It has been a tough year for the crypto industry. The market crash of 2022 exposed how far the industry had strayed from its early ideals, while the recent demise of three crypto-friendly banks has exacerbated a longstanding problem. Can decentralized technologies thrive in a decentralized system?
These issues and more will be discussed at Consensus 2023, where professionals from all sides of crypto and Web3 will come together to discuss the challenges facing the industry and possible solutions. Here’s a look at a few of the sessions designed specifically for this moment.
Money Reimagined Summit (Pro pass only)
No Borrow, No Sorrow? Leverage’s Proper Place in Crypto
Wednesday, April 26 - 10:10 a.m. CDT
Rehypothecation, yield farming, margin trading and other return-juicing maneuvers played a major role in inflating the bubble that burst in 2022. Credit is an important lubricator in any economy; the question now is whether and how it can work in crypto without repeating dangerous excesses.
Speakers include Andrew Keys, managing partner at Darma Capital; Austin Campbell, Adjunct Professor at Columbia University Business School; and Kalin Metodiev, CFA, co-founder and managing partner at Nexo.
Cleaning up the CeFi Mess: The Budding Market for Distressed Crypto Assets
Wednesday, April 26 - 10:45 a.m. CDT
A wave of bankruptcies among centralized crypto exchanges and lenders has given rise to a secondary market for distressed assets reminiscent of the ones that developed after the 1980s savings and loan and 2008 global financial crises. But opportunistic investors face unique challenges in crypto bankruptcies, not least of all unresolved questions about the legal status of digital assets.
Speakers include Deborah Kovsky-Apap, partner at Troutman Pepper LLP; Thomas Braziel, managing partner at 507 Capital; and Brown Rudnick partner Stephen Palley as moderator.
Crypto’s New Market Structure
Wednesday, April 26 - 12:45 p.m. CDT
The 2022 crash decimated leading exchanges, lenders, market makers and other key elements of global crypto markets’ infrastructure. Who will fill critical roles such as liquidity provision and prime brokerage in the next chapter, how will things like custody work differently given lessons learned and likely regulations, and will exchanges finally deliver reliable proofs of reserves?
Speakers include Mike Belshe, CEO of BitGo, and Chris Zuehlke, partner, and global head at Cumberland DRW.
Mainstage Sessions
Remember Why We’re Here: Crypto’s True Purpose
Thursday, April 27 - 10:00 a.m. CDT
The crash of 2022 laid bare how far the cryptocurrency industry strayed from its early ideals, becoming as opaque as the system it challenged. This year’s banking panics have underscored its reliance on that system. On the eve of CoinDesk’s tenth anniversary, it's an appropriate moment to take stock of how the industry lost its way, and whether and how it can still deliver on its original promises of greater transparency and resilience. After all, bank runs and runaway inflation merely highlight the need to rethink the legacy paradigm.
Speakers include Caitlin Long, founder and CEO of Custodia Bank; Neha Narula, director of Digital Currency Initiative; Erik Voorhees, founder of ShapeShift; and CoinDesk Chief Content Officer Michael Casey as moderator.
Is Crypto Banished From the Banking System?
Friday, April 28 - 10:00 a.m. CDT
The demise of three crypto-friendly banks, along with not-so-subtle pressure from U.S. regulators, exacerbated a longstanding problem. Ever since the early days of bitcoin, startups in the field struggled to obtain or keep basic bank accounts as traditional financial institutions feared regulatory and reputational consequences from associating with anything “crypto”-coded. Industry veterans, including Custodia Bank founder and CEO Caitlin Long, discuss this perennial challenge and possible solutions.
Register for Consensus 2023 Today
Recent events with Silicon Valley Bank, Silvergate Bank and Signature Bank have highlighted the challenges faced by the cryptocurrency industry. The demise of three crypto-friendly banks has made it more difficult for companies in the industry to operate. However, the discussions at Consensus 2023 offer hope the industry can find solutions to these challenges and continue to grow and innovate.
Register today for the best rates on Consensus passes. Ticket prices increase closer to the event!
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