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Hi there,
I have to admit that I was dozing off while watching the uneventful Singapore F1 race last Sunday. It sucks that the track isn’t friendly for overtaking, and the downpour before the race slowed things down.
But I definitely noticed the sheer number of crypto brand logos plastered all over the cars and driver’s suits.
The F1 week was no doubt a huge flex for Singapore. Glamorous selfies with the rich and famous were abundant, and champagne bubbles were aplenty even as the broad crypto bubble popped.
Crypto winter be damned, a massive crowd also turned up at this year’s Token2049. There was no shortage of star power, with Daniel Ricciardo, the soon-to-be-jobless F1 driver with a big smile whose team is sponsored by OKX, speaking at the conference (even if, according to one colleague, he said nothing of substance).
In this week’s premium story, I touched briefly on how Singapore will remain relevant in decentralized finance even as the country shuns the retail trading of crypto.
But the article’s broader theme is how DeFi is entering its second age. No longer catering to just gamblers and degens, it’s donning a suit and pursuing the real whales: financial institutions.
Enjoy!
– Terence
The big story
Image credit: Timmy Loen
The crypto winter may have caused folks to lose a lot of money, but it’s also helping DeFi grow up. We look at what’s bubbling under the surface.
⭐ To the stars
A look at what’s pushing Web3 forward
🌙 To the moon
🌏 Back to earth
Still a ponzi scheme
More to chew on
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