Opinion: Digital Currency Group's Genesis implosion marks another bottom in trust for crypto. Is there anyone left to trust in the crypto space?
As the bear market drags on, more fundamental systems are breaking — systems like loan platforms, over-the-counter rails and exchanges. Failing systems and the relationships between companies operating those systems represent structural breakdowns in the market, which are certainly critical to note. Nevertheless, these are mechanical systems that can be refactored and rebuilt. Trust is another story.
We are left with an unfortunate reality. Trust will not only need to be rebuilt in the companies operating in the space, but it will also need to be rebuilt in the ecosystem that enables the companies.is the head of business development at Heirloom, a software-as-a-service startup. He started in the cryptocurrency industry in 2014 as an independent researcher before going to work at Gem and subsequently moving to the hedge fund industry.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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