***This is the weekly brief I sent to subscribers of the Crypto is Easy newsletter.***
Last week, more DeFi ponzis collapsed, KuCoin got hacked, a Bitmex leader got arrested (others fled), and US regulators cracked down more crypto projects.
What do I think about this? Watch this video:
While these events matter, until they undermine people’s belief in this asset class, we don’t have to worry about them. Interest in the technology continues to grow, as does interest in putting money into it.
On that note, tap this button below to check out videos from “Reimagine 2020—WTF is DeFi,” a three-day event full of interviews with major DeFi projects and leaders.
These videos feature representatives from pretty much every big project and showcase the potential of DeFi to produce real value, not just rug-pulls and meme tokens.
Read this article about a company bridging the gap between crypto and “the real world.”
Bottom line: a Binance subsidiary will offer the Compound lending protocol on a credit card. No technical expertise is necessary.
My take: this is the natural evolution of DeFi. Today, bad UX, schemes, and buggy protocols. Tomorrow, everybody will use DeFi tools for their financial needs, embedded in common experiences.
Why we care: tremendous value will accrue to anybody who can use DeFi protocols to serve real-world needs, even if that value does not necessarily flow to DeFi tokens themselves.
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Relax and enjoy the ride!
Mark Helfman publishes the Crypto is Easy newsletter. He is also a top writer on Medium for bitcoin. His books, Consensusland and Bitcoin or Bust: Wall Street’s Entry Into Cryptocurrency, explore the social, cultural, and business challenges of cryptocurrency. Learn more about him in his bio.