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Your Guide to the Bull Run | Raoul Pal
Bankless
Historical Insights on Financial Markets and the Crypto Landscape
4min Snip
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The US missed out on the development of major financial markets like LIBOR and the swaps market due to stringent regulations, leading to the UK becoming a financial hub. The UK sees an opportunity in regulating the crypto market to become a significant player once again. While the US has historically been a laggard in financial changes, it has been a first mover in technology like the internet. However, monopolistic powers like Google struggle to innovate due to the fear of disrupting their own business model, similar to the US hesitance to embrace changes in the global monetary system. The US tends to favor domestic players like Coinbase over foreign competitors like Binance, leading to a separation akin to the Chinese-US tech divide. The introduction of ETFs is seen as a way to keep money within the traditional financial system, but it may serve as a gateway for individuals to venture into the world of cryptocurrencies.
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