Cointelegraph.comFeaturesJourneys

DeFi, derivatives and fixing an antiquated financial system: Kristin Boggiano

Kristin Boggiano, a lawyer and co-founder of the CrossTower digital asset exchange, developed her ethos on protecting the vulnerable while working and living in the Amazon during the 1980s, helping fight for the rights of the Cofn people against the Big Oil companies. She later worked creating mortgage-based derivatives on Wall Street right before exotic derivatives shouldered part of the blame for causing the global financial crisis, or GFC. In the aftermath, she put her inside knowledge to good use as a regulatory lawyer helping shape market reforms.It was partly due to the GFC that institutions were slow to adopt Bitcoin in the early 2010s, she says.I came upon [Bitcoin] from the perspective of a lawyer, because my clients wanted to buy and trade it. I had to figure out what it was and how to trade it, she recalls, looking back on the early days of crypto markets between 2011 and 2013.Back then, her clients were not ideological types they were institutions that saw opportunities in arbitrage. They didn’t have any philosophical desire to change the world with Bitcoin. They just saw it as an asset class, even as early as 2011 and 2012. One of these clients was Western Union, a financial services business she was representing.But Bitcoin soon faced a reckoning with the collapse of its primary exchange, Mt. Gox, and the much-publicized arrest of Ross Ulbricht, who was operating the Silk Road darknet market.As soon as Silk Road happened, and Mt. Gox, I think …
Story continues on Cointelegraph

Related posts
CBDCChinaCointelegraph.comInflationInvestments

Bitcoin no longer a fringe asset due to US dollar debasement, says Soros Fund exec

Soros Fund Management’s CIO said that Bitcoin is no longer out on the fringes, thanks to the debasement of the U.S. dollar over the past year. Soros Fund Management chief information officer Dawn Fitzpatrick said Bitcoin (BTC) may once have…
AlibabaAlipayCBDCcentral bankChinaCointelegraph.comdigital currencyPeoples Bank of ChinaTencentWeChatYuan

China’s digital yuan os backup to AliPay and WeChat Pay, says official

Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key…
BitcoinBTCCoinbaseCointelegraph.comGBTCGrayscale

Bitcoin buyers mean business as Coinbase reserves drop $8B in 3 months

Demand for Bitcoin remains solid and is fuelling a “supply shock” that shows no sign of abating, even at $50,000 and higher. Bitcoin (BTC) may have shed $10,000 in a week but the cryptocurrency’s “supply crisis” is more real than…