DeFi
Image Source: Unsplash

2020 has been a year of change for the digital asset sector. It has been particularly so when it comes to the DeFi sector, which has grown into a multi-billion dollar industry in the past few months. The year has seen a massive surge in DAOs and Jacob Newman, a renowned investor, has been paying attention. He recently announced that he was joining the DeFi Sector.

Jacob Newman Enters the DeFi Sector

Jacob Newman, the former CEO of Invest Green USA, has added momentum to the DeFi sector by highlighting a wealth-creation vehicle modeled after the early days of Bitcoin. Newman is an investor and entrepreneur who began his career in the business world by investing in digital asset startups. He now plans to make a huge impact on the DeFi sector, which will start with the bold move of selling his majority stake in Invest Green. Newman plans to deploy the proceeds into a new coin that he pioneered, called “The American Bitcoin.”

According to a recent announcement, Newman states that part of the appeal of Bitcoin is the decentralization of wealth. He notes that there is no intermediary skimming off the top. The new DeFi venture that Newman will launch is part of something greater, according to the investor. 

The Newman Mission

Newman has a mission of wealth redistribution, which will change the US for the better. His aspirations as a politician fit well into this mission. The announcement notes that a decentralized banking system would make it possible to use money more efficiently. 

According to the announcement, it would be a long-term investment. The full supply would be released over time, mimicking the Bitcoin model. The announcement noted that if someone had invested $100 a decade ago, it would be worth over 200 million today. His model will replicate the economics of Bitcoin, and help people further diversify their capital into another deflationary asset. 

Newman has a dream of restructuring the banking system in the US and restoring control to the population. The announcement noted that the government had tens of trillions in debt and a heavy tax system. As a result, money continues to lose its value as time progresses.

Moving Forward

The announcement concluded with a quote from Thomas Jefferson which talks about a happy future for Americans if they can keep the government from wasting their labors. It proceeds to state that Newman could make this aspiration by Jefferson a reality. The name drop and launch will take place around October 2020. it will then launch on major exchanges by early 2021.

DeFi
Source: Instagram (jdnewman89)

Like any other project in the DeFi space, it is important to take precautions before investing in a project. The details are scanty right now, and assessing the project is difficult based on the early maturation. However, Newman provided an Instagram link where those interested could follow up on developments through his page.

It is difficult to assess Newman’s track record based on companies like Invest Green being private entities. According to the companies website, Invest Green helps educate people on trading cannabis stocks. Despite there being no mention of Invest Green being registered as an advisor, Newman still saids on his Instagram bio that he is managing $50 million in assets. It is unclear what type of vehicle he is using to manage assets of such size. 

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

Bitcoin Hash Rate Falls -20% Post Halving, Miners Face 1st Non-Profitability Scenario

The 3rd Bitcoin halving was a significant event for various reasons. In…

Apple Cryptocurrency? Tim Cook Clarifies Not in Agenda, Apple Pay VP Differs

“A private company shouldn’t be looking to gain power this way”, this…

The Crypto Chart Nobody Is Watching – Bitcoin Markets Enter Very Important Stage

Bitcoin markets have been exciting in 2019 as regulation moves forward and…
Best Crypto Wallets 2023

Best Crypto Wallets 2023 – Check Out These 10 Different Wallets

Choosing the right cryptocurrency wallet is crucial for the safe keeping of…

Ripple Launches xCurrent 4.0 to Ease Cross-Border Payments for Partner Banks

Photo Cred To Coin Tuyo Via Flickr Ripple is widely known for…

Coinfloor Exchange Plans To Solely Focus On Bitcoin, Placing Brand Recognition Above All

Coinfloor, a London-based oldest crypto exchange set to focus solely on Bitcoin,…

SEC May Be Going After Crypto Initial Exchange Offerings ( IEOs )

Initial Coin Offering (ICO) might be dead for people, but the regulators…

Yet Again – Ripple Escrow Wallet Transfers 200,000,000 XRP to Ripple

Whale alert, an account that tracks on-chain settlement for coins recently traced…

Crypto Friendly States: Wyoming Cryptocurrency Innovation Is Drawing Attention

A short while ago, the state of Wyoming had some of the…

Bitcoin, Ethereum and XRP Price Analysis, Where is Momentum Heading?

Bitcoin: BTC is currently sitting in the $11,800 region as of 1:33AM…