What Multicoin Is Excited About For 2024
At the end of every year we come together and discuss some of the biggest changes we’re expecting in the year ahead. For the first time, we’re publishing these ideas. Please feel free to reach out to any of us to discuss these ideas further.
Custodia Bank presents "Exhibit BS" in its lawsuit against the Fed
A court battle between a novel bank that wants to do business in crypto and the Federal Reserve Board is coming to a head.
Zoom in: The central question in this case is whether a politically motivated Fed intervened in a process conducted by one of the reserve banks it oversees, wrongfully denying Custodia Bank a Fed master account.
Crypto's Three Body Problem
Crypto's animating purpose was to develop incorruptible institutions. However, various attempts to embed these structures in a broader social fabric, from DAOs to crypto-network states, have largely failed. We draw from Lawrence Lessig's legal theories to explain why. Protocol designers work with markets and code but frequently ignore the vital institutional functions served by social norms and the law itself. The absence of these regulatory functions considerably limits the forms of pro-social behavior that can be fostered or enforced.
Predictions
This is a list of high level statements, predictions and beliefs that relate to the concept of Onchain and to some extent crypto at large.
A lot of them—if not all of them—are consensus, obvious and nothing new. I'll likely add to this over time.
Cosmic Timing
I had a friend tell me earlier this year that she thought my “cosmic timing might be off.” What she meant, I gathered, is that I have a tendency to push my will on the world rather than to pause patiently for its signals to act. A normal thing for those of us in tech, I guess: a belief that the world is our canvas to write rather than read, to inscribe our utopias rather than assess our direr realities.
