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⚠️IMF Warns Against Crypto-Borne Alternative Financial System

The Defiant

DeFi Alpha

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The International Monetary Fund is warning that unregulated crypto markets could facilitate the emergence of a new monetary ecosystem. "Crypto asset technologies, if not well regulated and supervised, could create de facto a new and alternative financial system," the IMF said.

In DeFi news, Contango launched perpetual futures contracts leveraging Aave, the top lending protocol. Contago offers one-click DeFi-native futures through recursive lending.

Plus, Mirror, an NFT-based publishing platform, has revamped its front-end interface following a surge in adoption. Users can now access curated or personalized content feeds showcasing media from across the platform.

✍️ In today’s newsletter:

  • IMF warns web3 could realize its promise of a new financial system
  • Contango taps Aave to launch recursive lending-powered futures
  • Mirror overhauls homepage following increased adoption

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🎬 WATCH

Watch our video looking at the rise of Friend Tech and social trading apps. And check out our podcast with Blockchain Capital partner, Spencer Bogart, who walks us through the firm's new funds, plus its investment thesis for the controversial Worldcoin cryptocurrency.

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