BREAKDOWN: Why Today's Crypto Exchange Leaders Are Powerful, but Not Inevitable

As crypto asks why prices shot down, the power and influence of exchanges are at the center of the conversation.

Feb 21, 2020

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ABOUT

After settling in to the $10,000 price level, BTC suddenly and rapidly dipped more than 5% in an hour on Wednesday. As the market discusses possible explanations, some floated the unexpected simultaneous downtime of Binance and Coinbase as a causal factor.

In this episode of The Breakdown, we discuss the power exchanges wield - both in terms of market liquidity as well as the ability to shape news cycles. The good news is that new funding for insurgent exchanges suggest that power today is not inevitable.

Lastly, we discuss the latest in central bank digital currencies, with Sweden launching an e-krona pilot; a former head of China’s national bank saying Coronavirus could accelerate efforts; and a new member of the Libra Association.

HOST

CoinDesk

CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies.

We cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.