I departed the courtroom feeling empty, trying to process the gravity of what I had just experienced.
1. Crypto has very real and colossal consequences. Judge Kaplan had also adjudicated cases involving: Trump, Prince Andrew/Epstein, and Al Queda terrorists. We’ve hit a scale where people’s life savings are on the line. It’s not just memecoins, fun, and games. Normalizing negligence out of ‘degen’ culture is reckless. If we want to power a global financial system bigger than the current day crypto-native casino, we cannot lose sight again this cycle.
2. Seeing the jury made me realize how far we have to go in educating and onboarding normal individuals. Blockchain UX is still a joke.
3. It’s unintuitive for humans to grapple with the true magnitude of finance at scale. Small % errors can lead to hundreds of millions in accounting discrepancies.
4. Bring business back on-shore through sensible regulation. Coinbase is a trailblazer in long-term thinking.
5. DeFi is the answer. Build trustless systems where accounting is open, transparent, and verifiable by external parties.