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Jimmy Song, Jimmy Song, said that when money is abundant, the threshold for business ventures is low because the consequences of failing are less severe.
He added that when money is scarce, only business ventures that demonstrate a higher level of viability tend to get funded, often because entrepreneurs are using their own money.
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Song has previously argued that central banks could consider Bitcoin as stronger collateral than gold due to its lower settlement friction. He has also examined security issues in the industry, attributing the Binance hack to protocol and address format decisions. These earlier analyses address key concerns around risk and infrastructure in digital asset markets.