https://www.cnbc.com/video/2022/11/...ays-brandeis-professor-stephen-cecchetti.html Watch the 5-minute video in the attached link. Brandeis International Business School Professor Stephen Cecchetti joins ‘Closing Bell’ to share his beliefs on why regulators should resist the urge to regulate crypto, the reasons to limit bank exposure to crypto and the concerns associated with regulatory weakness around crypto. Thoughts?
He does not get money for his analysis, suggestions or forecasts or can live from it. He gets a small fixed salary for teaching, so I would not expect any good or solid advice from him, what else.
The more it is regulated, the further you turn it into CeFi, which is basically the opposite direction as was intended from day #1... the whole point was to get away from FIAT bank bail-outs and regs... and dollar debasement, etc.
If you don't regulate it, as long as it has value it will be a hot potato in their hand as you can not turn it off. If you regulate it, you accept it. In my opinion lending and leverage are things that should be disallowed in crypto.
I got the exact opposite from him: he is an uninterested 3rd party, probably objective and has financial background. His opinion is more valued than the average billionaire's. I agree with him. You want unregulated free markets? You shall have it! Live through 100 years of American banking history just in a decade or so. See what you learn.... Mt.Gox when was a card trading website wasn't regulated, neither are beenie babies. So why should imaginary money on servers be?
Who are you to say this... a dictator? DeFi is supposed to be land of the free. So what if it's volatile? It's FREE to be volatile. If someone doesn't like that, they can go elsewhere... If someone is an 'idiot' and keeps their coins on an exchange, when YOU ARE SUPPOSED TO KEEP IN YOUR OWN WALLET, who is to blame for this? Do we blame Musk too because some 'idiot' decides to race a Tesla at 200 Km/h down a country road, or drinks 20 shots before getting into the car? When you take risks in volatile markets like that, you accept the consequences. Sorta like selling strangles into highly volatile commodities. You don't get to scream later after getting margin called. You took that risk... Don't sit there and talk about 7-standard deviation moves, as some sort of excuse. In the DeFi world, when you lose your capital doing stupid things, YOU are responsible. There is no BAIL out by everyone else responsible for your own foolishness. That is one of the benefits of DeFi. No moral hazard. I understand this may be a very hard concept to grasp for those 'ism' majors that wrack up stupid debt and expect taxpayers to pay for their mistakes.... Go Biden!
My issue is that your opinion is to remove lending and leverage for everyone else, just because you personally seem to have a problem with that.
4 minute readNovember 17, 20223:10 PM CSTLast Updated 3 days ago 'Wave' of lawsuits over FTX expected, but investors will face legal hurdles https://www.reuters.com/legal/wave-...ly-docket&utm_term=DailyDocket-MailingList v2