Thursday, July 1, 2021

Future Finance - Issue #113: Compound and Coinbase To Offer DeFi Savings Products to Normies, Twitter Drops Some NFTs And The ABCs Of DAOs

Future Finance
Future Finance - Issue #113: Compound and Coinbase To Offer DeFi Savings Products to Normies, Twitter Drops Some NFTs And The ABCs Of DAOs
By Alan Tsen • Issue #113 • View online
Hi, FF fam! I trust you've all had a great week.
This week we saw Coinbase and Compound make moves to bring defi yields to fintech normies via savings products.
As competition continues to heat up in the consumer fintech space, products that allow users to access defi yields will be the next frontier for challenger banks as they look to differentiate their offerings. We're already seeing players like Current (see tweet below) lean in with what looks to be a product that provides access to Compound's high-yield interest rates. I can't wait to see this in the wild!
We also saw Twitter drop some fun NFTs on Rarible this week that caught everyone by surprise. My personal fav was the reply guy one. πŸ˜‚
And always, there's no shortage of news from the industry. So grab a coffee (or beer), and let's get into this week's news from the world of open and decentralised finance.
πŸ‘‰ Got some interesting news I should include in my newsletter? Feel free to respond to this email or hit me up on Twitter - my DMs are always open.
— Alan Tsen πŸ‘ŠπŸ’―
Ps. If you like what I'm doing here, please feel free to share it on your favourite social media network. Also, it'd be great if you forwarded this newsletter to a friend you think might enjoy it.

Things You Should Know About This Week
Dennis Porter
The President of El Salvador @nayibbukele is literally explaining step-by-step on National TV how to use bitcoin.

He is also giving $30 in $BTC to every citizen who downloads the government app, but they aren't required.

This is true leadership! πŸ‡ΈπŸ‡» https://t.co/OUHHtLvRY5
As of June 2021, over $1 billion has been committed towards blockchain-native analogs of traditional corporations called decentralized autonomous organizations or DAOs.
1729.com  •  Share
The USDC-powered savings product could be "shockingly big" for getting fintechs into DeFi, said Compound's Robert Leshner.
www.coindesk.com  •  Share
Current
We're excited to work with Compound Treasury and be able to give our members access to the protocol's interest rates through a simple, unified experience that can enable even more people to improve their financial outcomes. https://t.co/oSgkqikCTD
Coinbase is announcing a crypto savings account with a 4% annual percentage yield (APY) on deposits of the USDC stablecoin.
www.coindesk.com  •  Share
Britain's financial regulator has said Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.
www.reuters.com  •  Share
The moves by Goldman may reverberate on Wall Street and beyond as banks increasingly face pressure from clients who want exposure to bitcoin.
www.cnbc.com  •  Share
Just a couple of months ago, non-fungible tokens seemed to be everywhere. Visual artists, content creators, musicians, virtual marketplaces, investors, collectors – everyone bought into the hype, and many ended up making millions in the process. 
tearsheet.co  •  Share
Writeup of the iron.finance bank run yesterday So with the meltdown we won't know 100% until the devs release the…
www.reddit.com  •  Share
Coinbase has received the first crypto custody license from Germany's Financial Supervisory Authority (BaFin).
www.coindesk.com  •  Share
France still uses monetary colonialism to exploit 15 African nations. Could Bitcoin be a way out?
bitcoinmagazine.com  •  Share
No, it's not April Fool's Day. But Twitter's entire account has been taken over by NFTs. As its new header reads: "I've stopped moisturizing because tweeting about NFTs is keeping me young now." If that's true, the Twitter bird is going to look like a little baby duckling by the end of the day. This […]
techcrunch.com  •  Share
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Alan Tsen

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