Beyond trustless: strong governance in crypto is needed

Over the past year we’ve been witnessing what seems like a slow-motion train wreck involving many of the crypto industry’s fallen angels – Terra USD, Celsius, Three Arrows Capital, FTX and Genesis, to name a few. And the collateral damage from spillovers into banking is growing, with crypto-bankers Signature Bank and Silvergate Bank now added to the list. Silicon Valley Bank’s failure was primarily about risk management and supervision, but its concentrated exposure to crypto firms was also a