Hello hello,

Besides a nice little holiday I’ve been playing with Decentralised Finance. You can do things like borrowing and lending. But due to it’s decentralised nature and because it’s based on smart contracts you can do all kinds of things which are impossible in traditional finance apps. Such as Living Tax-Free off Magical Internet Money or earning 150% interest per year (that’s a bit better than the 0.01% of your bank). Here is a high level overview of why the interest / yield can be so high.

Coinbase, one of the biggest crypto exchanges in the USA (and the world) was ready to launch Coinbase Earn. A service which gives you gives you 5% interest per year if you hold money on Coinbase (in a Stablecoin). However the SEC is stopping Coinbase Earn from launching. 

Why would they do this if other platforms already offer this? A theory is that Coinbase is already so big and that the interest rates on savings accounts are so low with traditional banks that it would be a no-brainer for people to move their money into Coinbase Earn. It’s relatively safe and 5% is a lot more than 0.01%. However, this could cause serious consequences if banks wouldn’t have enough money in deposit anymore. So the SEC is stepping in to protect the system from instability.

Italy’s richest person is the owner of Nutella. It’s delicious but also bad for you (despite their advertisement campaigns wanting you to believe it’s a nice way to start the day. They got sued for these claims before). Read the origin story of the Nutella imperium and how it took over the world.

I just got back from watching Dune in the cinema. Highly recommended if you are looking for some high-end cinema visual.

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