Institutions Race to DeFi

Waiting for the FOMC meeting, the crypto markets, and almost every other market, has been looking bleak. Bitcoin is in a downward trend and alts seem to have lost their way altogether, but all hope is not lost. Institutions are coming and legitimizing the space where “we buy memes and farm them for more memes,” known as Decentralized Finance.

• On April 26, Fireblocks, the platform for institutions in DeFi, released support for DeFi on Terra. An early access program saw $500 million in volume flow into Terra.
• Katherine Molnar, the Chief Investment Officer of the Fairfax County Police Retirement System, made an announcement at the Milken Lot Global Conference in Los Angeles Tuesday, that they are considering yield farming with pension funds. They were also one of the first counties in the US to put pension funds into crypto linked investments back in 2019.
• Jane Street Capital, one of the world’s largest market makers plans to borrow $25 million USDC through Clearpool, marking the first major Wall Street institution to borrow through a DeFi protocol. Depending on market conditions, they may increase their position to $50 million.

Now is a great time to familiarize yourself with tokenomics, yield farming, or some other niche in the crypto space to give you an edge when the market turns back to ‘up only.’