Let’s be real while the system runs as clunkily as it does, cryptocurrencies will never actually be currencies. Yes, crypto trades may be resplendent with big gains, but getting in and getting a win is only part of the problem – at some point you have to get your money out, and that can be rough.īasically, buying crypto is like going into business with a Russian guy you met at the casino at 3am after several Manhattans – it may work out well, but you may also end up penniless in a ditch when you ask for your share of the profits. The SEC sure as hell isn’t coming to my rescue. If I end up on an exchange like Coinbase (COIN.Q), I’m paying big fees when I buy or sell, I’ve got to jot down a stonking long wallet key or risk losing it all, if the exchange goes sideways I could lose everything (happened to me once already, thanks Einstein.Exchange), and if the exchange decides to limit trades in some way because it’s running low on cash or there’s a run, I’ve nowhere to go for a remedy. I have to find an exchange I trust that’s not about to go bust, go through an always weird sign up process, wire a load of cash, then make my trades days later. If I decide to buy into a cryptocurrency, I have to navigate some barriers to entry. Sure, it might be a fun time, but the come downs are hard, and I don’t like having to meet a dude behind the Dennys parking lot just to acquire it. It’s a thing, so let me break it down a little in super broad strokes. The combined team of 13 engineers including 5 PhDs have developed a proprietary DeFi technology and IP portfolio since 2017 and, upon completion of the Business Combination and Concurrent Financing, will be ideally positioned to expand their R&D, product pipeline and user base. The companies combine best-in-class leadership with decades of experience building disruptive technology in Silicon Valley and Israel. Here’s how it was explained a few months back:īeginning in 2017, Seamless and Mone圜lip have developed complementary, cutting-edge technology infrastructure designed to facilitate decentralized finance (“ DeFi“) by streamlining cross-blockchain trading and making Bitcoin compatible with DeFi. What does Wellfield do? I’m glad you asked because, in truth, it’s maybe a bit complex for people who don’t inhabit Planet Crypto. Early trading blew right past that number, settling in at the time of writing at $140m. The recent grouping of Israeli firms Seamless Logic and Moneyclip Inc, with 1290447 BC Ltd, is now known as Wellfield, and emerged on the markets with backers looking for a roughly $100m valuation. The final stage of a long acquire-and-go-public process reached completion for Wellfield Technologies (WFLD.V) Tuesday, as the de-fi roll up that has been attracting financial heavy hitters behind the scenes this past year received its go-ahead go-public nod.
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