Framework Ventures co-founder says DeFi offers hope following FTX collapse
FTX’s downfall will heighten the necessity for regulation but additionally pique long-term curiosity from enterprise capitalists seeking to put money into decentralized finance (DeFi), in line with Michael Anderson, co-founder of Framework Ventures.
“It just seems obvious that DeFi is the only way that we can continue to do these types of financial services operations in the crypto ecosystem,” Anderson stated to Thealike. “It gives us hope and strengthens our resolve that the things we’re pushing for are the right things to be working on.”
In April, Framework Ventures launched its third fund at $400 million, with about half of it earmarked for web3 gaming. Anywhere from half to 70% of pitches the agency will get are gaming-related corporations, Anderson stated. But the latest scenario with FTX has the agency “doubling and tripling down on everything we believe in,” which incorporates DeFi and regulation of centralized finance (CeFi).
And whereas some companies like Multicoin have seemingly misplaced capital saved on FTX’s crypto alternate, Vance Spencer, co-founder of Framework Ventures, stated the agency had no publicity.
“Regulation is not something we should be against or preventing,” Anderson stated. “Sensible regulation makes sense and now that [former FTX CEO Sam Bankman-Fried] has been removed from the table, we can move forward and get more vocal about centralized finance versus DeFi and the pros and cons of each.”
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