11-20-2021, 02:07 AM
ADOPTION: The richest person in crypto chooses DeFi over banks for funding
<!-- SC_OFF --><div class="md"><p>Sam Bankman-Fried who is the CEO of Alameda Research has chosen to cut out banks and borrow up to $1bn of new money for expansion straight from DeFi.</p> <p>The loan will be taken in stablecoins from a DeFi platform called Maple Finance.</p> <p>It's a huge deal because it's the first time where such a high profile company cuts out banks and other intermediaries from arranging the new financing and goes to DeFi instead.</p> <p>That's how banks make their money, so imagine when many other big companies start doing this. It will be a huge test for DeFi, but I think it's very exciting.</p> <p><a href="https://www.ft.com/content/308a473c-47be-4175-a0c3-b1661bf94ebc">Source</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TryingToMakeAMil"> /u/TryingToMakeAMil </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qxbosh/adoption_the_richest_person_in_crypto_chooses/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qxbosh/adoption_the_richest_person_in_crypto_chooses/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Sam Bankman-Fried who is the CEO of Alameda Research has chosen to cut out banks and borrow up to $1bn of new money for expansion straight from DeFi.</p> <p>The loan will be taken in stablecoins from a DeFi platform called Maple Finance.</p> <p>It's a huge deal because it's the first time where such a high profile company cuts out banks and other intermediaries from arranging the new financing and goes to DeFi instead.</p> <p>That's how banks make their money, so imagine when many other big companies start doing this. It will be a huge test for DeFi, but I think it's very exciting.</p> <p><a href="https://www.ft.com/content/308a473c-47be-4175-a0c3-b1661bf94ebc">Source</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TryingToMakeAMil"> /u/TryingToMakeAMil </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qxbosh/adoption_the_richest_person_in_crypto_chooses/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qxbosh/adoption_the_richest_person_in_crypto_chooses/">[comments]</a></span>Kind Regards R