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The Paradoxes of Coinbase
Regulations protect crypto businesses too. Coinbase worked proactively with regulators when rules were unclear. They signed up millions of users before regulations arrived. This let them spread the costs of compliance over many users bringing down marginal costs. If you want to take away their customers now, you’ll have to cough up a few million... See more
Varun Srinivasan • Crypto Moats
By the middle of 2021, Sam saw that he could not sweet-talk regulators and at the same time have CZ as a big investor. If you wanted to be the teacher’s pet, you couldn’t sit in the back of the classroom with the badass in the leather jacket. The first thing every regulator asked for was a list of your investors, and personal details about them.
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
The venture capitalists could see how fast FTX was growing—that they were wildcatters sitting on a gusher—but were unsure if what they were seeing was closer to the last gallon of oil than the first. Was it just a big trade that would go away with the crypto craze, or was Sam building something enduring? If the latter, he’d need access to American
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
