"Securities" by Lux Capital: Vaporware skepticism

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Danny Crichton
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First, there are the increasingly dashed hopes of the crypto community, whose ambitions for a decentralized and ungoverned financial system look progressively distant. This week, Sam Bankman-Fried of FTX (a Lux portfolio company) salvaged decentralized lender BlockFi with a $250 million loan in the h...

First, there are the increasingly dashed hopes of the crypto community, whose ambitions for a decentralized and ungoverned financial system look progressively distant. This week, Sam Bankman-Fried of FTX (a Lux portfolio company) salvaged decentralized lender BlockFi with a $250 million loan in the hopes of avoiding further cascading failures across the DeFi ecosystem. That’s just a week after SBF also bailed out cryptocurrency platform Voyager Digital with nearly $500 million of loansfor the same purpose.

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Josh Wolfe 4mos

Excellent piece worth reading or revisiting (inspired by Neal Stephenson…) “VAPORWARE SKEPTICISM”––by @DannyCrichton