This is an excerpt from the Empire Bulletin. To read the full editions, Subscribe.
The cryptocurrency credit market has not fully recovered since 2022, when we saw most of the major players collapse.
Honestly, this was probably for the best given the amount of damage done.
But it's not an area of crypto that we can expect to remain dormant, especially if cryptocurrencies are truly poised for another golden year (or even four).
Obviously, a lot of changes will have to be made. There must be greater transparency.
Data platform Accountable, which operates in the unsecured crypto credit space, is taking steps to become perhaps one of the first successful lending companies after 2022.
“The main value is being able to prove, without any API key sharing, any wallet sharing, what happens in the central place — like banks, brokerage accounts, exchanges, custodians — that lenders or any other user can prove that 'I'm financially healthy. Finance, I am working as intended,” CEO in charge Wojtek Pawlowski told me.
“Accountable's goal is to one day become the new Celsius,” Pawlowski said. Without all the scams and bad actors of course. Pawlowski hopes to grow his company into a “digital finance platform” that can open revenue-generating opportunities for users.
I will admit that, in my conversation with Pawlowski, I expressed my doubts about the retail sector's willingness to return to lenders after they go bankrupt.
Pawlowski believes that, like any other cycle, we will see appetite return as transparency challenges ease. They are already working with companies like Galaxy and Amber Group.
He also pointed out that the human mind overcomes financial losses after two or three years. If that's true, then maybe it's time to strike while the iron is hot.
Start your day with the best cryptocurrency insights from David Kanellis and Katherine Ross. Subscribe to the Empire Newsletter.
Explore the growing intersection between cryptocurrencies, macroeconomics, politics, and finance with Ben Strack, Casey Wagner, and Felix Goffin. Subscribe to the Forward Way Newsletter.
Get alpha straight to your inbox with 0xResearch Newsletter — Market highlights, charts, trading ideas, management updates, and more.
The Lightspeed Newsletter has everything Solana, in your inbox every day. Subscribe to Solana Daily News By Jack Kopenick and Jeff Albus.
Source link