ADOPTION: The richest person in crypto chooses DeFi over banks for funding

Sam Bankman-Fried who is the CEO of Alameda Research has chosen to cut out banks and borrow up to $1bn of new money for expansion straight from DeFi. The loan will be taken in stablecoins from a DeFi platform called Maple Finance. It's a huge deal because it's the first time where such a high profile company cuts out banks and other intermediaries from arranging the new financing and goes to DeFi instead. That's how banks make their money, so imagine when many other big companies start doing this. It will be a huge test for DeFi, but I think it's very exciting. Source submitted by /u/TryingToMakeAMil [link] [comments]