Hey DEFI TIMES community,

The B Word Conference took place on Wednesday. Probably the single most important discussion was between Elon Musk, Cathie Wood, and Jack Dorsey.

Of course, all eyes were on Elon and what he had to say about Bitcoin. The expectations weren’t quite high, to say the least. Despite Tesla owning Bitcoin, Elon has been trolling around on Twitter - criticizing and making fun of Bitcoin in general!

However, Elon’s arguments turned out to be quite constructive. Some of the main takeaways from the conference were:

1. Elon personally owns Bitcoin

2. SpaceX put Bitcoin on its balance sheet

3. Elon personally owns ETH

4. Elon is interested in DeFi

What happened? From my observation, the way Elon presented himself on Twitter didn’t quite meet reality. Elon is still a supporter of crypto and decentralization!

But if Elon supports Bitcoin and crypto, why did he criticize it on Twitter?

Well, the answer is pretty simple and we can find it between the lines of what Elon said during the interview.

“If the price of bitcoin goes down, I lose money. I might pump, but I don’t dump. I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”

Elon doesn’t want to use his influence to pump up the price and then sell for a profit. He wants Bitcoin to win long-term!

By pointing out some of Bitcoin’s weaknesses, he was able to change the narrative of crypto in a sustainable direction.

Crypto is antifragile! What doesn’t kill us, makes us stronger!

Maybe that was Elon’s plan all along!

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USDC Backing

DEFI TIMES @defitimes

Circle reveals FULL BACKING of the popular stablecoin USDC! 🚀 Read more! 👇 defitimes.io/news/circle-re…

defitimes.ioCircle Reveals Backing of Stablecoin USDC - DEFI TIMESCircle, the company behind the popular stablecoin USDC, revealed that every single USDC is backed by real assets.

6:16 PM ∙ Jul 21, 2021

Circle, the company behind the popular stablecoin USDC, has revealed that USDC is fully backed.

Ark Invest

DEFI TIMES @defitimes

JUST IN: Ark Invest bought the dip again! This time, more square stocks! 🤑 Read here! 👇 defitimes.io/news/ark-inves…

defitimes.ioArk Invest Buys More Square Stocks - DEFI TIMESArk Invest bought more Square and Coinbase stocks during the price pull-back of bitcoin. More institutions could choose this path as well.

7:39 PM ∙ Jul 19, 2021

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Ark invest bought more Square stocks!

Grayscale DeFi Fund

DEFI TIMES @defitimes

BREAKING: @Grayscale to launch a DeFi fund with major tokens! 🚀 Read more! 👇 defitimes.io/news/grayscale…

defitimes.ioGrayscale Launches an Institutional-Grade DeFi Fund - DEFI TIMESGrayscale Investments is going to launch a DeFi Fund, which will include an index - said Grayscale CEO Michael Sonnenshein.

3:59 PM ∙ Jul 19, 2021

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Grayscale will launch a DeFi fund - around 50% of the funds will be allocated to UNI.

Aave Twitter alternative

DEFI TIMES @defitimes

BREAKING: @AaveAave will launch a Twitter alternative on Ethereum! 🚀 Read more here! 👇 defitimes.io/news/aave-to-l…

defitimes.ioAAVE To Launch A Twitter Alternative - DEFI TIMESAAVE CEO Stani Kulechov announced to launch a decentralized Twitter alternative in 2021. AAVE is not the first crypto project with that aim.

12:33 PM ∙ Jul 19, 2021

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Aave will launch a Twitter alternative running on Ethereum! Will decentralized social media finally take off?

Reddit Community Points on Arbitrum

Arbitrum is hiring @arbitrum

We are ecstatic to announce that @Reddit is scaling Community Points on @ethereum using Arbitrum! 🎆 reddit.com/r/ethereum/com…

reddit.comr/ethereum - Scaling Reddit’s Community Points with Arbitrum579 votes and 110 comments so far on Reddit

5:25 PM ∙ Jul 22, 2021

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Arbitrum announced that Reddit will launch its community points on their optimistic rollups solution.

Harvest on Polygon

Harvest Finance @harvest_finance

We are now live on @0xPolygon ! Kicking this off with the introduction of 3 vaults across @QuickswapDEX & @SushiSwap Minimize fees & maximize yields today at harvest.finance 🚜 medium.com/harvest-financ…

medium.comHarvest is now on PolygonWe are excited to announce that Harvest is now on Polygon accompanied by the launch of vaults on Quickswap & Sushi! Starting today, our farmers can deploy their assets on three new vaults that…

2:53 PM ∙ Jul 20, 2021

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The popular yield aggregator Harvest is now live on Polygon, with some vaults launching on Quickswap and Sushiswap.

Maker decentralizing

Maker @MakerDAO

A final Maker Foundation message from CEO Rune Christensen (@RuneKek):

blog.makerdao.comMakerDAO Has Come Full CircleBy Rune Christensen, Maker Foundation CEO MakerDAO is now completely decentralized. With several Core Units approved by governance to efficiently

4:03 PM ∙ Jul 20, 2021

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The Maker Foundation has announced that it will close its operation and hand over control over the protocol fully to the community.

Shapeshift DAO

Erik Voorhees @ErikVoorhees

Today, we announced that ShapeShift is decentralizing. Unorthodox, but it is the only way to maintain fidelity to the most important principles of crypto; specifically, self-sovereignty over money. Without that principle upheld, we’re all just LARP’ing. A thread…

3:58 PM ∙ Jul 14, 2021

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Shapeshift announced that it will be “shapeshifting” to a DAO. Shapeshift LLC will dissolve while handing control over to the community.

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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.