DeFi Summer; Bitcoin Fall

<p><span style="font-weight: 400;">Today on the Brief:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Coinbase offers severance to employees who want to leave over new politics policy</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Long-term job cuts hamper any idea of V-shaped recovery</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Last chance for a stimulus package before the U.S. presidential election</span></li> </ul> <p><span style="font-weight: 400;">Our main discussion is a narrative shift from DeFi back to</span> <a href= "http://coindesk.com/price/bitcoin"><span style= "font-weight: 400;">bitcoin</span></a><span style= "font-weight: 400;">. </span></p> <p><span style="font-weight: 400;">Over the summer, DeFi led the crypto charge. From growth in total value locked to narrative dominance to even leadership in the all important category of crypto drama, DeFi was it. </span></p> <p><span style="font-weight: 400;">Now, as a potentially turbulent macro environment rears its head, the narrative is shifting back to a focus on bitcoin.</span></p>