Day 1 of CMC’s The Capital: Top 5 Things That Happened

The first day of CoinMarketCap’s inaugural two-day conference, The Capital, fittingly ended with a conversation about the future potential — or lack thereof — of the top 100 crypto projects.

In case you missed that panel or any others, we selected the highlights from all of today’s conversations for you.

Day one of The Capital conference by CoinMarketCap is over — here are five main takeaways:

  1. CoinMarketCap released their new liquidity metric to combat inflated volume reporting by crypto exchanges.
  2. Secretive CMC founder Brandon Chez and proof-of-stake inventor Sunny King discussed the consensus algorithm wearing masks and capes (plus with distorted voices).
  3. A delicious Italian-themed lunch was served with the overwhelming smell of truffles wafting from the risotto — the industry must be doing pretty well!
  4. TechCrunch and XRP Capital founder Mike Arrington called the crypto industry “sick” (not in the good sense).
  5. Finance app Circle’s founder and CEO, Jeremy Allaire, said that what many call the 2017 ICO “bubble” was actually “really interesting” because “we got a glimpse of what internet-based capital markets could look like.” He also said other important things in an exclusive interview with The Capital backstage.
  • Bonus takeaway! Binance held a “super meetup” after the conference with a brave, honorable knights-themed intro video. Earlier in the day, Binance CEO Changpeng Zhao (or “CZ”) spoke with The Capital backstage about liquidity and being a public figure in crypto.

Here are the best (we think) quotations from today’s speakers:

It’s a chicken and egg situation. The chicken has to come out of the egg and the egg is cash.”

Marius Jansen, co-founder and COO, Derbit

The history of humanity is the history of risk management.” 

Kevin Talbot, head of capital markets, Delchain

Nothing here succeeds without customers and revenue, and most cryptocurrency projects are businesses like any other.”

Dave Balter, CEO, Flipside Crypto

We fall short in the [blockchain] industry in determining what the real pain points are.”

Matthew Spoke, founder and CEO, Open Foundation

Trading is actually a trader’s game and it really has nothing to do with fundamentals.” 

Mike Arrington, partner, Arrington XRP Capital, and founder, Techcrunch

In China, people like Bitcoin, while in America, people like Ethereum. And so far, China is right.”

Bo Feng, Dragonfly Ventures