DeFi or Bitcoin ETFs, Retail Investing Tips

 DeFi or Bitcoin ETFs, Retail Investing Tips
  • $9 billion of DeFi assets are locked on avalanche, making it a competitor to ethereum and solana.
  • John Wu is the president of Ava Labs, which founded the blockchain.
  • Wu shared his insights about DeFi, including why hedge funds prefer it to bitcoin ETFs.

John Wu and Ava Labs have big plans for the crypto space.

“Our larger mission is not just to be a dominant player in the DeFi system,” the fintech firm’s president told Insider in a recent interview. “We want to help to tokenize the $700 trillion of the world’s assets that sit on the balance sheets of financial services firms.”

Ava Labs created avalanche, a layer-one blockchain protocol on which $9 billion of crypto assets are locked. Its native token, avax, has soared 2,000% this year.

Wu drew a distinction between avalanche and two of its layer-one altcoin…

Read full article…www.businessinsider.com