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Lorenzo Valente says crypto hacks act as a hidden trading tax

NewsFeeds update

ARK Invest's head of digital asset research, Lorenzo Valente, says crypto hacks amount to a hidden trading tax and cost of storing value, passed on to users much as retail theft is priced in. He cites average annual losses of 24 basis points of market value since 2018, against 1.7 basis points for US bank fraud.

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Read the original on Odaily

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