Cryptocurrency News

Shadow Defy Conference in Miami! June 2-9


Last week, I made the mistake of being the only DeFi citizen who actually went to the Bitcoin 2021 event in Miami.

While I managed to catch up with a handful of builders and big minds at the convention center, my time would be better spent tracking down degens at various satellite events, yacht parties and nightclub meetups – the “shadow conference” to take DeFi. While boomercoin maximalists have spoken out on the same points they have been parroting for the better part of a decade.

However, the little time I got to spend with the people at DeFi was very rewarding. I came away from conversations with representatives from Sushi Swap, Ear Finance, Balancer, Polygon, the Digital Dollar Project, and FTX, along with some useful kernel information on how decentralized finance might evolve in the latter part of the year. While the full interviews are due out next week, here’s a summary of what I’ve gathered in the meantime:

Risk and regulation:

While there seems to have been institutional adoption In college With years out on the horizon, there is growing reason to believe that big investment bank money may finally be moving around in the very first DeFi pool.

As things stand, everyone I spoke to is unanimous about firms showing genuine interest in finding ways to get involved, but not everyone is sure exactly what this looks like or how it should be handled by regulatory and regulatory authorities. How to terminate from the point of view of custody.

FTX and Alameda Research’s decapillionaire Sam Bankman-Fried (who notably had no security guards, despite bitcoiners being orders of magnitude less like Sailor roamed around with a mobile rugby scrum — or, wait, maybe Sam Very good The security guard in which I never saw them?) described the dynamic as similar to that of a college couple, with one party “waiting” for the other.

Sam Banksman-Fried, who was taking the victory lap between TSM and Heat Arena…Darth Vader felt fit.

“We’re going to be ready, we’re going to feel it, a lot of conversation, a lot of open talk about our feelings and desires,” he joked.

From their perspective, FTX is ready to flip an “on” switch and provide a gateway to whatever service institutions they want. However, the work feels more like an exercise in empathy than business: it involves lengthy conversations about what institutions want, in fact—higher yields, exposure and custody on the dollar, than someone to meet client demands. Kind of on-ramp – but when customers say “we want to do crypto work,” what do they mean and what’s actually possible? Everybody has questions. Everyone is in their feelings. For now, Progress largely looks like a firm on an exchange and trading some crypto.