Is crypto straying from its purpose? Read what ShapeShift CEO ErikVoorhees and Custodia Bank CEO Caitlin Long (caitlinlong_) had to say on the topic during Consensys2023:
Erik Voorhees and Caitlin Long discuss FTX’s abandonment of crypto first principles, and the ensuing regulatory response.
The executive sat down with private investor and ShapeShift CEO Erik Voorhees at Consensus 2023 to discuss the many ways in which crypto has lost its way, and how it can still help remedy the problems that centralized mismanagement has caused.During a Thursday Panel titled, “Remember Why We’re Here: Crypto’s True Purpose”, Voorhees and Long both said they were first driven into crypto after being disenchanted by the great financial crisis and learning the failures of the current monetary system.
“I lament that the United States is throwing out the entire reasonable regulation approach out with the bathwater, because they’re literally shoving everything offshore and into the unregulated shadow markets, and rejecting those trying to create a reasonable regulatory regime.” “It seems that they are deliberately saying ‘stay the fuck away’… by those of us who did approach them for permission,” she said.the Federal Reserve in June 2022 for improperly handling its decision to grant the company a master account with the central bank.Voorhees believes there’s a solution to future scammers – but it doesn’t need to involve more regulation.
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