Podcast: The Current State of DeFi Investing | Ben Forman

Jason Yanowitz and Santiago Roel Santos are joined by Ben Forman to analyze crypto trends in 2022, market sell-offs, and DeFi.

by Brianna Beckford /

January 27, 2022 09:22 am

In the latest episode of “Empire,” Blockworks’ co-founder, Jason Yanowitz and co-host Santiago Roel Santos, are joined by Ben Forman, managing partner at ParaFi Capital.

Ben launched ParaFi in 2018 after seeing the potential of DeFi. Now with around $1 billion AUM, he provides his thoughts on how the DeFi ecosystem has evolved. He also shares his insights into how the recent Jan. 19, 2022, market sell-off compares to March 2020, the explosive growth of stablecoins, opportunities in NFTs, gaming and the biggest crypto trends for 2022.

Plus, listen in to hear their thoughts on:

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Layer-1 Wars
DeFi then vs. now
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Check out what they had to say in the video below. 👇

About the show

“Empire” is a twice-a-week show. On Thursdays, Jason interviews crypto industry movers and shakers to talk about their struggles, bold moves and tough decisions. Friday’s weekly round-up episodes feature co-host, Santiago Roel Santos and cover the top news from the past week.

For any NPR or Guy Raz fans out there, you can think of “Empire” as a “How I Built This” for the bitcoin and crypto industry.

Subscribe to “Empire” today on Apple or Spotify. Watch episodes on YouTube.

Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.

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We believe that few tokens at the application layer are diverging more from fundamentals than ZORA. Its fully-diluted P/S sits at 90x, pricing significant growth despite a consistent decline in weekly revenues since late July. We foresee an 80% decrease in protocol net margins due to a recent update to the fee structure that reduces trading fees from 3% to 1%, while boosting creators’ portion of the fee split. ZORA’s supply overhang also represents a near-term headwind, with 45% of ZORA’s supply (4.5B tokens or $350M at current prices) earmarked for the team & investors beginning to unlock on October 23, 2025 (36-month linear vesting schedule).

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