Kevin O’Leary Goes Decentralized Finance With WonderFi
“Shark Tank” host and entrepreneur extraordinary Kevin O’Leary has revealed his latest investment. He believes the next big investment opportunity lies in the decentralized finance (DeFi) space. As a result, Mr. Wonderful has become a significant shareholder in a company bringing this financial innovation to the masses and a company now named after its nickname: WonderFi.
WonderFi was created to help investors learn and profit from DeFi. Its platform simplifies user interaction with decentralized finance and sums up the complexities that are the main obstacles preventing widespread adoption of DeFi. This new financial system offers financial products without the need of a bank or a financial institution. Some benefits of this include borrowing money instantly or earning interest on your holdings rather than the 0% you would earn in a joint treasury account.
Kevin O’Leary has realized some of these benefits and plans to use DeFi to lend assets in return for a return, with a target rate of up to 8% per annum.
“DeFi is the next big thing. And has the potential to be green, democratized, sustainable, and will likely be the biggest area of interest in finance over the next 5-10 years. “- Ben Samaroo, CEO of WonderFi
Currently, DeFi is used by crypto experts and traders. With Mr. Wonderful’s help, the potential of WonderFi’s proprietary dashboard is huge. The platform removes the complexities of space and will allow people to lend, borrow, earn internet, trade assets through smart contracts which may be more efficient than traditional end products.
Watch the full interview to learn more about the benefits of DeFi for the current financial system, the regulatory environment around Bitcoin (BTC) and cryptocurrencies, and Kevin O’leary’s involvement in it. ‘business.
00:31 – Presentation of the company WonderFi
1:00 – What is DeFi?
2:01 – Financial system resistance to DeFi
4:29 – Kevin O’Leary’s founding and investment team
6:51 – Regulatory environment
8:44 – Obstacles to the legal tender of Bitcoin
12:10 – Does WonderFi have a business if crypto is not adopted as legal tender?
1:40 p.m. – Ethereum (ETH)
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