E106: Infinex Founder: Why Crypto Is BROKEN in 2025 (beware of this)
Jan 25, 2025
auto_awesome
Join Kain Warwick, co-founder of Synthetix and now leading Infinex, as he discusses the broken incentives in crypto and his mission to reshape this space. He shares insights on the flaws in current market structures and the need for self-custody. Kain also delves into the dangers of clout-chasing and celebrity coins, while pondering the future of NFTs. With candid reflections on overcoming addiction and navigating the volatile crypto market, this conversation offers a blend of personal growth and industry innovation.
Kain Warwick discusses the need for a comprehensive platform like Infinex to address past failures and enhance user engagement in crypto.
His personal journey of overcoming addiction highlights the importance of introspection, linking personal growth with professional responsibility in crypto.
The podcast emphasizes the need for better education around decentralized finance to combat regulatory challenges and foster financial freedom in the industry.
Deep dives
Infinex as a Solution to Crypto Challenges
Infinex aims to provide a more effective way to engage with the cryptocurrency market by serving as a comprehensive platform for storing and trading over 1,000 crypto assets. The CEO expresses a keen sense of responsibility to correct past mistakes made within the crypto space, highlighting how earlier incentives may have led the industry astray. The conviction behind Infinex stems from a recognition that many enthusiasts were left behind during previous market cycles and that addressing this gap could help drive mass adoption of crypto technology. Through Infinex, the plan is to cater to users who want both ease of access and advanced functionalities, making the overall crypto landscape more user-friendly and inclusive.
Personal Transformation and Professional Motivation
The speaker discusses his journey of transformation after overcoming substance abuse, detailing how achieving sobriety changed his perspective and self-awareness. Previously driven by dark motivations rooted in addiction, he now finds satisfaction in productivity and familial engagements. Establishing a balance between personal fulfillment and professional goals has become crucial, illustrating how maintaining focus on difficult tasks brings him satisfaction. This shift underscores the importance of introspection and the belief that personal struggles can inform professional drive, aiming to foster a responsible and resilient crypto community.
The Downfall of Previous Crypto Cycles
In the past, many individuals within the crypto space have suffered significant financial losses, leading to a widespread sense of distrust. The speaker emphasizes that a considerable number of people may never return after experiencing the fallout from failed projects and exchanges. This ongoing trauma continues to shape the attitudes of many enthusiasts who had previously invested their resources. The importance of addressing these past failures is framed as crucial to re-engaging lost users and highlighting the value of transparency in rebuilding trust within the crypto ecosystem.
The Importance of Education in Crypto
A profound concern is voiced regarding the industry's failure to effectively educate regulators and potential users about the benefits of decentralized finance (DeFi). Although initial efforts were made by industry leaders to advocate for DeFi, the realization that some regulators seek to suppress innovation poses a hurdle. This dynamic reinforces the notion that educational initiatives must evolve beyond mere information-sharing to actively combat regulatory resistance. The speaker insists that preserving financial freedom is paramount, stressing the role of decentralized technologies in maintaining that freedom amid increasing scrutiny.
Reevaluating Financial Structures
The conversation shifts to the complexities of current market structures, proposing that existing financial frameworks often perpetuate inadequate equilibria that hinder growth and innovation. The speaker argues that many promising projects struggle to secure necessary funding due to state of the art venture capital dynamics and regulatory constraints. This vicious cycle creates substantial barriers for new ideas, keeping them trapped in an ineffective development phase. Identifying ways to break down these barriers is central to revitalizing the crypto ecosystem and creating more favorable conditions for innovation.
The Lasting Appeal of NFTs and Human Nature
Despite skeptics questioning the viability of non-fungible tokens (NFTs), they are defended as fundamentally linked to human behavior, namely the desire to collect and appreciate rarity. This acknowledgment affirms that periods of speculation and market cycles are intrinsic to human nature and will continue in varying forms. The speaker argues that as long as humans retain their innate inclination towards collecting, the NFT market will endure. Thus, narratives asserting a permanent decline in this space fail to account for the long-term allure of such digital assets.
In this episode, I sit down with Kain Warwick, co-founder and former CEO of Synthetix who's now building Infinex, the crypto everything app.
After stepping away from Synthetix and overcoming his struggles with addiction, Kain shares raw insights about DeFi's broken incentives and his mission to fix crypto's biggest structural problems.
This episode covers:
• Traits of Successful Crypto Founders
• Why Crypto's Market Structure is Broken
• Celebrity Coins & Clout Chasing
• Do NFTs Still Make Sense?
• Fixing Crypto Market Incentives
• Why Some Founders Quit
• Is Freediving Worth the Risk?
• Building Businesses Amid Addiction
• Prediction for the Next 12 Months?
& much more!
__________________________________
PARTNERS
💳 Trezor is the safest cold storage wallets for crypto security and financial independence.
Buy your Trezor Wallet: https://affil.trezor.io/aff_c?offer_id=133&aff_id=35356
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana.
https://jup.ag/
💧Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible.
https://sui.io/
🤖 SwissBorg is Europe’s top trusted crypto app offering user-centric investment platforms and DeFi asset management with reliability and innovation.
Sign up with this link and earn up to €100 : https://join.swissborg.com/r/kevinH6E7
♾ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.
https://www.coinsilium.com
🔘 Mantle Network enhances dApp development with Ethereum's security, low fees, and quick transactions through innovative layer-2 technology. Users can stake ETH for mETH, contributing to a transparent, community-driven ecosystem governed by $MNT token holders, fostering innovation and collaboration.
https://www.mantle.xyz
__________________________________
FOLLOW KAIN WARWICK
• Twitter: https://x.com/kaiynne
• Twitter: https://x.com/infinex_app
• Website: https://infinex.xyz/
FOLLOW KEVIN & WHEN SHIFT HAPPENS👇
Twitter (X): https://x.com/KevinWSHPod
Instagram: https://www.instagram.com/kevinwshpod/
TikTok: https://www.tiktok.com/@kevinfollonier_
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://www.podpage.com/when-shift-happens/
__________________________________
DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
#Entrepreneurship #Crypto #news
__________________________________
0:00 Trailer
1:31 Partnerships
2:31 Traveling With My Family
4:25 Taking DeFi to the Next Level
5:56 Who is Kain Warwick?
7:22 Stage One Success, Stage Two Realization
10:10 Trezor Partnership
11:03 Why Some Founders Quit
17:25 Traits of Successful Crypto Founders
23:22 Freediving: Passion and Discipline
29:03 Is Freediving Worth the Risk?
34:04 The Danger of Consensus Thinking
42:16 Tokens vs. Tokenless Protocols
47:24 Celebrity Coins & Clout Chasing
52:43 Why Crypto's Market Structure is Broken
1:03:49 Fixing Crypto Market Incentives
1:05:13 What is Infinex?
1:08:18 Lifelong Believers vs. Casual Investors
1:09:35 Do NFTs Still Make Sense?
1:12:35 The Pudgy Penguin Effect
1:14:10 Life Beyond Financial Milestones
1:15:45 Dealing with Drug Addiction
1:22:41 Building Businesses Amid Addiction
1:26:20 Happiness After Addiction
1:28:56 Happiness and Fulfillment
1:34:04 Prediction for the Next 12 Months?
1:39:03 Concluding Remarks
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
