foobar on Twitter: Exchanges should not be in the business of credit creation. While tradfi banks can expand or contract the money supply, exchanges have no such power.
Source: https://twitter.com/0xfoobar/status/1592183723956572161
foobar on Twitter: Exchanges should not be in the business of credit creation. While tradfi banks can expand or contract the money supply, exchanges have no such power. There are only 19.2 million BTC, only 120.5 million ETH. Any supply changes emanate from the ground-truth L1 chains themselves.