We will be meeting in person in the semi-private dining room at the Shoal Creek Saloon, 909 N. Lamar. This month’s topic is:
The Future of Cryptocurrency
As we begin the new year and while there is a variety of cryptocurrencies out there, one has been at the forefront of them all. FTX, and specifically the founder Sam Bankman-Fried, is facing eight criminal counts, two of which include money laundering and conspiracy to avoid campaign finance regulations. This event has now been implicated in a downward spiral for the rest of the global cryptocurrency market – from Africa (Nigeria and Kenya) to Latin America (El Salvador) and Asia (Vietnam and Singapore). By November, Bitcoin, which is the world’s largest cryptocurrency, had fallen around 65%. The entire fiasco has now been deemed as “Lehman moment” referencing the 2008 investment bank collapse.
Are there any specific measures that should be taken in order to ensure this does not happen again? Will the crypto world learn that regulation does not equal unfairness? Certainly, confidence in the industry has been shaken, but it has also led global regulators to “tighten their screws if you will.” The risk is high, and yet, according to Changpeng Zhao, who runs Binance, the biggest crypto exchange, regulations are necessary and should be done properly. He also agreed that the analogy comparison to the 2008 financial crisis was probably an accurate one. So, what is the future of Cryptocurrency?
Please join us for a very lively discussion on a global phenomenon with real implications for the world’s economy. We also recommend a recent very informative PBS Nova program on this topic: Crypto Decoded.
For more details contact:
Ellen Murry: ellen@wacaustin.org
Polina Anastassieva: polina@wacaustin.org
