Venture Capitalist Arthur Cheong Names Top Altcoin Picks, Including Synthetix (SNX), Aave and One Additional Crypto
DeFiance Capital CEO Arthur Cheong says he’s watching three altcoins that he believes are fulfilling crypto’s strongest narratives.
In a new interview with the When Shift Happens YouTube channel, Cheong says that crypto and blockchain technology are primed to fulfill the needs that the fintech industry once catered to.
“Crypto and blockchain are well positioned to abstract away. And I think this is still true right now.
Obviously, there are a lot of issues, but from a first-principle perspective that makes sense. So I think this makes it worth investing in, and I think in the sense that you can say DeFi (decentralized finance) is a better form of fintech in a way…
I think fintech doesn’t actually bring anything new to finance anymore because whatever the technology part can bring to finance, the bank can do it themselves. The banks are doing the robo-advisors themselves, the banks are doing all these things themselves. They’re probably a bit slower but it’s not something they can’t catch up to in two or three years, so there’s nothing really new there that fintech is bringing to the financial world.”
Cheong names DeFi protocols Synthetix (SNX) and Aave, plus crypto gaming project Axie infinity (AXS) as altcoins that he’s particularly bullish on.
“But I think that DeFi is fundamentally a different paradigm. It’s a different way of organizing the financial world. This is a sector worth investing in, so this has led me to invest in Synthetix, AAVE early on. Same for Axie [Infinity], which I think that looking at so many sectors, I think that gaming is also one of very few that makes sense with crypto.”
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