Kara Calvert, Coinbase's US policy director, also said recently, "

However, TEEs are currently the most efficient at executing smart contracts among the three solutions, simply because the model is hardware-based.

The term "whale" became popular as early Bitcoin adopters, miners, and investors (e.g. Satoshi Nakamoto, Winklevoss Twins, F2Pool, Mt. Gox) accumulated large amounts of Bitcoin.

If the platform fails to effectively protect the security of user accounts, there is indeed a possibility of large-scale account theft.

Maybe the Trump market sell-off happens in mid-December 2023 to late 2024 instead of mid-January 2025.

Undoubtedly, this is the largest potential source of cash flow in the entire space. Since Ethena's launch, the spread has grown over threefold.

Martin North

@martinnorth