Terrance Yang, from Swan Bitcoin, believes that the crypto industry can prevent the Cantillon Effect by creating large “Bitcoin only” companies that can negotiate with major financial institutions and the U.S. Federal Reserve. Yang thinks that the recent settlement between the U.S. Department of Justice and Binance has increased the chances of such an institution joining the negotiation table.
'Bitcoin Only' companies at the negotiating table can counter the 'Cantillon Effect,' says Swan Bitcoin MD
Establishing significant "Bitcoin-only" companies can counteract the Cantillon Effect, says Swan Bitcoin MD Terrance Yang.
He argues that for fair representation at the…
— Shandi Gouker (@ShandiG5049) November 28, 2023
The Cantillon Effect: How Unequal Distribution of Money Affects Wealth and Inflation
Bitcoin exchange platform Swan Bitcoin’s Managing Director (MD), Terrance Yang, has come out in defence of creating “Bitcoin-only” companies. He believes that this is the only way the crypto industry can have fair representation at the negotiating table.
Yang cited the recent settlement between the US Department of Justice (DOJ) and Binance as increasing the chances of such an institution joining the negotiations.
Milei Explains – The Cantillon Effect 🔥 pic.twitter.com/mGQOHHqmB9
— Charles Lajoie 🗽☢️🔰🏗 (@lemechantneolib) November 27, 2023
Swan Bitcoin’s co-founder and CTO, Yan Pritzker, has also emphasized the need for the crypto industry to fight back against opponents who have increased pressure in recent years.
In his Nov. 11 post on X (formerly Twitter), Pritzker suggested that the crypto industry should create companies big enough to be relevant negotiators. This would help them achieve fair representation at the negotiation table.
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Yang believes that Bitcoin-only companies can fill the “void” created when authorities go after large crypto exchanges like Binance and Coinbase. He also suggests that some players may not be doing enough to counter false crypto narratives, possibly because they have an incentive to spread them.
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