Thread by @Melt_Dem

in the last six months, @binance has:
* set up shop in 🇧🇲 (bermuda), 🇯🇪(jersey), 🇲🇹 (malta)
* quadrupled (4x) users on platform
* announced a billion dollar ($1B) ecosystem fund
* fought a big name VC (@sequoia) and won

revolution (@binance) v evolution (@coinbase)

in the coming months and years, i expect we’ll continue to see a bifurcation between companies who choose to operate under restrictive regulatory and licensing schemes to build a competitive moat by spending dollars on legal and lobbying

and those who choose to build in more permissive, open regulatory environments and compete on price, platform, and product, but incur the ire of global regulators and law enforcement.

not a criticism of @coinbase or an endorsement of @binance - simply an observation of the two sides of the continuum that seems to be emerging for crypto infrastructure companies