Remy Blaire engages in a thought-provoking discussion with Samantha Bohbot, Partner and Chief Growth Officer at RockawayX. The conversation centers around the current state and future trajectory of decentralized finance (DeFi) and its growing significance in the global financial system.
Remy opens the segment by referencing insights from Robinhood’s crypto general manager, who asserts that crypto is becoming the backbone of the financial infrastructure. Samantha elaborates on this by highlighting the remarkable growth of DeFi, which has evolved to include tokenized real-world assets, stablecoins, and yield-bearing instruments. She notes that decentralized exchanges have seen a substantial increase in spot volume, rising from 5% two years ago to 29% this year, indicating a significant shift in investor behavior.
As the discussion progresses, Samantha shares RockawayX’s perspective on DeFi, emphasizing the importance of having a diverse range of appealing products available for investors. She explains that the ability to put meaningful capital to work on blockchain ecosystems is crucial for attracting investment and that the variety of products is expanding, which is a positive sign for the market.
The conversation then shifts to the state of private markets in the crypto space. Samantha describes a mixed environment where, despite strong Q3 earnings, there is a prevailing sense of caution among investors. She discusses the challenges faced by founders in securing funding and the crowded nature of many deals. However, she also points out a silver lining with an increase in IPOs and OTC deals, as investors look to capitalize on opportunities in established companies like Kraken and Ripple.
Remy and Samantha delve into the current market volatility affecting all asset classes, including equities and commodities. Samantha describes the situation as a “weird limbo,” where optimism from strong earnings is countered by fears stemming from recent market events and economic uncertainties. She emphasizes that this uncertainty creates a sense of paralysis among investors, making it difficult for them to make confident decisions.