Martin Shkreli (a former hedge fund manager and convicted felon) spoke out about cryptocurrency use and the decentralized trading platform Uniswap, which he received from a federal penitentiary. The so-called ‘Pharma Bro’ further explained that eventually, a crypto entity could dethrone some of the largest banking giants.
Martin Shkreli talks about Defi and cryptocurrencies
Martin Shkreli, who was in federal custody since September 2011, has been freed from prison and is currently located at a New York halfwayhouse. Shkreli’s federal custody will end in September, and as soon as he got out of prison he took to his social media accounts to speak. On Facebook, Shkreli jokingly said that getting out of jail was “easier than getting out of Twitter prison.”
Shkreli is a former hedge fund manager and he’s infamous for purchasing the license to a pharmaceutical drug called Daraprim. It wasn’t the fact that Shkreli’s firm Turing bought the drug, but that the company raised the drug’s price from $13.50 to $750 per pill in 2015.
Shkreli is also known for his interesting personality and being extremely cocky. The so-called ‘Pharma Bro’ was eventually convicted of securities fraud in a case completely unrelated to the Daraprim price increase. Shkreli is also known for buying an unreleased Wu-Tang Clan record, which was seized after he was convicted of securities fraud.
The Wu-Tang Clan’s unreleased Wu-Tang Clan album was purchased by a non-fungible token art group for $4 million. Shkreli was sentenced for seven years, but he managed to escape early after completing good behaviour or a shorter-sentence.
On Saturday, during a Twitter Spaces post, the former hedge fund manager seemed to go from a so-called ‘Pharma Bro’ to a ‘Crypto Bro.’ Shkreli also said he leveraged the decentralized exchange (dex) platform Uniswap from behind bars.
“Uniswap is really cool. I started using Uniswap in prison,” Shkreli told his Twitter Spaces’ attendees. Shkreli believes wholeheartedly that the crypto ecosystem is possible and that decentralized finance (defi) can be achieved. This was the statement of a convicted felon
I don’t think [defi’s]The limit is what it will go. I think we’ll see more and more financial products that end up in defi… eventually, we’ll see some crypto entity be bigger than the banking behemoths.
Shkreli Talks Bitcoin Dominance. Ethereum, Solana and Algorand.
Shkreli said that BTC dominance may get “eaten away,” and the entrepreneur also commented that companies like Apple and Tesla should have their own coins. “There are so many ways we can do things with [decentralized finance],” Shkreli remarked. “There should clearly be an Apple coin and a Tesla coin,” he added.
Shkreli also discussed blockchain networks, such as Algorand or Solana. Shkreli pointed out that Ethereum might be one of the competitors to BTC dominance in their discussion. “It’s hard for that not to happen given the use cases of ether,” Shkreli explained.
The former hedge fund manager likes to tell people about what he’s doing and had no problem with telling his fans he used Uniswap in prison. Uniswap’s founder Hayden Adams discussed Shkreli after the Twitter Spaces topic started to trend on social media. “Will Shkreli still like Uniswap when he learns I listened to that [Wu-Tang Clan] album he bought more recently than him?” Adams said.
You think Shkreli used Uniswap to get out of prison. Comment below and let us know how you feel about the subject.
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