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Lex Sokolin, Chief Economist at ConsenSys, took time out from the original “packaged, super active FMLS” to sit down with me to talk all things Consensys, Web3, crypto, blockchain, FTX and more.

A self-described “self-fanatic,” Lex explains his journey from corporate banking history to the world of blockchain, while the former Harlan Fiske Stone Scholar from Columbia Law School gives his take on FTX’s failure.

“There are reasons why there is no proposition business tied to client deposits because they know the downside. And the overleverage and poor risk — the desire to take those client funds and put them in your hole is too high,” Lex explained.

Emilio Lex, former CMO of Consensus, went on to speak well of the global economy “beyond money”: “You go from a symbiotic relationship to a dependent relationship and the same thing happened in crypto.

Lex talked about how the failure of some crypto companies will affect the construction projects of legitimate enterprises that are not related to finance in the digital space. When asked if some good things could come out of the fall, Lex replied with a wry smile: “We don’t like the medicine, but we have to have it, right?”

“It’s not like Internet companies don’t exist anymore and people stop using the Web because there are bad venture investments,” says Lex, comparing today’s activity in the digital space to the Internet bubble and Internet collapse. In the year He pointed to similarities with the financial crisis of 2008 and spoke passionately about the ‘macro-picture’ of Web3 and the growing opportunities for people participating in developer networks.

Lex concludes our candid discussion about 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 a little deeper at the end of this fascinating discussion.

Lex Sokolin, Chief Economist at ConsenSys, took time out from the original “packaged, super active FMLS” to sit down with me to talk all things Consensys, Web3, crypto, blockchain, FTX and more.

A self-described “self-fanatic,” Lex explains his journey from corporate banking history to the world of blockchain, while the former Harlan Fiske Stone Scholar from Columbia Law School gives his take on FTX’s failure.

“There are reasons why there is no proposition business tied to client deposits because they know the downside. And the overleverage and poor risk — the desire to take those client funds and put them in your hole is too high,” Lex explained.

Emilio Lex, former CMO of Consensus, went on to speak well of the global economy “beyond money”: “You go from a symbiotic relationship to a dependent relationship and the same thing happened in crypto.

Lex talked about how the failure of some crypto companies will affect the construction projects of legitimate enterprises that are not related to finance in the digital space. When asked if some good things could come out of the fall, Lex replied with a wry smile: “We don’t like the medicine, but we have to have it, right?”

Comparing today’s activity in the digital space to the Internet bubble and Internet bust, Lex says, “It’s not like Internet companies don’t exist anymore and people stop using the Web because of bad venture investments.” In the year He spoke passionately about the ‘macro-picture’ of Web3 and the growing opportunities for people participating in developer networks, pointing out similarities to the 2008 financial crisis.

Lex concludes our candid discussion about 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 a bit at the end of this fascinating discussion.

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