The obvious objection is that this is leveraged speculation in new language, and that traditional markets keep their frictions for good reasons. Both points have force. A funding rate is not a substitute for the price discovery that settlement enforces, and continuous leverage on volatile assets concentrates risk in ways periodic markets do not. But […]
Wall Street won’t buy ‘trustless’ security promises
Crypto exchanges have become the primary venues where millions of people and businesses store and transfer digital money. According to industry data, the crypto market is currently seeing roughly $190–$192 billion in 24-hour trading volume. As exchanges expand into multi-asset venues, the security mechanism evolves beyond wallets into identity, permissions, pricing and settlement. Yet, despite […]
