This podcast episode discusses the recent $1.5 billion hack of Bybit, the largest in crypto history, analyzing the event's impact and the industry's response. The hosts and guests debate whether the immediate crisis is over, exploring the sophistication of the hack and Bybit's transparent handling of the situation. Further discussion covers the broader crypto market malaise, attributing the current sell-off to a risk-off sentiment across various asset classes, rather than solely to the Bybit hack. The panel also touches upon Solana's recent struggles and the potential impact of Citadel's entry into crypto market making. Ultimately, the discussion highlights the evolving nature of crypto custody and the need for both self-regulation and stronger regulatory frameworks.
