Friday, June 14, 2024

“We Don’t Just like the Drugs, however We Have to Have It”: Lex Sokolin, ConsenSys

by Jeremy

Lex Sokolin, the Head Economist at ConsenSys, took outing from his first “packed, extraordinarily full of life FMLS,” to sit down down with me and chat all issues Consensys, Web3, crypto, blockchain, FTX and extra.

Describing himself as “self-radicalized”, Lex defined his journey from a company banking background into the blockchain world, the previous Harlan Fiske Stone Scholar from Columbia Regulation College then gave his tackle the FTX collapse.

“There are the explanation why you do not have a prop buying and selling hooked up to buyer deposits as a result of you already know within the case of collapse. and over-leverage and poor risk-taking the need to take these buyer funds and plug in your gap is fairly excessive,” Lex defined.

The amiable Lex, the previous CMO of ConsenSys, then spoke sharply of an “over-financialized” international economic system: “you are going from like a symbiotic relationship to a parasitic relationship and the identical factor occurred in crypto.”

Lex talked about how the collapse of some crypto corporations will harm reputable enterprises constructing tasks within the digital area that aren’t financially associated. When requested whether or not some good might come out of the collapses, Lex answered with a wry smile: “We do not like the medication, however we have to have it, proper?”

Evaluating in the present day’s actions within the digital area to the web bubble and the collapse of the web increase, Lex mentioned: “It is not like there have been no extra web corporations and other people stopped utilizing the online simply because there have been unhealthy Enterprise Investments.” He identified the identical with the monetary disaster of 2008 and talked passionately of the ‘macro-picture’ of web3 and the alternatives for the rising variety of these concerned in developer networks.

Lex ended our frank dialogue with some insights into upcoming developments and what we are able to anticipate in 2023. As somebody not fairly absolutely immersed within the web3 world but, I discovered myself on the finish of this fascinating chat, that little deeper.

Lex Sokolin, the Head Economist at ConsenSys, took outing from his first “packed, extraordinarily full of life FMLS,” to sit down down with me and chat all issues Consensys, Web3, crypto, blockchain, FTX and extra.

Describing himself as “self-radicalized”, Lex defined his journey from a company banking background into the blockchain world, the previous Harlan Fiske Stone Scholar from Columbia Regulation College then gave his tackle the FTX collapse.

“There are the explanation why you do not have a prop buying and selling hooked up to buyer deposits as a result of you already know within the case of collapse. and over-leverage and poor risk-taking the need to take these buyer funds and plug in your gap is fairly excessive,” Lex defined.

The amiable Lex, the previous CMO of ConsenSys, then spoke sharply of an “over-financialized” international economic system: “you are going from like a symbiotic relationship to a parasitic relationship and the identical factor occurred in crypto.”

Lex talked about how the collapse of some crypto corporations will harm reputable enterprises constructing tasks within the digital area that aren’t financially associated. When requested whether or not some good might come out of the collapses, Lex answered with a wry smile: “We do not like the medication, however we have to have it, proper?”

Evaluating in the present day’s actions within the digital area to the web bubble and the collapse of the web increase, Lex mentioned: “It is not like there have been no extra web corporations and other people stopped utilizing the online simply because there have been unhealthy Enterprise Investments.” He identified the identical with the monetary disaster of 2008 and talked passionately of the ‘macro-picture’ of web3 and the alternatives for the rising variety of these concerned in developer networks.

Lex ended our frank dialogue with some insights into upcoming developments and what we are able to anticipate in 2023. As somebody not fairly absolutely immersed within the web3 world but, I discovered myself on the finish of this fascinating chat, that little deeper.

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