PANEL - Building Infrastructure to Invest & Trade Digital Assets: Who do you call? What do you ask?
Channel: Beryl Elites
Date: 15/07/2022

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PANEL - "Building Infrastructure to Invest and Trade Digital Assets: Who do you call? What do you ask?"

PANELISTS: ❖ Moderator - KARL PAULSON EGBERT, Partner, Asset Management ❖ KINGA BOSSE, Chif Financial Officer, Lukka ❖ CHRIS ARULIAH, Chief Product Officer, BCB Group ❖ JOHN WARD, Managing Director, Kroll ❖CAMILIA CHURCHER, Head of Sales, Anchorage Digital

Karl Paulson Egbert's introductory notes
at 0:43,
"What we're interested in on this panel is - what's not working, what hasn't been working in the last few weeks, what else might break, and then finally, what we can do to fix it .."

Kinga Bosse, Lukka
at 1.32
".. in the last few weeks people probably realized that we need a lot more transparency, a lot more understanding of what is going on in these protocols, what does protocol even mean, and the retail customers .. where can you get the right information."
at 11:04,
"We need to make sure that we understand the price formation, the quality of the data that we're providing, so we select exchanges that we’re using data from .. We understand what the anomalies are so the data when it comes out of Lukka is a useful data for accounting purposes, reporting purposes, trading purposes .. I think  what's going to happen in the industry is that people will rely more and more on institutions that actually provide that clarity, transparency, accuracy, around these things so that they can really trust and move into the market. That's what really hinders the institutional adoption at this point.”

Camilia Churcher, Anchorage
at 3:12
“It's an interesting irony, I think in digital assets, which is supposed to be trustless and decentralized .. I don't think we've talked much about regulation yet today and I think there's a lot of companies operating in a very gray area from a regulatory perspective .. and again to your point about transparency .. most of the companies you deal with in crypto are private companies, they're early stage startup companies .. I think it's difficult to understand exactly how a company's operating, if they're not a public company .. so doing very deep operational due diligence is really important.”

John Ward, Kroll
at 4:21,
"We started doing operational due diligence in the digital asset space about five years when it was predominantly long-only and crypto winter showed it to be long and wrong environment and we've reviewed somewhere between 100 and 200 managers"
at 5:20,
"You have rules and regulations about stable coins or let's say money markets that stable coins don't follow, that you would say wait a minute how is it that people put a billion dollars in it and somehow you don't actually have a billion dollars. So there are some of these core principles that seems that in the crypto space didn't learn from the bad actions of the traditional space and they're being relearned again. What we're seeing is sort of areas of excessive risk or areas of excessive exuberance or areas when they didn't follow best practices are being revealed."

Chris Aruliah, BCB Group
at 10:15,
“The crypto market is a fragmented market and obviously there'll be players out there that will want to trade across multiple venues, but when you're servicing clients, from our perspective, we're very careful about the counterparties that we trade with. We have a very limited set of counterparties, carefully selected. It's not just the trading side, it's also the custody side and you know we look at every partner through a lens of risk, the size of that partner as well. There'll be big exchanges out there that we will not trade with.”  

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