Ex NYSE President Says Crypto Is The Best Kept Secret Ever

Ex NYSE president Thomas Farley says that he is all in on crypto but that crypto is the best-kept secret in the world as well. What did he mean with that, we find out in our latest crypto news today.

Thomas Farley, the Ex NYSE president is now a CEO of the fintech investment firm Far Point and spoke to CNBC’s Squawk Box on Thursday that crypto is the best-kept secret in the world and maybe even in the history of the financial markets. Considering there’s a lot of talks about crypto going mainstream, that doesn’t seem that it is indeed a well-kept secret:

“I’m all in. I think the crypto space is amazing right now, notwithstanding the press it’s gotten.”

"The crypto space is amazing–it's the best kept the secret in the world, and maybe the history of the financial markets," says @ThomasFarley on $COIN #bitcoin. "I think it's here to stay and we are past the point of no return." pic.twitter.com/4YAuuD87OV

— Squawk Box (@SquawkCNBC) April 22, 2021

Back in 2013, Farley directed the NSYE to invest $10 million in Coinbase but he didn’t invest his own money even though the Coinbase co-founders tried to talk him into it. For some reason, he didn’t invest his own money, justifying his FOMO that it will have been a conflict of interest. Farley’s got his sights trained somewhere else:

“There’s a corner of crypto called DeFi. It comprises “really smart kids putting up code on a blockchain of their choosing, and you have self-operating smart contracts.”

Farley’s interested in DeFi as well as decentralized exchanges on which investors trade crypto without having to use an intermediary and he even said it is fascinating that we have passed the point of no return. According to the data from CoinGecko, Coinbase recorded a 24-hour trade volume of $3.8 billion while DEXs trade far less. The daily trading volumes amounted to $1.7 billion on Pancakeswap and about $1.5 billion on Uniswap. 

Speaking of Uniswap, The leading decentralized exchange Uniswap deployed V3 contracts to all Ethereum test networks and in the announcement, Uniswap Labs confirmed that the V3 core protocol and periphery smart contracts have deployed to Ropsten, Kovan, Rinkeb, and Goerli. The testnet addresses were posted to Github with Uniswap while reminding the users that the addresses are not final and will be changed while the team makes final updates to the periphery repository. Version three of the core contracts was also deployed to GitHub. The big bounty was started at the end of March offering rewards up to $500,000 for the discovery of thigh severity bugs in the version 3 contracts.