Andre Cronje calls for crypto regulations: "Crypto is dead Long live Crypto"
Andre Cronje is well-known for his work in the Fantom ecosystem, and Yearn Finance recently wrote an article criticizing crypto culture and sharing his thoughts on why the industry requires regulation.
"The rise and fall of crypto culture"
Cronje has published a new article titled The Rise and Fall of Crypto Culture on Medium. He clarified that the crypto ethos concept differs significantly from the concept of crypto culture. He sees the first as being about self-sovereignty, self-control, and self-empowerment, whereas crypto culture is about wealth, entitlement, enrichment, and ego. He believes that crypto culture has taken over the crypto ethos and that more regulation is needed than ever.He went on to say that he believes regulations should be in place to protect people in difficult situations. He explained this by saying that you should intervene if a child tries to stick their finger into an electrical outlet before learning why they shouldn't. Cronje envisions a new blockchain economy driven by trust rather than greed instead of the current system, which is more about trustlessness.
Andre Cronje's adventure
Andre Cronje caused a stir in the crypto community when he announced his departure from the DeFi space. Still, Cryptonary reported in March that he was back deploying and funding multiple stablecoin pools using Curve v2. These stablecoins are derived from Cronje's fixed foreign exchange, which was launched last year and is compatible with Curve, Yearn, and Convex.Cronje, who created and launched the crypto yield aggregator Yearn Finance in 2020, has become a household name in the crypto industry due to the YFI's success and his work on the Fantom ecosystem but has recently become more critical of what happens in crypto.
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