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Im a traditional finance guy and I was wrong

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by COINS NEWS 139 Views

I always thought crypto and defi was the wild west. An unregulated arena for shady people to anonymously make money. I couldn't have been more wrong. Its obvious now that defi is far more transparent, accountable, and far less likely to be abused like what is happening in the traditional finance ecosystem. Im all in on crypto after seeing the BS that goes in the private equity world. Loans with little to no collateral are handed out to fund projects that dont have the slightest chance of turning a profit anytime soon. It's all a make believe world to make the big guys rich on paper. Worst of all I feel like I'm contributing to a toxic system. Im getting out now and figuring out something else to do that actually contributes to a positive future for humanity. One or two more big crashes from a glutinous debt full traditional party and the rest of the industry will hopefully start to wake up.

*** whats going on with Tether is eerily familiar to traditional finance greed and is a threat to crypto's reputation and the future it promises ****

submitted by /u/moonmonster0
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