ShapeShift CEO: DeFi, not Bitcoin, is the "most cypherpunk thing" in crypto

There are many segments of the crypto industry that do not respect the decentralized finance ecosystem of Ethereum.

He recently stated that DeFi is the most cypherpunk thing going on in the cryptocurrency space.

Look past the yams and unicorns, DeFi is the "Most cypherpunk thing happening in crypto".

Erik Voorhees, the long-time libertarian founder of crypto exchange Shapeshift, thinks that DeFi's decentralized exchanges and decentralized money markets are the "Most cypherpunk thing happening in crypto right now."

"When u look past the yams, unicorns, and cute gardening references, you'll discover that defi - decentralized exchanges and money markets in particular - are the most cypherpunk thing happening in crypto right now."

When u look past the yams, unicorns, and cute gardening references, you'll discover that defi - decentralized exchanges and money markets in particular - are the most cypherpunk thing happening in crypto right now.

On top of all this, DeFi is emerging as a key segment of the Bitcoin and crypto revolution as fiat money is being debased, Voorhees explained, making it kind of perfect timing how this is playing out.

Flipside Crypto reported on Oct. 13 that "$300 million worth of ETH and WETH are sent daily to decentralized finance applications and exchanges, versus $156 million to centralized ones.

" That's to say, DeFi is starting to overtake centralized crypto platforms due to the space finding a product-market fit.

Santiago R Santos, a partner at DeFi-centric crypto fund Parafi Capital, recently highlighted five other trends showing that this space is reaching "Escape velocity." These include but are not limited to MetaMask hitting one million monthly active users, the amount of circulating stablecoins passing $20 billion, and Ethereum scaling taking place.