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Jake Chervinsky, general counsel at Compound, goes over a plethora of crypto regulatory issues, such as those related to securities law such as the SEC vs. Kik case, Ripple, stablecoins, no-action letters, Blockstack and more. We also discuss whether there should be one regulator for crypto matters in the US, whether it makes sense to create a new category for digital assets instead of applying laws for securities, commodities, etc., to digital tokens, and why he thinks Libra will likely not launch in its proposed form. He also gives his odds on a Bitcoin ETF being approved soon, talks about the tension between privacy and financial regulation and reveals what he thinks is the biggest regulatory issue in DeFi that no one's talking about.
Thank you to our sponsors!
Crypto.com: https://www.crypto.com/
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Jake Chervinsky: https://twitter.com/jchervinsky
Compound: https://compound.finance/
Unchained interview with Compound CEO Robert Leshner: https://unchainedpodcast.com/how-youll-earn-interest-on-your-crypto-with-compound-ep-82/
Unchained with Ted Livingston of Kik about its intention to fight the SEC in court: https://unchainedpodcast.com/kin-sets-up-5-million-defendcrypto-org-to-take-on-the-sec/
Kik's Wells response: https://www.kin.org/wells_response.pdf
SEC no-action letter to Quarters: https://www.coindesk.com/sec-clears-blockchain-gaming-startup-to-sell-quarters-tokens
SEC Commissioner Hester Peirce on the first no-action letter for a token: https://www.sec.gov/news/speech/peirce-how-we-howey-050919
Unconfirmed episode on Blockstack’s Reg A+ filing: https://unchainedpodcast.com/blockstacks-reg-a-filing-and-the-future-of-token-offerings%e2%80%8b/
Decrypt article on issues with issuing a token under Reg A+: https://decrypt.co/7839/blockstack-token-offering-historic-but-dance-with-sec-far-from-over
How much Ripple has sold recently: https://twitter.com/lawmaster/status/1154276254775947264?s=20
Jake’s tweet storm on the Libra hearings in Congress: https://twitter.com/jchervinsky/status/1151875713903005697?s=20
Jeremy Allaire’s testimony to Congress: https://www.banking.senate.gov/imo/media/doc/Allaire%20Testimony%207-30-19.pdf
Unchained interview with Jeremy Allaire on regulations: https://unchainedpodcast.com/jeremy-allaire-on-why-the-us-government-needs-a-new-category-for-digital-assets/
Push for new crypto regulations: https://www.wsj.com/articles/lawmakers-push-for-new-bitcoin-rules-11562405401
Tax issues: https://fortune.com/2019/07/29/here-comes-the-irs-the-ledger/
Bitcoin ETF: https://twitter.com/jchervinsky/status/1111734963798458369?s=20
Jake’s tweet storm on Bakkt: https://twitter.com/jchervinsky/status/1059828623471972354?fbclid=IwAR259I8Q2NSNmQ_PEb6l__XatWhmqj9U8gocHRoeb-JXizviI9T62rMuQC8
The latest on Bakkt: https://www.coindesk.com/bakkt-is-supposed-to-start-testing-its-bitcoin-futures-contracts-today
Sanctions coming to crypto: https://www.coindesk.com/get-ready-for-crypto-sanctions-enforcement
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Juthica Chou, chief operating officer of LedgerX, talks about the company's new license to offer its derivatives to retail investors and the resulting platform, Omni. She walks through what call and put options are, how they work and why people and companies purchase them as opposed to just buying or selling bitcoin directly. We discuss why LedgerX believes physically settled bitcoin options are superior to cash-settled ones, how LedgerX handles hard forks, and other contracts focused on the technicals of crypto networks it could offer such as its halving contract. Plus, she describes what it was like to be building a Bitcoin-centered company during the "blockchain not Bitcoin" era.
Sign up for the Virtues of the Crypto Revolution retreat with me, Meltem Demirors of CoinShares and Jalak Jobanputra of Future Perfect Ventures at Omega Institute!!
Thank you to our sponsors!
