Andre Cronje broke the silence for the first time since he shut down his Twitter account and after he shocked the world when he fled his project so let’s read more today in our cryptocurrency news.
Andre Cronje broke the silence today when he fired an entry on Medium, giving context to his departure. Back at the start of March, Cronje known for his creation of Yearn Finance disappeared suddenly from the crypto space with no prior explanation or notice. Breaking the announcement was Anton Nell the senior solutions architect at the Fantom Foundation who was working closely on Fantom and the ecosystem. Nell wrote:
“Andre and I have decided that we are closing the chapter of contributing to the defi/crypto space. There are around 25 apps and services that we are terminating on 03 April 2022.”
Many speculated that this was not the end for Cronje’s involvement in the industry and he shut down his Twitter account on other occasions as well. Yet a month later, we didn’t hear anything from him until now. Cronje filed a Medium entry dubbed The Rise and Fall of crypto culture and without going through much in-depth, he argued that the current state of crypto culture strangled the crypto ethos. He explained that the ethos is centered on concepts such as self-sovereign rights, self-empowerment, self custody, and more while crypto culture is concepts like wealth, enrichment, ego, and entitlement.
Cronje arrived at a point where he believes regulations are much needed and not a mechanism to prevent but to protect. He argued that the current iteration of the industry will become the badlands while unknown wallets lurk in the shards and we will also see the rise of a blockchain economy driven by trust and not by greed. At the end of the day, he said that he is quite excited by the new future but he did make it clear that he will not step foot in crypto and the current iteration.
As recently reported, Back in March 2020, he quit crypto because of the toxic community but returned. He then quit in August and it was a mess but this time it is likely certain. Anton Nell who also worked with Cronje and was the senior architect of the Fantom Foundation and said that they both decided to close the chapter of contributing to the DEFI space.
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