DeFi’s total value locked never reclaimed its 2021 peak, even after a full bull run. Ethena Labs founder Guy Young says that data point convinced him a neobank, not more DeFi growth, was the next move.
He lays out why he isn’t worried about Tether-backed Plasma competing for crypto’s existing users, and why he thinks crypto users are disloyal enough that a better yield can pull them away from any rival, including his own.
Host:
-
- Laura Shin – Founder, CEO and Host of Unchained
Guest:
-
- Guy Young – Founder and CEO of Ethena Labs
This clip is from a longer conversation on why Ethena built a neobank instead of waiting on DeFi. Full episode here.
New episodes every week — subscribe to catch it live.
Sponsor:
