Reddit Co-Founder Says 'Most' of His Assets Are in Ethereum

Reddit co-founder Alexis Ohanian revealed last year that cryptocurrencies represent part of his investment portfolio. Venture capital firm Seven Seven Six has since participated in a $5 million funding round for Bitcoin reward app Lolli and invested in blockchain infrastructure firm QuickNode. But where does Ohanian put his own money? At least partially on Ethereum. “I really think Ethereum has the most to really prove, or at least the potential to show, for at least the next two years,” Ohanian told Andrew Ross Sorkin on CNBC's "Squawk." " Box" this morning. "NFTs are just the beginning of what's built on top of the Ethereum blockchain, and that's where most of my holdings are intimate." @alexisohanian, "NFTs are just the beginning of what's built on top of the #ethereum blockchain and that's where most of my holdings are. where it's sincere" says. pic.twitter.com/ZfMowGRmhk — Squawk Box (@SquawkCNBC) June 10, 2021 Unlike the Bitcoin blockchain, which is mostly used to create and transact securely with digital money, the Ethereum blockchain is the blockchain of middlemen and people. This has essentially evolved into two main use cases: non-working tokens, or NFTs, and decentralized finance (DeFi).NFTs are typically digital assets (like virtual collections, artwork, or trading cards) or physical digital property titles used to transfer rights to properties.Meanwhile, DeFi allows people to borrow money without going through traditional financial institutions. Refers to any financial service protocol that allows trading or trading. Both areas experienced rapid growth in the past year. According to DeFi Pulse, there are approximately $60 billion worth of tokens in Ethereum DeFi protocols, up from about $1 billion a year ago. NFTs registered over $2 billion

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