TradFi lessons crypto ignores

Xin is the Group CEO of GSR Markets, one of crypto's oldest market-making firms - bootstrapped with $20K over twelve years ago and still independently funded today. 

In this episode, he breaks down why crypto's market structure is fundamentally broken, how misaligned incentives are holding the industry back, and why GSR is transforming into crypto's first full-service investment bank modeled after Goldman Sachs. 

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Follow Xin Song

• Twitter: https://x.com/xinsong86

• Twitter: https://x.com/gsr_io

• Website: https://www.gsr.io/

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DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction1:32 Please Subscribe

2:02 Sleep & Age Banter

3:15 Advantage Of Age & Maturity

7:33 Who Is Xin Song?

9:23 What Did You Learn From Your Parents

12:47 Partnerships: @JupiterExchange @KASTxyz

13:27 What’s Happening With Crypto Right Now Considering The Market

16:12 What Broken Market Structure Means

19:18 Why Crypto Companies Shouldn’t Be Competing With Each Other

21:27 What Shocks You That People Don’t Understand With Crypto vs TradFi

26:42 What’s The Incentive To Make These Changes

28:41 GSR Explained To Your Mom

32:51 Partnerships: @Ethena @sumsub

33:53 Why Do Market Makers In Crypto Have Bad Reputations

36:48 How To Fix The Crypto Market Makers Reputation

40:09 What Does It Mean That GSR Wants To Become The Goldman Sachs Of Crypto

42:05 Example: Goldman Sachs Worked With Coca Cola & How GSR Reflects That In The Web 3 World

44:50 Why Is It Necessary For GSR To Become The Goldman Sachs Of Web 3

48:34 You Made 2 Major Acquisitions, Why?

51:49 Partnerships: @Trezor @BitwiseInvest @SuiNetwork

52:45 Why Is Now The Best Moment For Focusing On Tokenization

56:24 What Must Happen For 10% Of $300 Trillion To Be On Chain

59:20 Katana Explained Simply

1:12:18 Closing Thoughts