BitGo CEO: Failure of Clarity Act exposes U.S. market to systemic risk

PANews reported on October 2 that according to The Block, BitGo CEO Mike Belshe warned that the failure of the Clarity Act has exposed the US market to systemic risks because the same company holds exchange, brokerage and custody businesses at the same time. He said that this structure is a risk that even Lehman Brothers did not have: a broker can fail, but the collapse of the exchange hosting the assets will bring down the entire market.