Martin Shkreli, the “Pharma Bro” who recently served time in prison for securities fraud, has shared some of his thoughts on Bitcoin, DeFi, and Web3 with the crypto community.
Martin Shkreli Discusses DeFi
Martin Shkreli, the infamous “Pharma Bro” who raised the price of the life-saving drug Daraprim by over 5,000%, is bullish on DeFi. On an early Saturday Twitter Spaces call, the controversial entrepreneur spoke to a group of crypto fans about the future of Bitcoin and DeFi.
Shkreli expressed optimism about the future of DeFi and revealed that he has previously used the technology. “Uniswap is really cool. I started using Uniswap in prison,” He said of Ethereum’s leading decentralized exchange.
He also discussed how DeFi could eventually replace the traditional financial system. “I don’t think it’s at the limit of where it can go,” he said. “I think we’ll see more and more financial products that end up in DeFi. Eventually we’ll see some crypto entity be bigger than the banking behemoths.”
Shkreli also discussed how traditional stocks could be tokenized using block chain technology. “There are so many ways we can do things with DeFi. There should clearly be an Apple coin and a Tesla coin,” he said.
DeFi already allows Apple and Tesla trading with synthetic assets, though it has yet to see widespread adoption. Shkreli criticized the process of purchasing stocks in the United States, implying that DeFi could improve the experience.
“The idea that I can’t buy a Tesla share without going through this SEC apparatus and all these other steps is kind of nuts, there are people breaking the silo and trying to destroy it forever, I hope.” Shkreli, who worked as a hedge fund manager before founding Turing Pharmaceuticals, added that DeFi could provide people with “real freedom” by allowing them to trade any asset anywhere in the world.
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