Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.
This week, I grapple with the concepts of financial centralization and decentralization, anchoring around custody, staking, and DeFi examples. On the centralized side, we look at BitGo's acquisition of Lumina, Coinbase Custody and its similarity to Schwab and Betterment Institutional. On the decentralized side, we examine the recent $500 million increase in value within the Compound protocol, as well as the recursive loops that could pose a broader financial risk to the ecosystem.
Coinbase has raised $100 million in a Series D funding round led by IVP; firm has exchanged over $25 billion of digital currency and plans to use the funding for expanding its business operations; the company currently has three main products: Coinbase for retail digital currency trading, GDAX for institutional and professional digital currency trading, and Toshi a browser for the Ethereum network. Source
In this conversation, we have a really cool conversation on fintech, crypto assets, payments and all the things around it with Ivan Soto-Wright, the CEO and Co-founder of MoonPay.
More specifically, we discuss Liability-driven Investment (LDI), the proliferation of AI in personal finance to drive sound decision-making, innovation in finance is following the same trajectory that resulted in VOIP for the telecommunication industry, the geographical maze of crypto KYC, payment networks, and crypto payment processing.