Bullish CEO: The crypto industry is increasingly reliant on the US dollar, and trading platforms need transparent auditing.

According to BlockBeats news on September 13th, BlockBeats reporter covered the front line of Token2049 and reported that Bullish CEO Tom Farley said during the roundtable discussion "The Path Ahead for Crypto as an Asset Class" in Singapore's Token2049, "The current situation in the digital asset field is not as bad as the FTX crash, but let's not fool ourselves, the situation is not good, making money is difficult, and we all hope to see more innovation. But I am a staunch supporter of Bitcoin, I believe in blockchain, and I also believe in the overall blockchain technology and many things happening in this field. However, I feel like an old man at this conference. Everyone is talking about decentralization, but what I see is that as time goes on, this industry is becoming more and more reliant on the US dollar. Not even other currencies, but the US dollar. No matter where you trade in the world, the US dollar is centralized and it is controlled by the Federal Reserve. Are we back in the era of algorithmic stablecoins, or is this stablecoin dependent on the US dollar? Yes, it is dependent on the US dollar. Therefore, we need to find a way to coexist with the centralized world in order to achieve the vision of decentralization in the next 5 to 15 years. However, the trading platform industry has not operated in a way that coexists with the centralized world, the regulated world, and the federal government, so Bullish's focus is on running the business like an adult, telling your customers how much cash reserves you have, auditing, transparently telling everyone who owns this company, where it is regulated, and what risk management practices are in place. This is not always happening in the digital asset field. I just attended a press conference where the world's leading trading platforms were discussed. I won't say which ones, but the world's leading trading platforms are still full of a lot of false trading volume to this day. Discussions about the leaders of these trading platforms getting into trouble are also ongoing."