Institutions are “desperate” for cryptocurrencies

As FTX and Alameda Research come more and more into the public eye, a side effect is that the billionaire has become more and more of a public figure. Some watchers hope that SBF, especially after making a significant contribution to Joe Biden’s U.S. presidential campaign, will become a professional lobbyist on behalf of the crypto ecosystem.

Although he says he’s open to discussing his views, he’s not trying to bypass or sell someone a used car:

So I’m happy to be a resource for anyone in government or anyone else who wants it, and I think the industry is fun to talk about. […] Look, they have a lot of people coming to them right here with agendas. You know, to the extent that I have an agenda, I just want it to come from my actual thoughts and beliefs. That’s all I have to say is my thoughts and beliefs instead of trying and creating a model of reality that happens to fit where I want or something like that. “

Another hot topic of conversation is the growing urge for institutional adoption. While Bankman-Fried says companies are increasingly “desperate” to get involved, they’re not always entirely sure what it looks like or what exactly they want to do. As a result, the process is sometimes a feel for things.

“The first thing we do is just listen, right? We thought what is your goal here? What do you really wanna do And then we can say, okay, great, that’s how the industry works right now. Ignore what you say This is here, this is the land. […] We want a day that is not far from causing a big problem. “

After all, he weighed a class one battle between Ethereum and Solana. While Ethereum maximalists are quick to point out the developer and ecosystem moat, SBF is wondering how unusable this moat really is. When it comes to true mass adoption, it’s important to differentiate between remedial blockers and more persistent – like extensibility – blockers.

“I think that’s one of the fundamental tensions here, that the rift is insurmountable if crypto never grows. But when the cryptocurrency is 50 times bigger, that trench makes up two percent of the final pie. The rest, yeah, is why is the moat so valuable as a business? A valuable ditch to deter others. A moat won’t let you grow on your own, does it? It removes one specific barrier to your growth that is your competition, but a moat doesn’t grow by itself. […] If your castle really couldn’t get any bigger, probably no one would get in, but it’s 2% land now and it won’t be. “

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