Crypto.com: https://www.crypto.com/
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
LedgerX: https://www.ledgerx.com
Juthica Chou: https://twitter.com/juthica
LedgerX blog posts introducing Omni: https://blog.ledgerx.com/the-long-game/
https://blog.ledgerx.com/introducing-omni-powered-by-ledgerx/
https://www.coindesk.com/cftc-approves-ledgerx-to-settle-futures-in-real-bitcoin
https://www.coindesk.com/ledgerx-reveals-bid-to-beat-bakkt-to-physical-bitcoin-futures-launch
CNBC interview with Ari Paul about why he bought $50,000 Bitcoin call option: https://www.cnbc.com/video/2017/12/26/man-behind-massive-bet-that-bitcoin-could-hit-50000.html
Cheddar interview: more opportunity with the retail market:
https://cheddar.com/media/ledgerx-wins-u-s-regulatory-approval-to-trade-bitcoin-futures
Bitcoin halving contract: https://blog.ledgerx.com/a-new-type-of-contract-for-a-new-type-of-asset/
https://www.coindesk.com/ledgerx-unveils-betting-market-for-2020s-bitcoin-block-reward-halving
Ledger on how to it would handle the Bitcoin Gold hard fork: https://www.ledgerx.com/s/LedgerX-LLC-Notice-to-Participants-2017-10.pdf
Call option for $100k Bitcoin by December 2020: https://www.bloomberg.com/news/articles/2019-07-16/anybody-can-now-bet-on-bitcoin-100-000-with-new-call-options
Unchained interview with Dan Morehead of Pantera Capital: https://unchainedpodcast.com/pantera-capital-how-bitcoin-could-reach-356000-in-a-few-years/
Cboe stops listing Bitcoin fuures:
https://www.coindesk.com/cboe-puts-brakes-on-bitcoin-futures-listing
https://www.wsj.com/articles/cboe-abandons-bitcoin-futures-11552914001
Why CME’s futures saw more volume than Cboe’s: https://www.coindesk.com/cme-cboe-bitcoin-futures
How Bitcoin futures will be taxed: https://blog.ledgerx.com/less-taxation-with-digitization/
Doomschain clock/attitude toward private blockchains: https://blog.ledgerx.com/updating-the-doomschain-clock/
Oracle blog post: https://blog.ledgerx.com/how-to-talk-to-the-oracle/
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Dan Morehead, founder and CEO of Pantera Capital, and Joey Krug, co-chief investment officer of Pantera and founder of Augur, discuss where we are in the development cycle of blockchain technology, how Bitcoin, if stays on past trend lines, could hit $42,000 by year's end and $356,000 a couple years after that, and why the biggest challenges now are around scaling and onboarding. We also cover what the adoption of the technology will mean long-term — how creating assets and markets will no longer be the realm of a privileged view — but why payments may be one of the last areas to be disrupted. Morehead and Krug also talk about how Libra walks the line between decentralized and centralized, and it's unclear how Libra will become decentralized. Plus, hear how they respond to questions about the SEC vs. Kik.
Sign up for the Virtues of the Crypto Revolution retreat with me, Meltem Demirors of CoinShares and Jalak Jobanputra of Future Perfect Ventures at Omega Institute!!
Thank you to our sponsors!
