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The Paradoxes of Coinbase
However, a hard fork would run counter to what many in the Bitcoin and Ethereum communities felt was the power of a decentralized ledger. Forcefully removing funds from an account violated the concept of immutability. This was exacerbated by the fact that a centralized set of players was making the decision. Many complained of moral hazard, and tha
... See moreChris Burniske • Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond
Which is why, when Sam took in the situation, he decided that Binance’s strategy was unsustainable. That the smart thing to do was to be the world’s most law-abiding and regulator-loving exchange. FTX could use the law, and the regulators, to drive crypto trading from Binance and onto FTX. If countries did not…
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
Regulations protect crypto businesses too. Coinbase worked proactively with regulators when rules were unclear. They signed up millions of users before regulations arrived. This let them spread the costs of compliance over many users bringing down marginal costs. If you want to take away their customers now, you’ll have to cough up a few million do... See more
Varun Srinivasan • Crypto Moats
Binance’s customers traded various cryptocurrencies but generally weren’t borrowing money from the exchange to do it. CZ preferred it that way. And he was a bit wary of what Sam was proposing: an…
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