The US is rapidly changing its stance towards the cryptocurrency industry, especially in certain states. While regulations are still nowhere in sight, more and more states are opening doors to crypto, and some are even entering a race to become the country’s crypto hubs.
For example, at the same time China was forcing out miners in a series of crypto crackdowns, Miami Mayor Francis Suarez invited crypto miners to come to his city to mine Bitcoin with nuclear energy. Now, it appears that Mayor Suarez has a competitor, from New York City no less.
NYC’s new Mayor-Elect, Eric Adams, publicly announced on Twitter that he will take his first three paychecks in Bitcoin. He has plans to make NYC the US center of the crypto industry, as well as other fast-growing industries. The move caused a lot of interest in crypto, attracting praise even from the likes of investors Cameron and Tyler Winklevoss, Galaxy Digital CEO Mike Novogratz and others.
Now we hear from a key player in the decentralized finance industry, Alex Lemberg, the CEO of DeFi’s Nimbus Platform and NYC resident for over 43 years.
Alex Lemberg and the Nimbus Platform
Lemberg has spent nearly 3 decades in financial services, from traditional finance to alternative assets, managing a full range of financial products. Included on his impressive resume are positions in bulge bracket organizations, capital markets, and starting the data visualization for business intelligence for Cisco funds. He spent half his career in operations, strategic services and R&D.
Nimbus Platform offers an easy and efficient access point to the best that the DeFi sector has to offer. The DeFi hub features 15 customizable earning strategies, reward calculators, rich sources of market data, and other useful benefits for those interested in exploring and participating in the new crypto industry. It also allows users to participate in lending pools, generate rewards in exchange for providing liquidity, and numerous different staking options, all of which are highly popular services on the platform right now. According to its total value locked (TVL), representing the sum of all DeFi assets, Nimbus platform is currently among the top 10% of DeFi projects as the 141st out of 1525 registered projects in total.
Lemberg’s View on NYC and Crypto
Commenting on Adams’ new move, CEO of the Nimbus Platform said that having a NYC Mayor who loves crypto is an amazing thing for the crypto space and the future of regulation. The city now has the potential to become a major center for decentralized finance, blockchain, and cryptocurrency.
With Lemberg’s history in finance, he has a pretty good idea of what to expect in this industry and believes that New York could take the lead in technology and investment in cryptocurrency. He also sees institutional banking and institutional finance moving to blockchain in general.
Although some banks and hedge funds have left New York, Lemberg points out that traditional institutions are still very much present in the city, even if they do not enjoy a monopoly. And, as banks and financial institutions start making their way onto DeFi platforms, he predicts that processes will improve, becoming easier to use. At that point, the companies located in NYC will have the advantage of a central location for human-scale business activity, such as in-person meetings. Since the city is the traditional financial capital of the world, Lemberg believes there is no reason for it to not become the same for decentralized finance also.
In fact, it makes sense for NYC to follow this path, as centralized and decentralized finance are getting more and more interconnected. This potential will allow NYC to win the race to become the crypto hub of the US.