Cryptocurrency Exchange
topic on 4 shows · 5 statements across 5 episodes
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the a16z Podcast 
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5 statements about Cryptocurrency Exchange, every show
Weisbrot: Facilitating crypto exchange listings yielded 10x higher revenue than advisory work
“And then when I was doing that, I realized that they needed other things like getting listed on exchanges. And those were the things that really made me even a magnitude of order higher in money than the other things I was doing. And when I realized that I sto…”
Chamath: Crypto exchanges make tens of billions front-running order flow
“It's not illegal to front run crypto trade. So Most of these organizations that that run an exchange, right, compete for order flow, and they're able to just look at that order flow, and then they front run the trade, and they're on the other side of that. So …”
Bankman-Fried: Crypto exchanges generated $1B annual revenue in late 2018
“So this is circuit late well, they were transacting how much per day, you know, globally five to ten billion dollars. What were their fees? They're making like four basis points on average on that. Right. And all right, you can sort of do the math there, actua…”
Haun: Blockchain technology itself has never been hacked, unlike crypto exchanges
“And we, blockchain's never been hacked. Some of the cryptocurrency exchanges have been hacked. You know, Mt. Gox, Coincheck more recently, Bitfinex, and others. But the blockchain itself has never yet been hacked.”
Verifying 1% of balances exposes corrupt crypto exchanges
“It's enough to, say, one percent of the customers check, If the exchange cheats and actually does not include people's obligations, you know, if a small number of fraction of the, ah, ah, customers actually check that the proof is valid, a, ah, a corrupt excha…”