@AlgodTrading Crypto will be part of the future. But unregulated centralized exchanges will not. We've been there before with unregulated financial institutions (1930-1931) and investments gone bad after a market crash. Sad to see history repeating itself. https://t.co/73VzQolGFX
A must-read for those who don't understand the difference between centralized (CEX) and decentralized (DEX) exchanges. This is the reason why crypto will be a part of the future but unregulated CEX will not. #FTX#crypto#DeFi#FTXbankruptcy
@BlockFi Sad that @BlockFi is going through these challenging times. From the beginning, I've always thought they've tried to do things the right way. While I believe unregulated CEX will not be part of the future, I hope they can survive and contribute to a stronger crypto industry.
@AnthonyLeeZhang Putting all eggs in one basket (e.g. FTX) when uninsured is a bad idea. Diversification of risks goes well beyond diversification of assets, especially in crypto. Using one exchange, one wallet, one stablecoin, etc. are all bad ideas imho.
@AlgodTrading Crypto will be part of the future. But unregulated centralized exchanges will not. We've been there before with unregulated financial institutions (1930-1931) and investments gone bad after a market crash. Sad to see history repeating itself. https://t.co/73VzQolGFX
Unbelievable. Feeling sorry for all the people affected. No wonder regulators see the crypto space with such distrusting eyes. I would too if I didn't know better. #FTX#SBF#FTT#cryptocrash https://t.co/PvnUqBsPV3
@AlgodTrading Crypto will be part of the future. But unregulated centralized exchanges will not. We've been there before with unregulated financial institutions (1930-1931) and investments gone bad after a market crash. Sad to see history repeating itself. https://t.co/73VzQolGFX
@AlgodTrading Crypto will be part of the future. But unregulated centralized exchanges will not. We've been there before with unregulated financial institutions (1930-1931) and investments gone bad after a market crash. Sad to see history repeating itself. https://t.co/73VzQolGFX
@AlgodTrading Crypto will be part of the future. But unregulated centralized exchanges will not. We've been there before with unregulated financial institutions (1930-1931) and investments gone bad after a market crash. Sad to see history repeating itself. https://t.co/73VzQolGFX
Two big lessons:
1: Never use a token you created as collateral.
2: Don’t borrow if you run a crypto business. Don't use capital "efficiently". Have a large reserve.
Binance has never used BNB for collateral, and we have never taken on debt.
Stay #SAFU.🙏
A🧵on CBDCs and Stablecoins (1/x)
As much as many would love for crypto to become a mainstream financial platform, transitioning into such a world is difficult. With many overlapping areas of CeFi and DeFi and many differences between the two, they are not natively compatible.
@ReidTymcio@MTorgin@AnthonyLeeZhang I guess we should also consider the fees collected by the AMM and how large they'd need to be to compensate for IL in the case of prices returning to their initial value. I imagine that the formula for a "break-even" fee isn't that straightforward.