bitcoin
Two Prime CEO Calls Bitcoin Yields From Babylon and Stacks 'VC-Funded Subsidies'
Blume, CEO and co-founder of bitcoin lender and asset manager Two Prime, said yields from what he called bitcoin layer-2s, such as Babylon and Stacks, are subsidies that pay each depositor less as more money comes in.
Blume said on Unchained Premium, in an Oct. 22 interview, that "in my mind, these are, these are basically just VC-funded subsidies" and that "the more scale you put into it, the less the subsidy pays out because there's more money attracting the same subsidy." He also said "you can't run on infinite losses VC money forever," which in his view leaves depositors "running around finding the next yield because they all dry up," taking on new tech and hack risk with each move.
On Stacks, Blume said, "I don't know it as well," adding that he thought holders got Stacks tokens "or maybe Bitcoin" for keeping BTC there. This story is brought to you by Unchained Premium.
