Are Banks Getting Nervous About Competition From DeFi?

Automatic TRANSCRIPT

What's going on guys. It is thursday may sixth and today we are asking whether banks are getting nervous about competition from defy first step however. Let's do the brief. I on the brief today makoto. Lebron is the latest company to add bitcoin to its balance sheet. This is a massive latin-american e commerce and fintech company. You may remember them for being one of the founding members of the libra association and then leaving that association a few months later. It's a company that is based in argentina but listed on nasdaq they announce as part of their q one reporting the they had added seven point. Eight million dollars worth of bitcoin to their balance sheet now in some ways. This isn't that surprising. Ricardo libra has a long history of interaction with bitcoin. In two thousand fifteen the integrated. Bitcoin is a payment option on their makoto. Pago platform just last week. The company announced a real estate platform exclusively for properties available for sale and bitcoin launching with seventy five initial properties. Some on twitter pointed out that a latin american company investing in bitcoin to protect itself from currency devaluation was even more poignant than some of its american counterparts given how frequently bouts of inflation have destroyed savers in places like mocatta libraries home of argentina and speaking of latin american unicorns. The mexico based crypto exchange. Bit so has just raised a new round of funding that values at two point. Two billion dollars making it. The first latin american crypto unicorn. Next up on the brief today a digital has bought bit go for one point two billion dollars one of the key things. We've been watching here at the break. Down is crypto emanate. Emanate can tell us a lot about wearing. Industry is when times are tough as a survival strategy for companies that might otherwise go under when times are good as often. Something very different. This time around. There are two broad categories. I'm seeing. I is a joining of forces not because one party is at risk of dying but because together they see more chance to win important category

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