16min chapter

Against the Rules with Michael Lewis cover image

Judging Sam: Michael Lewis Talks Money with Matt Levine

Against the Rules with Michael Lewis

CHAPTER

Decentralized Finance and Yield Farming

This chapter delves into the concept of yield farming in decentralized finance, explaining the process of earning profits by putting money and tokens into a box and selling the tokens. The controversial statement made by Sam Bankman-Fried, referring to decentralized finance as 'Ponzi-ish', is also explored alongside his competition with the traditional financial system. The chapter further highlights the foreshadowing nature of a hypothetical trade and its resemblance to the actions of FTX, as well as featuring sponsor ads from HSBC Innovation Banking and IBM Watson X.

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