Crypto.com: https://www.crypto.com/
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Pantera Capital: https://www.panteracapital.com
Dan Morehead: https://twitter.com/dan_pantera
Joey Krug: https://twitter.com/joeykrug
Dan Morehead on Unconfirmed: https://unchainedpodcast.com/dan-morehead-of-pantera-capital-on-why-this-crypto-winter-is-different/
Unchained with Joey Krug: https://unchainedpodcast.com/joey-krug-on-how-augur-is-like-any-other-tool-ep-79/
A Crypto Thesis: https://medium.com/@PanteraCapital/a-crypto-thesis-47eaacf861ca
Unconfirmed about Congressional hearings on Libra: https://unchainedpodcast.com/why-the-congressional-hearings-on-facebooks-libra-were-good-for-bitcoin/
Unconfirmed about why it would be good if Libra rivaled the USD: https://unchainedpodcast.com/why-it-would-be-good-if-libra-rivaled-the-us-dollar/
Unconfirmed with Dante Disparte of the Libra Association: https://unchainedpodcast.com/libras-dante-disparte-on-why-we-should-trust-a-financial-system-designed-by-facebook/
Some crypto industry players fed up with US regulators: https://www.forbes.com/sites/laurashin/2019/05/29/crypto-companies-and-investors-fed-up-with-the-sec/#3f348ad7701c
The SEC vs. Kik: https://unchainedpodcast.com/kin-sets-up-5-million-defendcrypto-org-to-take-on-the-sec/
Bitcoin ETF: https://www.cryptoglobe.com/latest/2018/10/pantera-capital-ceo-sec-doesnt-want-widows-and-orphans-buying-bitcoin-etfs-i-think-an-etf-is-years-away/
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Rich Sanders, cofounder and chief security officer of CipherBlade, and Harry Denley, director of security of MyCrypto.com, discuss the phone porting phenomenon: who's behind these thefts, how they perpetrate them, who is targeted, how to recognize the signs you're a victim and how to the hackers are adapting to people protecting themselves. They cover how you can protect yourself, which accounts to protect, what kinds of email addresses and numbers to set up, how to set them up, how to separate them from anything valuable, and which two-factor authentication methods could work instead. Plus, they go over how to report a theft, to whom you should report, and what information to include.
Thank you to our sponsors!
Crypto.com: https://crypto.com
Kraken: https://kraken.com
CipherTrace: https://ciphertrace.com/unchained
Episode links:
MyCrypto: https://mycrypto.com/
https://twitter.com/MyCrypto
https://medium.com/mycrypto
CipherBlade: https://cipherblade.com
The SIM Swapping Bible: https://medium.com/mycrypto/what-to-do-when-sim-swapping-happens-to-you-1367f296ef4d
My Forbes story covering the phone hijacking phenomenon: https://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/#1964ddb738ba
Michael Terpin, awarded $75 million in case after losing $24 million in crypto: https://www.coindesk.com/crypto-investor-awarded-over-75-million-in-sim-swapping-hack-case
Cody Brown who lost $8,000 on Coinbase due to a phone hijacking: https://medium.com/@CodyBrown/how-to-lose-8k-worth-of-bitcoin-in-15-minutes-with-verizon-and-coinbase-com-ba75fb8d0bac
BitGo engineer losing his money via SIM porting: https://medium.com/coinmonks/the-most-expensive-lesson-of-my-life-details-of-sim-port-hack-35de11517124
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Gabriel Abed, founder of Bitt.com and Vice President of the board of directors, describes how he went from mining Bitcoin to persuading governors of central banks to not quash Bitt's goal to create central bank digital currencies in the Caribbean and getting the Eastern Caribbean Central Bank to pilot one starting next year. He tells the tale of how Overstock came to invest in Bitt, how he brought on a new CEO to take over the company he founded, and how he teamed up with Polymath to create a new company that became the single largest shareholder of the Barbados Stock Exchange. He also describes Digital Asset Capital Management, an investment firm he launched, and why he's still a Bitcoin maximalist despite working on and investing in other types of cryptocurrencies.
Virtues of the Crypto Revolution retreat with Meltem Demirors of CoinShares and Jalak Jobanputra of Future Perfect Ventures: https://www.eomega.org/workshops/virtues-of-the-crypto-revolution
Thank you to our sponsors!
