Big Firms Want Normal Crypto Markets
Also corporate discount rates, AT1 markets, sesame allergies and Masayoshi-Son-flattering chatbots.
I think even a year ago it was possible to imagine the traditional financial system learning something from crypto. Crypto built its own financial system that does things differently from traditional finance. For instance:
And, you know, I guess it is still possible to imagine traditional finance adopting these (or other) ideas from crypto. It is harder though. A year ago it seemed like FTX’s plan was to expand out from crypto, to prove that its approach was better than that of traditional exchanges, to take over the trading of stocks and commodities and whatever, to bring the structure of crypto finance to the assets of traditional finance. Not anymore, man! The odds of a crypto exchange taking a lot of market share in US stock trading anytime soon are really, really low.