Wall Street vet explains the Bitcoin trading improvements regulators are ignoring

Episode 48 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Dave Weisberger, co-founder & CEO of CoinRoutes.

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Dave Weisberger is a Wall Street vet who saw market structure develop and go electronic. On this episode of The Scoop, the co-founder and CEO of CoinRoutes joined host Frank Chaparro for a walk-through on how far trading in crypto has evolved and why regulators are ignoring these improvements.

He remarked:

“Firms that are domiciled and regulated out of the United States are at such a massive disadvantage in the growing digital asset world to the point where, as a startup, we had to make a choice to become software only.”

Weisberger views the slow regulatory work by the SEC as being harmful to investors, which among factors, is causing exchanges and custodians to put fees and premiums on crypto in order for investors to enter the market.

But as the market grows and becomes more differentiated from traditional markets, the crypto “market is getting more efficient," Weisberger said.

While the current sentiment sees larger players continuing to find themselves subject to arbitrage fees and the headaches of legal battles, Weisberger believes it won’t last forever:

"The settlement costs and the financing costs of doing certain esoteric strategies will ultimately go down dramatically as DeFi finds its sea legs and matures. We're nowhere near that point yet, but the application of that technology is going to be profound as it grows."

During this episode, Weisberger and Chaparro also discuss:

  • Regulatory risks in the US
  • Rich valuations in private crypto markets
  • Outweigh benefits to firms headquartered overseas
  • The completion of CoinRoutes’ Series B round of funding

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