Crypto.com: https://www.crypto.com
Kraken: https://www.kraken.com/
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Bitt.com: https://www.bitt.com/
Gabriel Abed: https://www.linkedin.com/in/gabrielabed/
mMoney in Barbados: https://www.mmoneybb.com/
Digital Asset Capital Management: https://dacm.io/
Overstock announces $4 million investment in Bitt.com, to total $16 million over time: https://bitcoinmagazine.com/articles/overstock-invests-in-bitt-to-launch-official-digital-currencies-in-the-caribbean-islands-1459961581
Second Overstock investment in Bitt.com of $3 million: https://www.coindesk.com/overstock-venture-arm-invests-3-million-in-blockchain-payments-startup
CoinDesk on the meaning of Bitt's work with the Barbadian digital dollar: https://www.coindesk.com/how-a-tiny-island-could-give-cryptocurrency-a-big-boost
Bitt’s pilot with Eastern Caribbean Central Bank:
https://www.coindesk.com/eastern-caribbean-central-bank-takes-step-toward-digital-currency-roll-out
Partnership with Centrale Bank van Curaçao en Sint Maarten (CBCS) to look into issuing a central bank-backed digital currency for Curaçao and Sint Maarten:
https://www.coindesk.com/bitt-partners-with-dutch-caribbean-islands-to-explore-central-bank-crypto
Bitt's identity work: https://www.coindesk.com/bitt-reveals-big-plans-blockchain-powered-caribbean-settlement-network
Crypto activity in Bermuda and the Caribbean:
https://www.nytimes.com/2018/07/29/technology/cryptocurrency-bermuda-malta-gibraltar.html
Bermuda's crypto regulatory framework:
https://finance.yahoo.com/news/why-bermuda-is-going-crypto-with-new-regulatory-framework-130512103.html
Unchained interview with CZ of Binance: https://unchainedpodcast.com/how-binance-became-the-most-popular-crypto-exchange-in-5-months-ep-84/
Unchained interview with Bitfury: https://unchainedpodcast.com/bitfury-on-the-ways-it-collaborates-with-governments-and-why-its-partnered-with-a-public-company/
Unchained interview with Sandra Ro: https://unchainedpodcast.com/what-is-one-of-the-worlds-largest-derivatives-exchanges-doing-with-bitcoin/
Unconfirmed interview with Dante Disparte: https://unchainedpodcast.com/libras-dante-disparte-on-why-we-should-trust-a-financial-system-designed-by-facebook/
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Luis Buenaventura, founder of Bloom Solutions, and Leo Weese, president of Bitcoin Association of Hong Kong, discuss the crypto scene in Asia — how it differs from that of the West, and how it differs within the region. We also cover the regulatory climate there, how Korean traders occasionally stuff their pockets with cash and hop flights to Hong Kong, and whether the Hong Kong protests have had any impact on interest in BItcoin. Leo and Luis also talk about Binance and what they think are the top crypto projects in the region. Plus, they reveal Asia's perception of Tron.
LAST WEEK to take the Unchained Podcast survey!
Help make Unchained better! Take our survey and enter the giveaway for a free Bitcoin lightning node and a yearlong Casa Gold membership, — including a multisig security app for iPhone and Android, a Trezor hardware wallet, a Casa faraday bag, and 24/7 support! https://www.surveymonkey.com/r/unchainedsurvey2019
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Luis Buenaventura: https://twitter.com/helloluis
Bloom: https://www.bloom.solutions/
Leo Weese: https://twitter.com/LeoAW
The Bitcoin Association of Hong Kong: https://www.bitcoin.org.hk/
On Twitter: https://twitter.com/bitcoinorghk?lang=en
Panel from the Oslo Freedom Forum, where I met Leo and Luis: https://unchainedpodcast.com/alex-gladstein-of-the-human-rights-foundation-on-the-3-reasons-bitcoin-matters/
Previous Asia scene episode: https://unchainedpodcast.com/asia-edition-mining-a-crypto-yuan-and-the-two-main-reasons-the-chinese-are-interested-in-crypto-ep-102/
Crypto Garage: https://cryptogarage.co.jp/en
Bitspark: https://www.bitspark.io
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In recent years, the Human Rights Foundation and Alex Gladstein, its chief strategy officer, have become forces in the Bitcoin and cryptocurrency community. In this episode, he discusses why Bitcoin is important for human rights, its three most important characteristics, and why Facebook's Libra project should be helpful to the adoption of the technology, at least in the short-term. He also describes how Bitcoin is just part of other movements that have become more open, such as governments shifting toward democracies and information becoming freer via the internet. He talks about how he thinks the technology can get wider adoption, why HRF supports the Open Money Initiative, and whether or not Bitcoin can help the North Korean people, rather than enriching its government, which has been the case so far.
Read the full show notes on Forbes: http://www.forbes.com/sites/laurashin/2019/06/25/how-bitcoin-can-help-in-the-fight-for-human-rights/
Take the Unchained Podcast survey!
