources of wealth to stake their claims in the marketplace.
Enjoy the conclusion of James' conversation with the "explainer-in-chief of crypto" Omid Malekan!
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