DeFi Degens Are Crypto’s Suicide Squad

<p><span style="font-weight: 400;">Today on the Brief:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Traditional markets falter, led down by tech stocks</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Bitcoin falls under $11,000 for the first time since July</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Stablecoins mint $100m daily since mid-July</span></li> </ul> <p><span style="font-weight: 400;">Our main discussion is about DeFi’s “degens.” NLW talks about:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">The numbers behind DeFi’s recent run up</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">What “degen” means in this context</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why degen is in part a reaction to previous bitcoiner critiques of Ethereum </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why degen is (in even bigger part) a reaction to a no-yield, artificially low interest world</span></li> </ul>