"too big to fail" doesn't yet apply to any entity directly engaged in this space, as its entire business model. J.P. Morgan got away with a central role in the GFC because it did not suit the regulatory environment to kick one of the legs of a wobbly table.
The same does not apply to this, or any other coin- centric company. Yes, in our terms, these are huge dollar sums. But if you work in fintech, this is a small pimple on the side of trades in real goods, and existing financial instruments.
Look: the fintech people get this space, and they are not dissing the model entirely. But please, don't pretend that the feds could not shut this agency down tomorrow, and it would have almost no effect on the US bottom line reports for financials.
That's a pretty good summary of a casual conversation I had with someone that works in investing about Bitcoin and Ethereum. He said blockchain is here to stay and that knowing what companies are going to try and do with it is useful but these currencies, or at the very least, their value, could go away very quickly.
This is what my uneducated hunch is, so I'm glad to hear you say it, but I'm enjoying reading all the countervailing opinions too, to educate myself further!
The same does not apply to this, or any other coin- centric company. Yes, in our terms, these are huge dollar sums. But if you work in fintech, this is a small pimple on the side of trades in real goods, and existing financial instruments.
Look: the fintech people get this space, and they are not dissing the model entirely. But please, don't pretend that the feds could not shut this agency down tomorrow, and it would have almost no effect on the US bottom line reports for financials.