Empire

Can Crypto Find a New Narrative? | Haseeb Qureshi & Tom Schmidt

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Jun 13, 2022
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INSIGHT

Crypto's Dependence on the Fed

  • Crypto's correlation with growth assets is historically high, impacting its performance.
  • Crypto has only existed in low-interest-rate environments, making its future in a high-rate environment uncertain.
INSIGHT

DeFi's Shift in Focus

  • DeFi's primary focus has been on leverage and reflexivity, creating a self-contained financial system.
  • Real-world lending and financing services, like Maple and Goldfinch, are gaining traction in the bear market.
INSIGHT

Debt Financing in Crypto

  • Debt financing has been historically nonexistent in crypto, outside of miner financing.
  • Convertible bond issuances, like the Ribbon-Porter Finance deal, could unlock debt financing for DAOs.
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