CMC’s The Capital in Singapore: Top 10 Highlights

CoinMarketCap’s inaugural conference, The Capital, took place November 12-13 at the Victoria Theatre in Singapore. 

In case you weren’t able to come to Singapore, here are the top ten things that happened over the two-day conference.

The Capital has ended, here’s what you missed:

  1. CoinMarketCap announced a new metric for ranking exchanges — liquidity. The idea is that ranking by volume leaves room for foul play, since exchanges can easily report fake volumes.
  2. The Capital’s first act was an anonymous conversation between the secretive CoinMarketCap founder Brandon Chez and proof-of-stake inventor Sunny King. All that viewers could tell about Chez — who spoke through a voice distorter, wearing a mask and cape — is that he was a man holding a smartphone. Everyone knows Sunny King, but he was also disguised for good measure.
  3. The second day of the conference the same lunch was served as day one — truffle deja vu! Still delicious though. 
  4. Michael Arrington of TechCrunch and XRP Capital said crypto is a “sick industry.” We asked him to explain what we meant, here’s what he said. 
  5. Circle’s founder and CEO, Jeremy Allaire, said that what many call the 2017 ICO bubble was actually “really interesting” since “we got a glimpse of what internet-based capital markets could look like.” That’s a positive way of putting it, Jeremy! Check The Capital’s exclusive interview with Allaire where he talks about how crypto could make finance work 10x better.
  6. Binance held a “super meetup” after day one of The Capital where Binance CEO Changpeng Zhao (or “CZ”) announced the firm’s partnership with HTC to launch a blockchain smartphone, which will retail for $599. A total of six Binance Super Meetup attendees — sadly, not us — won free HTC phones during the event. 
  7. Jennifer Ilkiw from Intercontinental Exchange (ICE), Asia Pacific, which both owns the New York Stock Exchange and is the creator of digital assets platform Bakkt, spoke about the cash-settled Bitcoin futures contracts that will launch in Singapore on Dec. 9. 
  8. A conversation about user privacy sparked a heated debate about the existence of privacy today. Do you think privacy is still possible? Lina Seiche from BTSE thinks it is (see her quote below) while Nimrod Lehavi of Simplex made the comparison that it’s as rare as “unicorns.” Unclear if he meant a specific numerical valuation for a tech company, or an actual horse with a horn.
  9. Blockstream’s Samson Mow didn’t get to say as much as he could have during day two’s mining panel, but he got to expand backstage with us in an exclusive interview. He told us: “if you talk to any serious computer science person, they will tell you that proof-of-stake doesn’t really work because it is essentially perpetual energy.” Bold words.
  10. Spencer Yang, head of special projects at CoinMarketCap, predicted that the specially-commissioned artwork that every conference speaker signed could be worth a lot in 10 years, possibly as an NFT. Check back in 2029 to see if he’s right.  

Top quotes from The Capital speakers:

“Digital assets will become successful when my mother is using them and no one at my family dinner table at Christmas asks me what I’m doing at work.”

Jennifer Ilkiw, Intercontinental Exchange, Asia Pacific

Because of [its] position, when the U.S. sneezes, it kind of affects people elsewhere.”

Paul Atkins, former commissioner of the U.S. Securities and Exchange Commission, currently at Patomak Global Partners

“If the statement that there is no privacy gets any traction at all, then you are basically giving your government a free pass to destroy your privacy.”

Lina Seiche, BTSE