VC private vs public markets in crypto

The idea of creating a crypto exchange was at once obvious and implausible. Obvious because the crypto exchanges were money machines. They were the casinos that sat in the middle of a world-historic speculative frenzy and charged fees for every bet that was placed. The founders of the world’s half-dozen or so biggest crypto exchanges were all likel

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In their willingness to court the wrath of US financial regulators, the crypto exchanges fell into one of at least four categories. A small group of tiny US exchanges listed only bitcoin and ether, the two oldest coins, blessed by the SEC as commodities and openly regulated by the CFTC. (A bit oddly, the older the coin, the more people thought of i

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