ErisX CEO Thomas Chippas talks about building a cryptocurrency exchange in the mold of traditional futures exchanges.
At one point in the 2013 comedy “The Wolf of Wall Street,” Matthew McConaughey’s character Mark Hanna – a slick, coke-snorting stockbroker – tells Leonardo DiCaprio’s character, “Nobody – I don’t care if you’re Warren Buffett or Jimmy Buffett – nobody knows if the stock is going to go up, down, sideways or in circles.” While many in the financial services world might disagree, we can probably all agree that this accurately describes the current crypto market. Just replace “the stock” in that sentence with “bitcoin.”
Economic Studies at Brookings yesterday dropped a call for better regulation of the cryptocurrency and digital assets industries by none other than Tim Massad, the former chairman of the CFTC. As befits the former head of an agency that embraced principles-based regulation, Massad’s paper is long on analysis of the industries and the regulatory issues that seem to afflict business conditions.
In what might prove to be a seminal moment in the development of the cryptocurrency and blockchain community in Chicago, Chicago Mayor Rahm Emanuel addressed an audience of nearly 150 on Monday. Extolling the virtues that Chicago possesses, Emanuel made the case that the city has the opportunity to become a preeminent global fintech center.