BitGo CEO Warns Crypto Concentration Risk Could Be Worse Than Lehman
- —Belshe: a failure at a firm combining exchange, brokerage and custody would hit the whole market
- —He said lost private keys can cut off access to assets, creating systemic weakness
- —Coinbase cited as an example, holding futures brokerage and derivatives clearing licenses
- —A procedural vote on the CLARITY Act failed to reach 60 votes on Sept. 15
Why it matters: The debate over separating exchange and custody functions could shape US regulation of major crypto firms.
Source: Koin Bülteni