This episode is sponsored by Roofstock on chain.

Money is changing. So where do we go from here? Through high-profile interviews and thought-provoking

analysis, join Michael Casey and Sheila Warren for the Money Reimagined podcast as they explore the

connection between finance, human culture, and our increasingly digital lives.

And just a reminder, CoinDesk is a new source and does not provide investment advice.

And now, here's Michael Casey.

Hello and welcome to Money Reimagined. I'm Michael Casey.

The crypto domino effect this past month has been

nauseating for many who've dedicated their lives to this industry. It's also forcing them to ask

deep questions about what went wrong. How could companies valued in the tens of billions of dollars

a few months ago suddenly be worthless? Was everything that came before the FTX moment

a mirage, nothing but a shell game, Ponzi scheme? I for one continued to believe that the core

technology underpinning Bitcoin, Ethereum and other protocols has enormous potential to address

many of humanity's biggest challenges, or at least give us a fresh framework for looking at them.

I remain convinced that when the decentralized governance promised by blockchains is targeted

at areas where centralized entities have too much power over our lives and businesses,

it can set a path toward a fairer, more open and innovative economy.

But before we even begin to convince the outside world that

there really is value here, we're all going to have to go through some real introspection.

That process has begun, and already it's becoming apparent that mostly what led us down was

not a failure of the technology per se, but a failure of human beings. We've all heard the refrain

from people within the industry, FTX, Celsius, three arrows, et al, were all C-Fi problems,

...