Ep 73 | Crypto’s Future After FTX, with Angie Lau of Forkast.News
The Money Movement with Jeremy Allaire | Leaders in Blockchain, Crypto, DeFi & Financial Inclusion - En podcast af Circle
The sudden collapse of crypto exchange FTX last week was shocking. It’s arguably on par with Enron or Lehman Brothers in terms of the people it hurt, its cascading impact on the industry and the regulatory changes it could spur. To help draw timely lessons, Jeremy Allaire sat down with Angie Lau, a veteran journalist who is Editor-in-Chief, CEO, and Founder of Forkast.News, a media outlet that covers emerging technology at the intersection of business, economy, and politics. While there’s much we’re still learning about FTX, Angie and Jeremy identified several insights: Great companies are built on more than talent and technology. They must have rigorous financial, security, operational, and compliance controls to mitigate risks. This is best understood as a crisis of confidence, not a crisis of technology. Lack of regulatory standards has aided the rise of unregulated, and often off-shore, centralized financial institutions built on excess. We need to flush this out. Many crypto firms have forgotten what it is they’re trying to do. We must move away from the speculative value phase to the utility value phase. Boring is the new sexy. *Circle has invested in the media company Angie Lau founded, Forkast.News. Circle also paid a fee for Angie to speak at its inaugural ecosystem summit, Converge22.
