Click to download audio version Date: Wednesday, 8th April Project: BlockFi
Role: Co-Founders On March 12th Bitcoin fell by over 50% from ~$8,000 to
~$3,800. One day earlier, the World Health Organisation had escalated the
evolving COVID-19 situation to pandemic status, and Bitcoin wasn't alone in
this, markets around the world crashed. The Coronavirus black swan event caused
huge volatility which has been a critical concern held by many Bitcoiners about
Bitcoin financial service companies. Critiques of these services have questioned
what the impact would be of such an event on crypto-backed loans and whether
they would lead to high default rates from borrowers. Would the risk management
strategies put in place by companies such as BlockFi be robust enough?
Coronavirus would trigger the market collapse that would test the doubter's
theories. In this interview, I talk to Zac Prince and Flori Marquez, the co-
founders of BlockFi, a bitcoin financial services business. We discuss how they
manage high volatility, operating as a custodian and the state of the Bitcoin
market.
Role: Co-Founders On March 12th Bitcoin fell by over 50% from ~$8,000 to
~$3,800. One day earlier, the World Health Organisation had escalated the
evolving COVID-19 situation to pandemic status, and Bitcoin wasn't alone in
this, markets around the world crashed. The Coronavirus black swan event caused
huge volatility which has been a critical concern held by many Bitcoiners about
Bitcoin financial service companies. Critiques of these services have questioned
what the impact would be of such an event on crypto-backed loans and whether
they would lead to high default rates from borrowers. Would the risk management
strategies put in place by companies such as BlockFi be robust enough?
Coronavirus would trigger the market collapse that would test the doubter's
theories. In this interview, I talk to Zac Prince and Flori Marquez, the co-
founders of BlockFi, a bitcoin financial services business. We discuss how they
manage high volatility, operating as a custodian and the state of the Bitcoin
market.
