Raoul Pal: The Journey Man

SoFi Co-Founder: Bet on Crypto or Get Left Behind ft. Mike Cagney

26 snips
Feb 20, 2025
Mike Cagney, co-founder and CEO of Figure Markets, discusses how blockchain is set to transform capital markets and democratize finance. He shares insights on eliminating intermediaries for real-time transactions and enhancing liquidity through innovative models like 'democratized prime brokerage.' Cagney also touches on the regulatory landscape affecting cryptocurrency and the importance of adapting investment strategies in a shifting environment. His visionary approach seeks to merge traditional finance with the latest blockchain advancements.
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ANECDOTE

Cagney's Inspiration

  • Mike Cagney, while building a hedge fund, observed Chris Larsen's work at Prosper.
  • Prosper was the first peer-to-peer lender, a concept that fascinated Cagney.
ANECDOTE

SoFi's Beginnings

  • After the 2008 financial crisis, Cagney co-founded SoFi, a student loan refinancing business.
  • Chris Larsen advised against the idea, but it proved successful.
INSIGHT

Blockchain's Disruptive Potential

  • Cagney realized blockchain's potential to transform capital markets by replacing trust with truth.
  • He saw the opportunity to disintermediate traditional finance with blockchain's bilateral transactions.
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