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  • Adam Yarnold

“Blockchain technology is going to rewire all financial services”-Week 34 Recap, Blockchain+Banking

Our big themes at Fin3 are (1) Financial Services are going to run on blockchain in 10 years, and (2) in the U.S., blockchain technology and crypto will eventually be regulated.


Commercial Adoption:

- “Blockchain technology is going to rewire all financial services,” - Tom Farley, the former president of the New York Stock Exchange ... Goldman building a "blockchain-based trading platform ... to service itself and its clients..." from "Goldman Sachs Aims for a Wall Street Built on Blockchain"


Regulation

- crypto exchanges being pushed towards regulation by the CFTC in the Senate, link

- The FDIC is cracking down on crypto companies representing or implying that a product is FDIC-insured. They sent cease and desist letters to FTX and four other crypto firms.


Miscellaneous

- crypto lending rates increasing by 50-200bps post Q2 problems (BTC rates at 250bps, stablecoins at 750bps) - from The Block


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