“There's no such thing as a price of an asset. It's a construct. People go, 'Oh, what's the price of Bitcoin?' Depends on how much you have. Depends on how motivated you are. The price of Bitcoin during a hack is not the same as the price of Bitcoin not during a hack, because you have a motivated seller that is willing to sell.”
Unchained · Crypto & Web3 · November 2026
Context
Another guest had just said price feeds are presented as the 'true' price of an asset. Kain Warwick, who has built oracles, argues the idea of a single price was never accurate, in a discussion of the Binance hack.
Transcript
Yeah.
…because we have access to exchange data from multiple exchanges. We can do an aggregation method and it's pretty straightforward. But we're starting to see with more sophisticated or more novel kind of collateral types that are coming on chain now that this assumption is starting to change. It's
always been wrong, man. Like it's always been wrong. There's no such thing as a price of an asset. That's like it's a construct that like people don't they like, oh, what's the price of Bitcoin, right? Depends on how much you have. Depends on how much you have. Depends on how motivated you are, right? The price of Bitcoin during a hack is not the same as the price of Bitcoin not during a hack, right? Because you have a motivated seller that is willing to sell and therefore, you know, just saying like, oh, yeah, it's mid-market on Binance or whatever, right? Like what happens if Binance is having a bad day? So I think it's never, it's unfortunately never been that simple. Anyone who's built an Oracle know, you know, you go down a rabbit hole really quickly. You're like, oh, you just like point at that price. CoinGecko, those guys are pretty accurate. And it's like, no, no, well, hang on a second. Like, what's the latency on CoinGecko? Oh, it's 15 minutes. Okay. Well, so it's the price 15 minutes ago. But like it's it's unending, as I as I know you know, right? But like it's not a trivial thing to know about the…
And with uh and I'm starting to get towards uh the novel asset class that's that's becoming popular lately. So tokenized stocks are the latest craze. Yeah. And they've been coming to Aave. So we we have a tokenized stock instance on base chain that just deployed two months ago. And this asset class…
when we first launched WTI, right? Like this is hilarious, right? So like Chainlink and Synthetix, when we were first launching our crude oil prices, right? You got Brandon W. I kind of
remember that actually. Yeah.
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