A group of crypto execs advising the CFTC met for the first time in a two-and-half hour long discussion on DeFi, so what did they talk about?
“We’ve reached a point in time where we can no longer ignore decentralization,” Andrikogiannopoulos said. “Not only do we have to embrace it, but I think it’s our duty to lead it in the right direction.”
Redbord highlighted the amount of value that entered DeFi in the last two years, saying it was “stress tested during FTX [...] and did not fail. DeFi is absolutely here to stay.”, rising from around $15 billion at the beginning of January 2021. Carole House, executive in residence of venture firm Terranet Ventures and Jill Gunter, CSO of blockchain infrastructure company Espresso Systems then provided an overview of the current solutions for digital identity and non-custodial wallets, using respective examples of the Ethereum Name Service and a MetaMask wallet.Fireblocks founder, Michael Shaulov and Trail of Bits founder, Dan Guido then presented on the exploits and vulnerabilities that have, and continue to, take place in the market.
“All the hacks, they are extraordinarily public and it’s usually your users and other outside firms that find out about them before you do,” Guido remarked which he said instills a “need for perfection” in crypto firms.
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