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DeFi

Why the steepest borrowing rate may be the best rate

(This isn't a piece of financial advice. It's more of a fun parable about interest rates.) So here's an interesting financial ridd…

Stablecoins, meet 3% interest rates

The global rise in interest rates is finally beginning to percolate into the stablecoin sector. One of the effects of this rise is that centralized s…

Why stablecoins should not be regulated like Western Union

Here's an interesting bit of stablecoin trivia. Half of all Paxos stablecoins are currently lying inert in MakerDAO, a decentralized finance prot…

DeFi needs more secrecy, but not too much secrecy, and the right sort of secrecy

[Below is my contribution to CoinDesk's Privacy Week ]  The Privacy That DeFi Needs to Succeed The transparency of blockchains is often marketed…

Should central bankers be afraid of crypto?

As crypto continues to move into the public's consciousness, curious people who aren't familiar with it often ask me if central bankers at th…

Tornado.cash and money laundering

All Ethereum transactions can be tracked. But there is a neat little tool that lets you remove this traceability: Tornado.cash . Alice submits her Et…

The dangers of stablecoin lending

These days I see many do-it-yourself investors comparing the huge yields they can earn on stablecoin lending to the tiny yields on bank accounts. …

Is DeFi unregulatable?

Government's can't regulate DeFi, can they? It's too wild and uncontrollable. DeFi, or decentralized finance, is the set of anarchic fin…

Tether, a bigger badder PayPal

My recent article on Tether, a stablecoin, was just published at Coindesk. In the article I commented on Tether's recent settlement with the Ne…

Why the discrepancy?

Vitalik Buterin had a thought-provoking tweet a few days back about interest rates. Lending DAI to Compound offers 11.5% annual interest. US 10 year …

Revisiting stablecoins

Source: Gravity Glue (2014) Cryptocurrencies were supposed to destroy the traditional monetary system. Ten years on, where are we? Bitcoin has been …
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