The traditional banking system has been under significant pressure recently, as several major institutions faced liquidity crises or outright liquidations. In that environment, many are looking for an alternative, including crypto. After the collapse of a major Swiss bank, one controversial crypto entrepreneur placed a bid that raised eyebrows.
On Sunday, Tron founder Justin Sun offered to buy the recently bankrupt Credit Suisse for $1.5 billion. His supposed motivation – creating a more decentralized financial system.
“By integrating Credit Suisse into a crypto-friendly financial institution, we can pave the way for a more innovative and decentralized financial system,” Sun tweeted.
few in the crypto space saw Sun’s proposal as serious, owing to Sun’s questionable reputation. In the past, Sun was keen to give grandiose promises to attract attention. This ranged from pledging $5 billion in struggling crypto firms, to solving the FTX crisis.
In any case, the peculiar offer highlighted an interesting possibility – a Web 3.0 bank. But is a decentralized, user-ran bank even possible?
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