Mark Yusko on FTX, Responsible Crypto Innovation and the Future of Finance

Nov 23, 2022

Our guest this week was Mark Yusko, founder, chief investment officer and managing director of Morgan Creek Capital Management. With deep experience in both digital assets and traditional finance, Mark took us on a rollercoaster as we dissected the recent turmoil affecting the ‘crypto-verse’. Topics included:

• A post-mortem of the FTX debacle – an evolving situation with many missing pieces
• The sequence of events that led to the debacle
• Why Mark passed on the opportunity to invest… three times
• Useful idiots? Conspiracy theories versus actual conspiracies
• You can’t ban a decentralized system, but you ‘assassinate its character’
• The due diligence failure of high-profile capital allocators
• Fiduciary responsibility gone awry
• Parallels with other frauds and characters
• An analogy between digital assets and the Eurodollar system
• Bitcoin as the base layer of a future monetary system
• Displacing trust with truth
• Innovation – why timing is key
• Exciting ventures and projects for the coming years
• With every investment we get richer or wiser… never both
• And much more

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.

 

*ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.