Proof of Work: DeFi needs a little more “De”

Benjamin Friedrich | The Block

Quick Take

  • SEC action has been against projects that are “obviously bad” and I don’t think this breaks that mold—that said, I’ve heard there are more worse things in the pipeline
  • Many projects may end up moving to a friendlier jurisdiction over regulatory concerns
  • The fact that jurisdiction still matters means that “defi” projects aren’t sufficiently decentralized yet, however a combination of projects in the pipeline may make these concerns moot
The following newsletter is republished with permission from Eric Meltzer of Primitive Ventures, a global venture investment firm with a focus on blockchain and related technologies. You can follow Eric on Twitter at @wheatpond and subscribe here to Proof of Work.