E147: Paradex CEO: Why Crypto Exchanges Are Replacing Wall Street (it's already happening)

In this episode of "When Shift Happens," Anand Gomes, CEO and co-founder of Paradigm and Paradex, discusses the evolution of decentralized exchanges (DEXs) and their potential to become the new systemically important financial centers. He explains how Paradigm, an institutional options exchange, led to the creation of Paradex, a zero-fee decentralized perpetual exchange built on its own blockchain. Anand argues that DEXs are becoming unified platforms encompassing banking, brokerage, and asset management, and highlights the importance of speculation for price discovery and capital formation. He also touches on the challenges of running crypto exchanges, the need for constant vigilance, and the importance of adapting to the changing landscape to avoid irrelevance.