Craig Wright takes public digs at DeFi schemes and stablecoins at reimagine 2020 conference

• The well-known self-proclaimed bitcoin creator, Craig Wright has recently taken a dig at the increasingly popular DeFi schemes as well as stablecoins which have taken over the market in a significant fashion.

• A virtual conference was recently hosted by Patrick MacLain over the weekend called Reimagine 2020.

The well-known self-proclaimed bitcoin creator, Craig Wright has recently taken a dig at the increasingly popular DeFi schemes as well as stablecoins which have taken over the market in a significant fashion.

A virtual conference was recently hosted by Patrick MacLain over the weekend called Reimagine 2020. At the event, Craig gave his harsh opinions on the projects.

Craig said that DeFi schemes are complete and utter scams that are run by people who only want to make a quick buck off other people’s money. He further added that the schemes are actually illegal and they were unregistered/unlicensed. Adding more fuel to the fire, Craig claimed that the creators of these schemes are essentially conmen and he even went as far to threaten to sue them.

Currently, the current state of the market has seen many of these projects gain more momentum. Projects such as Chainlink are seemingly doing really good in the markets as well as with the community.

Specifically talking about stablecoins, the self-proclaimed Satoshi Nakamoto said that they have no backing. However, stablecoins such as the USD coin have made it very clear to the public about their reserves. This is different to other projects of the same nature such as tether.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!