Help make Unchained better! Take our survey and enter the giveaway for a free Bitcoin lightning node and a yearlong Casa Gold membership, — including a multisig security app for iPhone and Android, a Trezor hardware wallet, a Casa faraday bag, and 24/7 support! https://www.surveymonkey.com/r/unchainedsurvey2019
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
The Human Rights Foundation: https://hrf.org/
Alex Gladstein: https://twitter.com/gladstein
Last year's Unconfirmed episode with Alex: https://unchainedpodcast.com/alex-gladstein-of-the-human-rights-foundation-on-the-first-crypto-war-ep-021/
This year's panel discussion on finances and freedom from the Oslo Freedom Forum: https://unchainedpodcast.com/oslo-freedom-forum-2019-protecting-financial-freedoms-in-the-digital-age/
Alex's essay for Time on why Bitcoin matters for freedom: https://time.com/5486673/bitcoin-venezuela-authoritarian/
Alex's response to Bitcoin critics: https://medium.com/@alexgladstein/a-human-rights-activists-response-to-bitcoin-critics-d50e6760ee80
The Open Money Initiative: https://www.openmoneyinitiative.org/
https://www.coindesk.com/whats-holding-back-bitcoin-in-venezuela-this-group-is-investigating
How Bitcoin could help improve foreign aid: https://edition.cnn.com/2019/05/23/perspectives/bitcoin-foreign-aid/index.html
Unchained episode with Bill Tai:
https://unchainedpodcast.com/maitai-globals-bill-tai-on-why-blockchain-is-the-6th-wave-of-technology/
Eric Wall's posts on Bitcoin privacy and wallets: https://medium.com/human-rights-foundation-hrf/privacy-and-cryptocurrency-part-i-how-private-is-bitcoin-e3a4071f8fff
https://medium.com/human-rights-foundation-hrf/privacy-and-cryptocurrency-part-ii-bitcoin-wallets-2f68099b055f
What Bitcoin Did episode with Mahsa Alimardani: https://www.whatbitcoindid.com/podcast/wbd-live-bitcoin-around-the-world-panel-at-the-oslo-freedom-forum
Thae Yong Ho, the highest-ranking North Korean defector, at the Oslo Freedom Forum 2019: https://youtu.be/HmnBvsHl0qY?t=2662
Unchained episode with Jimmy Song: https://unchainedpodcast.com/jimmy-song-on-why-bitcoin-will-be-the-winning-cryptocurrency-ep-69/
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Tarun Chitra, cofounder and CEO of Gauntlet, describes how his company enables crypto teams to run through simulations to see how their design choices will affect the project once it is trading. Using the cofounders' background in quantitative finance and high-frequency trading, Gauntlet uses tools from behavioral economics as well as game theory, plus real-world information such as exchange data to model outcomes after 100,000 blocks. We discuss how it makes its assumptions, how proof of stake differs from proof of work, and how the initial token distribution can affect the eventual concentration of tokens. He also reveals what design choice tends to have the greatest impact, as well as what main factor crypto teams aren't thinking about that they should be. Plus, he talks about his involvement in the launch of Facebook's Libra project, and gives us his thoughts on the design choices Facebook made regarding the consensus algorithm, programming language and the structure of the coin.
See the full show notes on Forbes! http://www.forbes.com/sites/laurashin/2019/06/18/how-to-make-cryptoeconomics-work-in-live-trading/
Take the Unchained Podcast survey!
