Islamic finance principles could have averted Crypto collapse in 2022' | The Crypto Mile

On this week's episode of The Crypto Mile our host Brian McGleenon speaks to Junaid Wahedna, founder of investment platform, Wahed. This episode looks at the multitude of calamitous crypto-implosions of 2022, through the lens of Islamic finance. Wahedna described how Sharia-compliant wealth management and investing could have averted the dramatic collapses of Terra's UST algorithmic stablecoin, crypto-hedgefund Three Arrows Capital, and the once prestigious FTX exchange. The founder of Wahed bank highlighted the Islamic finance principles of no leverage, no speculation, no derivatives, and synthetic assets or instruments as key ways to avoid the boom and bust cycles that have been a dramatic fixture in the burgeoning crypto industry and part of the global financial system as a whole.