Bell Curve
What’s Wrong with Crypto Custody & How to Fix It | Live From DAS
Mar 27, 2025
Pascal Gauthier, CEO of Ledger and a pioneer in crypto security, dives into the crucial issues surrounding crypto custody. He discusses the shift from self-custody to institutional control, raising concerns about privacy and security. Gauthier emphasizes the need for a regulatory balance that protects innovation while safeguarding individual rights. He also tackles the tension between privacy and government surveillance in financial transactions, arguing for the importance of maintaining privacy in the evolving digital economy.
21:42
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Quick takeaways
- The balance between decentralization and institutional custody is crucial, highlighting the need for secure self-management alongside regulatory compliance.
- Privacy is identified as a vital concern in digital finance, with technology like zero-knowledge proofs offering potential solutions to protect individual information.
Deep dives
The Evolution of Custody in Crypto
The podcast discusses the historical shift from self-custody to institutional custody in the cryptocurrency space. Initially, the mantra 'not your keys, not your coins' emphasized the importance of individuals securely holding their assets. However, as institutional investments grow, there are differing regulatory and compliance needs that suggest a necessity for a balance between self-custody and institutional security. The narrative underlines how, despite the growing trend of institutions relying on platforms like Coinbase, the potential risks of centralized custody remain, including financial failure or hacking incidents.
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