Help make Unchained better! Take our survey and enter the giveaway for a free Bitcoin lightning node and a yearlong Casa Gold membership, — including a multisig security app for iPhone and Android, a Trezor hardware wallet, a Casa faraday bag, and 24/7 support! https://www.surveymonkey.com/r/unchainedsurvey2019
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode Links:
Gauntlet: https://gauntlet.network
Tarun Chitra: https://twitter.com/tarunchitra?lang=en
Gauntlet blog posts: https://medium.com/gauntlet-networks?source=logo-23cfbaf25c9a
Unchained episode with Olaf Carlson-Wee of Polychain from Consensus 2019: https://unchainedpodcast.com/to-the-moon-and-back-with-polychains-olaf-carlson-wee/
Zero Knowledge podcast episode with Tarun Chitra: https://www.zeroknowledge.fm/61
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In this panel, recorded at the Oslo Freedom Forum 2019, I moderated what an attendee described as a "lively" discussion on the relationship between finances and freedom with Bitcoin author and educator Jimmy Song; Alena Vranova, Head of Strategy at Casa; and Coin Center founder Jerry Brito. We talked about what it's like to live under a regime where people don’t have a lot of financial freedom, how the move to a cashless society is leading to a surveillance state, and how we're seeing the emergence of a corporate surveillance state. We talked about how cryptocurrency could bring us more financial freedom, how crypto is/should be regulated, privacy coins and the imminent Financial Action Task Forces rules that require crypto exchanges and other services send each other information on customers for each transaction. Plus, we discuss bad state actors using crypto.
Read the show notes on Forbes!
http://www.forbes.com/sites/laurashin/2019/06/11/how-bitcoin-and-cryptocurrencies-can-further-financial-freedom/
Help make Unchained better! Take our survey and enter the giveaway for a free Bitcoin lightning node and a yearlong Casa Gold membership, -- including a multisig security app for iPhone and Android, a Trezor hardware wallet, a Casa faraday bag, and 24/7 support! https://www.surveymonkey.com/r/unchainedsurvey2019
Those of you interested in learning more about Casa, or about protecting your Bitcoin investment generally, should check out my interview with CEO Jeremy Welch. https://unchainedpodcast.com/how-casa-makes-it-harder-for-someone-to-steal-your-bitcoins/ Thank you to Casa for donating!
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Oslo Freedom Forum: https://oslofreedomforum.com
Human Rights Foundation: https://hrf.org
Jimmy Song: https://twitter.com/jimmysong
Alena Vranova: https://twitter.com/AlenaSatoshi
Jerry Brito: https://twitter.com/jerrybrito
Programming Blockchain: https://programmingblockchain.com
Casa: https://keys.casa
Coin Center: https://coincenter.org
FATF rules: https://www.coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges
How regulation could spur the development of technology in the crypto space toward more P2P:
Vitalik blog post on this: https://vitalik.ca/general/2019/05/09/control_as_liability.html
Michael Casey on the topic: https://www.coindesk.com/the-cat-and-mouse-game-of-crypto-regulation-enters-a-new-phase
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Peter Smith, the CEO of Blockchain, discusses how the company got started, why the company is focused on users owning their own private keys and how that is what enables all the most interesting applications of blockchain technology. He talks about the full range of customers and markets they serve, their lending business and their dark pool. We also discuss regulation, SegWit, nation-states getting involved in crypto and why Blockchain plans to go public.
Read more on Forbes.com: http://www.forbes.com/sites/laurashin/2019/06/04/everything-interesting-in-crypto-relies-on-having-a-private-key/
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Peter Smith: https://twitter.com/OneMorePeter
Blockchain: https://www.blockchain.com
Wired article on the short period when cofounder Ben Reeves worked with Brian Armstrong: https://www.wired.com/2014/03/what-is-bitcoin/
Dovey Wan tweet on manipulative trade on Bitstamp/Bitmex: https://twitter.com/DoveyWan/status/1129246233917382656
Fortune article on Blockchain launching an exchange: http://fortune.com/2018/02/15/blockchain-google-coinbase/
SEC guidance mentioning airdrops: https://www.sec.gov/files/dlt-framework.pdf
FinCen guidance mentioning hosted vs. unheated wallets: https://www.fincen.gov/sites/default/files/2019-05/FinCEN%20Guidance%20CVC%20FINAL%20508.pdf
Blockchain's Airdrop of XLM: https://www.theblockcrypto.com/2018/11/06/stellar-is-airdropping-125-million-to-blockchain-wallet-users/
The Wall Street exodus from crypto: https://www.crowdfundinsider.com/2019/01/143834-is-the-exodus-from-wall-street-to-crypto-reversing-jamie-selway-leaves-blockchain/
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