When Shift Happens Podcast
E116: CoFounder of Sonic Labs: Why He Gave Away Billions in Crypto (and now completely regrets it)
Apr 10, 2025
Andre Cronje, DeFi pioneer and co-founder of Sonic Labs, opens up about his journey in the crypto world. He shares the bold decision to give away 100% of his tokens while building Yearn Finance and reflects on how this impacted his trust in others. The conversation dives into the challenges of regulatory pressures, his evolving views on crypto incentives, and the need for new approaches in the blockchain landscape. With insights into his experiences with online fame and community-driven innovation, Andre's story is as captivating as it is thought-provoking.
01:03:33
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Quick takeaways
- Andre Cronje's experiences with the SEC have profoundly altered his perception of trust and human behavior in the crypto world.
- Sonic blockchain's impressive capacity of 400,000 transactions per second represents a notable advancement in addressing prior technological limitations.
Deep dives
SEC Investigation and Response
The speaker outlines the tension and urgency felt during interactions with the SEC, which became increasingly demanding in their requests for information. Faced with the threat of extradition for non-compliance, the speaker expressed a fear of the potential repercussions, emphasizing the seriousness of the situation. Despite the initial belief that providing information would resolve the issue, the ongoing nature of the inquiries led to feelings of uncertainty and anxiety regarding the secure conduct of their business. The speaker's proactive engagement with legal counsel helped guide their responses, but the stress of the situation underscored the risks inherent in the industry.
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