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Fold posts $69.6M net loss but doubles down on bitcoin credit card expansion
📰 sources⭐ 7.0
TL;DR:
Fold's ambitious Bitcoin credit card expansion could redefine its market position, but sustaining financial losses poses significant risks. The post Fold posts $69.
Key Points:
Background:
Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.
Why It Matters:
DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.