Liquidity in unsecured lending takes a long position on tomorrow’s whales

A short tour through some of the new DeFi projects that aim to get capital to the folks who don't already have it

Rich people don’t produce much.

This hit me when I read a historic Twitter thread. Just before the giant crypto exchange, FTX, fell apart, a young crypto trader, Ishan Bhaidani, wrote a viral thread about why he was taking all of his assets out of the venue and shorting its token, FTT. The thread pointed to a variety of strategic mistakes that he believ…