Incredibly, crypto exchanges are all charging an arm and a leg for platform access. This is akin to the Buffalo Wild Wings waitstaff charging for napkins.
McKinsey would charge $10 million for this advice but I’ll offer it for free: as David Unvert says, we’re all “apostles of cryptos” – we all have an obligation to do what’s right. He’s spot on.
So here goes: get rid of exchange listings. Yes, Binance: you too. The industry is on its knees. Projects are dying. Most coins are down 85%+. You’ve got this logjam of talented projects stuck in crypto purgatory. They can’t get out; come to an exchange now they can scarcely afford, or sit in the corner in stealth mode.
As Coinbase has proven, crypto trades are very price “insensitive” – or inelastic. They’ll pay eye-popping fees to buy digital assets. Shift the burden or costs to end users and let burgeoning projects drink from the much-needed capital trough. The only ones benefiting these days are exchange operators. Obviously this isn’t a long-term viability. If the demand side of the equation – the investors – are comfortable paying a premium for access to worthwhile investment opportunities – like they keep demonstrating a willingness to do so – then I say give it to them.