He Yi: Teams with a TradFi background often view the use of customer funds as normal, but crypto is not banking

2022-11-11 17:46:04
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ChainCatcher message, Binance co-founder & Binance Labs head He Yi stated on Twitter that nobles with a TradFi background often believe that using customer funds is normal, but crypto is not a bank.

Simply viewing cryptocurrency as currency or stocks can lead to risk management issues—similar to putting your seed phrase in a vault and hoping that guarantees safety.

The (sad) reality is that most of the rapidly rising and falling teams come from the TradFi world, belonging to a small group that may communicate best with regulators.

The downfall of these individuals creates an extremely unfair bias against the nascent cryptocurrency industry. (Even sadder) It is only at the moment they fall that they truly understand why they fell, just hoping "the bull market is here, I won't die." (source link)

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