In a twist of fate reminiscent of a shifty tale spun in the shadows of Moscow, the infallible architect of DeFi, Andre Cronje, has finally cracked the silence and flicked a strand of thought into the ether regarding why he forsook the crypto crusade back in the arduous year of 2022. Accompanied by that ever-charming co-conspirator of chaos, Anton Nell, our hero faced a particularly ferocious storm conjured by the U.S. Securities and Exchange Commission—a beast with teeth sharper than a battle axe!
Andre Cronje spills the beans: SEC’s not-so-gentle nudge sent him fleeing!
Behold! The conjurer of Yearn.Finance (YFI), Keep3r (KP3R), and many other bewildering mechanisms that tickle the fancy of the decentralized financial system, Cronje found himself at odds with the notorious U.S. regulators in a comically tragic ballet of accusations towards the sacred vaults of Yearn, which they curiously dubbed “investment mechanisms”. Oh, the irony!
Why did I quit in 2022?
— Andre Cronje (@AndreCronjeTech) January 28, 2025
On this fateful day, January 28, 2025, our beleaguered hero unmasked his thoughts on a quaint little blog, revealing himself as the “Father of DeFi.” For nearly two tiresome years, he played the game of cat and mouse with faceless accusers, all while trying to keep his ingenious creations from taking a wayward tumble into oblivion.
The U.S. regulators, akin to an inquisitive cat, quite fancied the morsels they imagined Cronje must be pocketing from Yearn.Finance (YFI) and Keep3r (KP3R). Lo and behold! He earnestly claimed that right from the get-go, he garnered naught—a splendid goose egg! No fees! No team! No founder! A mere wanderer among the chaos of crypto who visited the U.S. just once…to catch a whiff of the drama, no doubt!
All in all, this took 2 years of my life and finally culminated in a point where I was essentially given a choice. I can keep trying to build things for free, receive no benefit, spend hours of my energy and time to release this code into the wild, while needing to constantly face these attacks and have to spend months of my life and real money to defend it. Or I need to step away. After 2 years of needing to deal with this every month, and endless sleepless nights and stress. I chose the latter.
In a stroke of irony worthy of Gogol, Cronje, before sailing off into the sunset of retirement, unleashed a feast of posts on the intricate dance of regulation in DeFi, all while being ensnared by the investigators’ chains of secrecy over the SEC’s pettifogging allegations.
Cronje’s phoenix rises: Sonic (S) breaks $350 million in TVL!
As heralded by the oracle known as U.Today, the duo audaciously waved goodbye in March 2022, triggering a seismic upheaval in the lands of DeFi tokens. Fast forward to the present: in 2023, lo and behold, he returns—like a forgotten hero in a long-lost tale—not as himself but as the visionary behind the recently rebranded Fantom (FTM) blockchain now reborn as Sonic (S). Is it any wonder that this new avatar has become one of the speediest layer-1 networks in the blockchain arena?
Ever since the grand announcement, its aggregated Total Value Locked has jumped up by an impressive 66%! 🏎️💨 Who knew leaving the scene could result in such a magnificent comeback?
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2025-01-28 19:36