Feb 3, 2021
🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/
✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI
🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/
👕 BUY BANKLESS TEE: https://merch.banklesshq.com/
💪BECOME A BANKLESS PREMIUM MEMBER: http://bankless.cc/membership
GO BANKLESS WITH THESE SPONSOR TOOLS:
⭐️ AAVE - BORROW OR LEND YOUR ASSETS
🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP
💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith
📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY
SotN32: Does DeFi Fix This? Cameron & Tyler Winklevoss ($GME Gamestop Short-Squeeze, Robinhood, Melvin Capital)
We bring Tyler & Cameron Winklevoss, founders of the Gemini Exchange and crypto-visionaries, to the Bankless State of the Nation. We do a deep dive into the market craze of the Gamestop ($GME) Short-Squeeze, r/Wallstreetbets, and what it means for the DeFi space.
-Robinhood Retail vs. Institutional Elite
-Media & The Establishment
-Is Traditional Finance Broken?
-DeFi's Big Moment
Cameron & Tyler Winklevoss had a heated appearance on CNBC last week to discuss the events of the Gamestop Short-Squeeze in the context of populism, the inequity of the current financial establishment, and cryptocurrency.
Their argument centers on the relationship between censorship and centralization –problems that don't exist in the crypto landscape. The $GME craze has been the epicenter of a growing protest against the institutional elite – this protest inherently calls for decentralization and distributed power. DeFi fixes this.
Brokerages like Robinhood having the power to limit trading based on a phone call is a war cry to adopt permissionless transacting. Cameron describes how this is an example of the people becoming disillusioned to the monopoly of modern money. The media establishment has vastly underestimated and vilified these "internet amateurs."
The Winklevi discuss how a money-making opportunity turned into
a movement demanding institutional change, flaming the fires of
broken trust after events like the '08 collapse. Public forums like
Twitter and Reddit have become powerful tools to organize the
masses, and the sentiments seen here reflect cryptocurrency's value
The big question remaining is how these events and arguments can serve as a rallying point for DeFi adoption. Cameron & Tyler are optimistic about DeFi's solutions to increasingly relevant and urgent problems in our current system.
Tyler Winklevoss on Twitter
Cameron Winklevoss on Twitter
Don't stop at the video!
Subscribe to the Bankless newsletter program
Visit the official Bankless website
Follow Bankless on Twitter
Follow Ryan on Twitter
Follow David on Twitter
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.