Lex Sokolin, the Chief Economist of ConsenSys, took time out of his first “busy and extremely lively FMLS”, to sit down with me and discuss all things Consensys, Web3, crypto, blockchain, FTX, and Moreover.
Describing himself as “self-radicalized”, Lex explained his journey from a corporate banking background into the world of blockchain, the former Harlan Fiske Stone Scholar of Columbia Law School then gave his perspective on the collapse of FTX:
“There are reasons why you don’t have prop trade attached to client deposits because you know that when there’s a meltdown and over-leverage and bad risk-taking, the desire to take those client funds and plugging your hole is quite high,” Lex explained.
The amiable Lex, the former CMO of ConsenSys, then spoke sharply of an “over-financialized” global economy: “you go from a symbiotic relationship to a parasitic relationship and the same thing happened in crypto “.
Lex discussed how the collapse of some crypto companies will hurt legitimate companies building projects in the digital space that aren’t financially tied. When asked if anything good could come out of the meltdowns, Lex replied with a wry smile, “We don’t like the medicine but we need it, don’t we?”
Comparing today’s activities in the digital space to the dotcom bubble and the collapse of the internet boom, Lex said, “It’s not like there’s no more internet companies and people stopped using the web just because there was bad venture capital investment.” he pointed the same with the 2008 financial crisis and spoke passionately about the “macro image” of web3 and the opportunities for the growing number of players involved in developer networks.
Lex ended a candid discussion with some insights into upcoming trends and what we can expect in 2023. As someone who is not yet fully immersed in the world of web3, I found myself at the end of this fascinating, slightly deeper conversation.
Lex Sokolin, the Chief Economist of ConsenSys, took time out of his first “busy and extremely lively FMLS”, to sit down with me and discuss all things Consensys, Web3, crypto, blockchain, FTX, and Moreover.
Describing himself as “self-radicalized”, Lex explained his journey from a corporate banking background into the world of blockchain, the former Harlan Fiske Stone Scholar of Columbia Law School then gave his perspective on the collapse of FTX:
“There are reasons why you don’t have prop trade attached to client deposits because you know that when there’s a meltdown and over-leverage and bad risk-taking, the desire to take those client funds and plugging your hole is quite high,” Lex explained.
The amiable Lex, the former CMO of ConsenSys, then spoke sharply of an “over-financialized” global economy: “you go from a symbiotic relationship to a parasitic relationship and the same thing happened in crypto “.
Lex discussed how the collapse of some crypto companies will hurt legitimate companies building projects in the digital space that aren’t financially tied. When asked if anything good could come out of the meltdowns, Lex replied with a wry smile, “We don’t like the medicine but we need it, don’t we?”
Comparing today’s activities in the digital space to the dotcom bubble and the collapse of the internet boom, Lex said, “It’s not like there’s no more internet companies and people stopped using the web just because there was bad venture capital investment.” he pointed the same with the 2008 financial crisis and spoke passionately about the “macro image” of web3 and the opportunities for the growing number of players involved in developer networks.
Lex ended a candid discussion with some insights into upcoming trends and what we can expect in 2023. As someone who is not yet fully immersed in the world of web3, I found myself at the end of this fascinating, slightly deeper conversation.
#dont #drugs #Lex #Sokolin #ConsenSys