Galaxy Digital's CEO, Mike Novogratz, made a praised tweet saying that he was "constantly impressed" by Ethereum ( ETH ) co-founder Russian-Canadian programmer Vitalik Buterin.
He said that Novogratz Buterin was trying to build "enormous value" while emphasizing his long-term vision.
DeFi projects can pose systematic risks, according to the Ethereum creator
Novogratz showed admiration to ETH co-founder after Buterin marked some flaws in decentralized finance (DeFi) projects representing a new stage for Ethereum .
According to Buterin, much attention is paid to "flashy DeFi things" that offer much higher interest rates than a traditional bank .
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He also notes that Buterin DeFi offers short-term opportunities for arbitrage or fails to explain some systemic risks.
Buterin had warned his followers not to see the area as a safe investment in September, when the value of DeFi was worth around $ 537 million.
The new king of DeFi
Meanwhile, the total value locked in DeFi projects approached $ 1.5 billion as it continued to attract investors hungry for profit.
Compound began distributing COMP tokens to allow users to participate in the management of the protocol and passed Maker in terms of market value. The price of this token saw more than 250 pe