Bankless DeFi Didn't Break with Dan Morehead & Joey Krug
Jul 27, 2022
Dan Morehead, Founder and CEO of Pantera Capital, and Joey Krug, Co-CIO of the same firm, dive into the resilience of DeFi amidst recent crypto turmoil. They discuss how DeFi's self-correcting nature contrasts sharply with the failures of centralized finance. The duo critiques mainstream media narratives, advocating for better education and transparency in the DeFi space. They also explore how DeFi could have potentially prevented past financial crises and highlight the importance of ethical regulation to maintain financial stability.
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Crypto's 2008
- The 2008 financial crisis mirrors the recent crypto lender failures.
- Both involved opaque centralized entities with excessive leverage and cascading liquidations.
Misrepresenting Crypto
- Mainstream media wrongly blames DeFi for the CeFi collapse, misrepresenting crypto's vision.
- This confusion stems from grifters exploiting crypto ethos while building old systems with new branding.
CeFi vs. DeFi Confusion
- Mainstream media often conflates CeFi and DeFi, potentially driven by incentives to protect traditional finance.
- This confusion muddies the waters, making it harder for legislators and the public to understand the distinction.