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After FTX's Collapse, Can Crypto Survive Without a Savior? | Coinage Episode 4
22 de nov. de 2022 ·
26m 38s
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Descripción
The crypto industry is one that was built around Bitcoin — an alternative form of money founded to refute the failures of the traditional financial system. In fact, Bitcoin’s genesis...
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The crypto industry is one that was built around Bitcoin — an alternative form of money founded to refute the failures of the traditional financial system.
In fact, Bitcoin’s genesis block includes the text of the New York Times headline seen as the precipice of the bailout era: “Chancellor on Brink of Second Bailout for Banks.” It’s as if Bitcoin’s founder was speaking directly to the old banking system to say, “We see your transgressions, and we are coming for you.”
The irony, therefore, that crypto itself could come to repeat the very same mistakes the old system committed in the 2008 financial crisis is not lost on us. But how did we get here? And, can crypto survive without a savior?
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In fact, Bitcoin’s genesis block includes the text of the New York Times headline seen as the precipice of the bailout era: “Chancellor on Brink of Second Bailout for Banks.” It’s as if Bitcoin’s founder was speaking directly to the old banking system to say, “We see your transgressions, and we are coming for you.”
The irony, therefore, that crypto itself could come to repeat the very same mistakes the old system committed in the 2008 financial crisis is not lost on us. But how did we get here? And, can crypto survive without a savior?
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