A Top Crypto Exchange CEO Explains Why The 2020 Boom Is Different

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I'm really excited about our guest today a very important player in the industry, of course, over the last several months along with everything else everything's going to the moon these days stocks gold. Bond you name it. CRYPTO currencies are no exception and it feels like there's certainly the most amount of enthusiasm that we've seen in. CRYPTO price in the the boom in twenty seventeen, and still the questions are remain in. There's still plenty of skeptics. What's it forward this all going is this just another bubble that will burst like last time though we're going to dig into some of these questions today very excited to bring in our guest Catherine Coli. She is the CEO of financial us a crypto currency exchange in the US, a wholly owned subsidiary. By chance to one of the biggest crypto currency exchanges in the world Catherine thank you very much for joining us. Thank you so much. Really excited to be on. So I do remember last time during last the last boom twenty-seven teen We did see the emergence of finance, which is the company that owns you just what is the structure and relationship of finance and financial us. I hate to come out of the gates correcting you on a couple of things, but I'm going to so okay, that's fine. That's fine. So binavince DOT COM, it's a global ecosystem that really has been around for the last three years at really expanding the access around the world for people to engage with digital assets and around last year in the summertime. I joined to become the CEO Finance us which is actually an independent. Entirely run out of the United States with the ability to license the technology that finance dot COM has. So you think about matching engine, the tech stack that's really there. We're able to really bring that into the US as well as customize it entirely for an American audience. So when you think about a Crypto crypto global platform, so many things are so different in the United States, the on ramps. Ach Debit cards, wires, all the dollar components. So everything has to be custom fit and made specifically to the US. So that's really where by Nance US comes in the other components are US regulation. So in terms of violence us, we're a registered with Fincen we have a are regulated by the state level with the money transmitter licences fully operating in thirty eight states the newest state in Florida and so everything we're doing is in line with the US regulation. As catered to in American user. Got It okay. With that out of the way and I appreciate you clarifying it and I want people to understand what the exact structure is. Let me start with what I see is sort of one of the issues or problems with the crypto currency industry writ large as a market and. I want to hear I'm sure you'll disagree with me but this is this is something that I think about a lot so. Late. Twenty seventeen or you know people started getting like super into Bitcoin also a theory and maybe a couple of others. And then by like. November and December of that year suddenly the market was just flooded with supply and suddenly it's like and now here by some bitcoin cash and then here by like eight more heard forks of bitcoin cash. Oh, and there's like fifty other. ICO's. So basically you have this thing which kind of started off essentially as bitcoin and bitcoin alone in one of the big selling point was the fact that is unique that there's a fixed supply of it but then the industry strikes me as manufacturing. So many new assets to capture the demand for crypto and so suddenly exchanges become in my mind flooded. With new coined new project very fast the incentive for new players is not to jump on a project that say already gone up ten thousand percent but to start a new project that could itself go ten thousand percent and so then eventually it all of comes crumbling down because the investor the end buyer is just sort of choked with us so much apply and so am curious if you think that phenomenon Israel it seems like that way to me and are we seeing it again this time with the numerous the hundreds of new coins that seemed to be emerging onto the ecosystem every day. You hit the nail on the head. So when she knock Komodo came out with is in the or imagination for a peer to peer network with this scarce. Asset You realized that this would be absolutely possible assuming no other coin was manufactured. No other supply came in to dilute it, and this was the only way that would be. But. You forget that humans have a competitive need, and so we really can't take people away from building something that can be better stronger or better marketed or cater to a different audience, and so you're going to always see people try to riff on it or a fork as the The industry says along when you're using the same elements of a blockchain, just rebranding it and so with that I, I agree with you that it does seem like, oh no, I can't I can't really see which one I'm going to be involved in, but that's really the element that we face in all things in life. I it wasn't the Coca Cola was the only carbonated beverage that was out there. You are always going to see something come up new something that can either be capturing a new market audience or something that was gonna be delivering a different need so that that's really where I see the human need for competition continuing and we have to accept that. The best part about that is you get innovation so where there sings like the birth of the theory on which then has led a c. items as humorous as Crypto Kitties, and then as impactful as stable coins, you're also seeing it changed the way were were seeking yields now. So you've got different components that are letting people really evaluate industry can change the game

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