DeFi Survives Another Crypto Curveball

In this edition of the Bloomberg Crypto newsletter, Emily Nicolle questions the perils of experimentation in decentralized finance.

In crypto, it’s common for founders to amass large holdings of their project’s native token as a way of building up a stake in the business, rather than traditional equity. Not only is it in keeping with the industry’s professed ethos of transparency, it’s also a more liquid means of exit (in theory).