Cryptocurrency Transformation of a Wall Street veteran After former Morgan Stanley CEO Kevin Lepsoe launched a new platform for Decentralized Finance (DeFi). His new company, Infinity Exchange, has received a nice injection of seed funding in an effort to boost DeFi adoption among enterprises. In his pledge to help build DeFi 2.0, Lepsoe described one of DeFi 1.0’s biggest pain points — and you’ve probably never heard of it. As it turns out, if you want organizations to adopt your products and services, you need to give them a product set they are familiar with. Until then, DeFi offers a value proposition that is masked by risks and inefficiencies.
This week’s Crypto Biz newsletter explores Lepsoe’s solution to DeFi risks. We also analyze the latest news related to MicroStrategy and Fireblocks.
Fixed interest rates to create DeFi 2.0 for enterprises, says ex-bank CEO
Lepsoe’s Infinity Exchange has raised $4.2 million to continue building an institutional fixed income protocol that introduces a floating-rate concept with a zero bid. In other words, Infinity Exchange is trying to bring the interest rate mechanisms and risk management practices of traditional finance to DeFi. According to Lepsoe, providing institutional investors with access to a full suite of priced products, including fixed to variable rates, could be key to boosting DeFi adoption. Although most of us know Boom and Boom Cycles in DeFiThe biggest challenge for the sector, Lipso said, is the disconnect between floating interest rates and fixed rate markets. It’s not entirely intuitive, but it’s compelling, nonetheless.
MicroStrategy to Reinvest $500 Million in Stock Sales in Bitcoin File: SEC
Business intelligence firm MicroStrategy of Michael Saylor plans to buy more Bitcoin (BTC), which, at this point, shouldn’t surprise anyone. In a recent filing with the US Securities and Exchange Commission, MicroStrategy revealed a partnership with dealers Cowen and Company and BTIG to raise $500 million through the sale of shares, with proceeds directed toward acquiring more BTC. The business intelligence firm is doubling down on Bitcoin’s maneuverability despite dropping more than $1 billion in its current position. With BTC swinging around $20,000 and with Analysts expect more downside In the short term, will MicroStrategy really buy the dip this time around, or will the price keep dropping after the buy?
MicroStrategy is set to reinvest to buy the dip as the company’s reserves suffer a total value loss of $1 billion. https://t.co/rr8eqW7Xen
– Cointelegraph September 10, 2022
Institutional investors headed to a turning point in cryptocurrency: Apollo Capital
Remember when investing in cryptocurrency Considered an “occupational hazard”? Now, it seems that this is not the case Investing in digital assets carries the greatest reputational risk of all. What a difference each year can make. According to Henrik Andersson, CIO of Apollo Capital, institutional investors may soon “flip” their conservative approach to digital assets. In an exclusive interview with Cointelegraph, the crypto fund manager said that institutional interest in digital assets is slowly increasing. Some major institutions, such as pension funds, may be waiting for others to make the first move because no one wants to be first and be wrong. But once the door is wide open, a lack of customization will be considered an even greater occupational risk.
Fireblocks Reports Over $100M Profit in Subscriptions Amid a Bear Market
The crypto industry has Dozens of unicorns crowned Over the past two years, but how many of these companies have a viable business model? Fireblocks, the blockchain infrastructure provider, revealed that it generated more than $100 million in annual recurring revenue this year, which is a huge milestone given the current market situation. Web3 startups, payment service providers, consumer brands and game companies have all contributed to the massive surge in Fireblocks, showing that the blockchain industry is attracting consistent interest despite a bear market.
Do not miss it! Will the Ethereum merger change the history of crypto?
Ethereum merger is described as a Historic event for the blockchain industry As the largest smart contract platform, it is embarking on a major transformation in its management structure. While most traders focus on Ether (ETH) Price, there’s a lot at stake. Will the merger change the trajectory of the cryptocurrency industry that relies heavily on Ethereum? Or will it have little effect in the long run? In this week Market ReportAnalysts Marcel Bichmann, Benton Yeon, and Joe Hall discussed this very topic. You can watch the full replay below.
Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered straight to your inbox every Thursday.