Many things have broken in the last few months during crypto's bear market. However, DeFi didn't break. Dan Morehead and Joey Krug explain why. Dan founded Pantera in 2003, then pivoted into cryptocurrency in 2013 and went all in on crypto, and is the firm's CEO. Joey joined Pantera in 2017 as co-CIO and is a seasoned builder/investor in the crypto space. Both repeat Bankless guests and both know more than a thing or two about crypto and investing. ------ ?Rhino.Fi | Massive Mystery Airdrop https://bit.ly/3o9trRE  ------ ? SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  ?️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ? LENS | ACCESS CODE: WAGMI https://bankless.cc/Lens  ? ROCKET POOL | ETH STAKING https://bankless.cc/RocketPool  ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  ? BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  ? JUNO | BRIDGE FIAT TO LAYER 2 https://bankless.cc/Juno  ⚡️ ZKSYNC | THE LAYER 2 SCALING ENDGAME https://bankless.cc/zkSync  ------ Timestamps: 0:00 Intro 6:15 The Past Few Months 10:28 Crypto's 2008 Moment 12:40 The Mainstream Media Story 16:45 CeFi vs. DeFi Confusion 21:45 Media Incentives 24:00 DeFi vs. Wall Street 30:45 DeFi is Too Referential Critique 33:38 DeFi Worked Great 37:05 Transparency Thoughts 43:15 2008 Prevented with DeFi? 49:35 Educating Retail 53:39 Was This Surprising? 55:00 Quick Macro Takes 58:20 Closing & Disclaimers ------ Resources: Dan Morehead https://twitter.com/dan_pantera  Joey Krug https://twitter.com/joeykrug  DeFi Worked Great https://panteracapital.com/blockchain-letter/defi-worked-great/  Pantera https://panteracapital.com/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures