Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. Your Online Source for Bitcoin Antoine Blondeau is Founder and Managing Partner of Alpha Intelligence Capital, a global venture capital fund focused on deep Artificial Intelligence/Machine Learning technology companies. Antoine has 25 years of experience in the technology industry, having held senior leadership positions at Good Technology, Salesforce.com and Sybase. Antoine’s career highlights include founding Sentient Technologies, as well as leading Dejima as CEO, the company that powered DARPA’s foundational CALO project that later evolved into Apple’s Siri. Antoine was also COO of Zi Corporation, whose smart text input software was embedded in hundreds of millions of devices.
The public sector should adopt a determined position by establishing a comprehensive regulatory framework that addresses the social and environmental risks associated with crypto, including the use of unbacked crypto-assets for speculative purposes. It should also resist calls to provide state backing for cryptos, which would essentially socialise crypto risks. The public sector should instead focus its efforts on contributing to the development of reliable digital settlement assets, including through their work on central bank digital currencies. Streams in Crypto Another episode of instability driven by high concentration risk was the fall of the crypto exchange FTX. Initially the crisis seemed to primarily affect liquidity, but it quickly evolved into a solvency crisis. This situation arose due to FTX’s inadequate risk management, unclear business boundaries and mishandling of customer funds. The repercussions of this event rippled through the crypto ecosystem, causing cascading liquidations that underscored the interconnectedness and opacity of crypto markets. Ultimately, it showcased how swiftly confidence in the industry could deteriorate.