DeFiance Capital’s CEO, Arthur Cheong, has been closely monitoring three cryptocurrencies he believes fulfill the most powerful scenarios. Cheong suggests that cryptocurrency and blockchain technology are poised to meet needs once served by the fintech industry. He believes that despite numerous issues, from a first-principle perspective, the logic holds and thus, investing in this domain, particularly in DeFi (decentralized finance), is worthwhile. Cheong argues that fintech hasn’t brought anything new to finance as banks can incorporate technology themselves, rendering fintech’s contribution to the financial world as non-innovative.
Highlighting specific cryptocurrencies, Cheong is bullish on DeFi protocols Synthetix (SNX) and Aave, as well as the crypto gaming project Axie Infinity (AXS). He emphasizes that DeFi represents a fundamentally different paradigm, offering an alternative method of organizing the financial world. This belief has led him to invest early in Synthetix and Aave. Additionally, he sees gaming as one of the few sectors where cryptocurrency is meaningfully applicable, which is why he also supports AXS.