18.6 C
Amsterdam
21 September 2021
PumpMoonshot
Image default
News

Mike Novogratz Gives Shoutout to Ethereum Founder Vitalik Buterin, Claims He’s Playing Long Game


Vitalik Buterin’s criticism of DeFi projects earns praise from Mike Novogratz

In a praise-filled tweet, Mike Novogratz, the CEO of cryptocurrency merchant bank Galaxy Digital, says that he’s ‘constantly impressed’ with Vitalik Buterin, the Russian-Canadian programmer who co-founded Ethereum.    

Buterin, according to Novogratz, is trying to build something of ‘immense value’ while applying his long-term vision.  image by @novogratzR

DeFi projects may pose systematic risks 

Novogratz showed his admiration for Buterin after the latter picked holes in decentralized finance (DeFi) projects that represent a new frontier for Ethereum.

In Buterin’s opinion, there is too much emphasis on ‘flashy DeFi things’ that offer significantly higher interest rates than a traditional bank.

He further claims that they either offer short-term opportunities for arbitrage or fail to disclose some systemic risks.image by @novogratz

News Source



Related posts

Bitcoin: Price history of most popular cryptocurrency!

PumpMoonshot

Crypto lending rates are low and DeFi is not competition says Nexo co-founder

PumpMoonshot

Bitcoin Futures Funding Gets “Aggressively Bearish” as Traders Expect a Retrace

PumpMoonshot

Leave a Comment