Crypto Could Reform Finance, or Collapse: Michael Lewis

• Cryptocurrency poses a threat to legacy finance, according to ‘Big Short’ author Michael Lewis.
• “A separate financial structure is being built alongside the old legacy financial structure,” Lewis told Yahoo. 
• But there’s still a chance that the “whole thing” collapses if people lose faith in crypto, he said. 

The decentralized nature of cryptocurrency is reshaping the traditional financial sector, but great uncertainty remains in the space, according to “The Big Short” author Michael Lewis. 

These days, Lewis explained, the Securities and Exchange Commission is responsible for a shrinking portion of the financial industry thanks to the rise in decentralized finance and cryptocurrency.

“A separate financial structure is being built alongside the old legacy…