Dear Crypto Derivatives Industry, Let’s Not Repeat 2008
As the crypto derivatives industry begins to take off, it needs to avoid the lack of transparency that plagued the industry in the 2000s, when the financial system collapsed.
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Bitcoin was introduced to the world in 2008, and so far, it has captured the imagination of millions of crypto enthusiasts globally. From 1 cryptocurrency in 2008 to over 10,000 in 2021, the cryptocurrency industry has come a long way. Back in 2010, Bitcoin’s market cap was a meager $170,000, and today, it stands at […]
For years, the cryptocurrency industry has had a complicated relationship with regulators. An example of regulatory pushback within the crypto space was when Facebook-backed Diem tried to launch its stablecoin. Regulatory limitations have undoubtedly had an impact on derivative brokers and exchanges. Just recently, Binance, one of the biggest exchanges, was forced to shut down crypto derivatives in several countries, including Germany, Italy, and Hong Kong. Since this announcement, derivatives traders have been on edge about what this means for the derivatives market and, most importantly,....