Part 7/14:
Saylor recounts how irresponsible risk—daisy-chaining leverage up to 40 or even 4000%—led to catastrophic failures, such as the Terra Luna collapse. These episodes underscored the industry's need for mature oversight, regulatory clarity, and institutional participation.
Over time, a paradigm shift began in late 2024, notably after the "red sweep" election results. The new political administration and regulators started embracing crypto, providing a supportive environment. The SEC and other agencies moved from hostility and skepticism to active recognition of digital assets as legitimate, sophisticated financial instruments.