The GameStop story reveals the regulatory paternalism and true value of DeFi

The GameStop story reveals the regulatory paternalism and true value of DeFi

Though they seem to come out of nowhere to many, the themes behind the Reddit-fueled R / Wallstreetbets are pump from GameStop (NYSE 🙂 feel familiar. As I watched it unfold, I was trying to figure out why it had piqued my interest so much, and for me it was an encroachment on the traditional markets of some of the ubiquitous themes that drive crypto.

Despite some competition in the narrative, I see the motivational power – and by that I mean the social media spread of the message that generated enough interest to have an impact on the market – behind the GME pump as analogous to what’s on one point was an impetus behind it (BTC). It is a driver for (depending on your cynicism) the crypto markets in the broader sense and the decentralized financial movement – a desire for “democratization of finances”. Behind this movement is the view that finance and financial products should be open source and accessible to all, rather than depending on whether you are an accredited (read: wealthy) or an institutional actor.

Sarah H. Brennan is a consultant and head of the practice for digital assets and disruptive technologies at Harter Secrest & Emery LLP. Sarah has a broad range of corporate and transactional experience. Her primary focus is corporate and securities law, representing public and private companies, venture capital and private equity firms, investors and clients at every stage of the company lifecycle.

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