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Erik Voorhees highlights how crypto will be crucial to destroying greed on forex exchanges. He cited that the decentralized nature of DeFi is the specific solution.
ShapeShift CEO Erik Voorhees took to X this weekend to share his opinion on how cryptocurrency and the Decentralized Finance (DeFi) ecosystem could mark the end of foreign exchange greed. His post was in response to an experience that Hayden Adams had at an airport in Europe.
The entire conversation began with Uniswap Founder Hayden Adams sharing that he had recently visited an airport in Europe.
While he was there, he discovered that “spreads on euro/usd were 20%.” In his opinion, EUR/USD is the most liquid forex pair found anywhere around the globe. However, Adams suggested that the transaction fees were quite high.
Based on what he tagged “the absolute greed of tradfi,” which is unmatched, the crypto boss noted that DeFi is definitely out to replace it. Somewhat concurring with this stance, Erik Voorhees noted that greed is ever-present, whether one is dealing with traditional financial systems or blockchain.
Greed in tradfi is little different than greed in crypto
Greed is ever present… it's a derogatory term for profit maximizing, which all people engage in.
When you see a disparity such as this forex pair at the airport, it's not due to excess greed (indeed the greed of a… https://t.co/zJpgc93VVf
— Erik Voorhees (@ErikVoorhees) October 4, 2025
He explained that the kind of greed observed in TradFi is quite different from that seen in the crypto space. Voorhees believes that greed is only a derogatory term for profit-maximizing, a practice that every businessperson engages in.
He attributed the excess greed identified by Adams in the European airport to a case of inefficiencies caused by several factors, like the state of the market or regulatory constraints.
“It’s illegal for an app developer to offer frictionless forex trading on a mobile device, in which funds can be instantly paid, also from the phone to any vendor. It’s not in your hands because of regulations. Greed of the businessman takes the blame, but the culprit is the unseen folly of regulatory machinations,” the ShapeShift CEO explained.
The quest for control largely drives this entire scenario; however, with crypto’s decentralized nature, this is hardly the case.
The blockchain system runs on sophisticated technology that takes away control from an individual and transcends machination. Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many others are gradually becoming the choice of many institutional investors.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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October 4th, 2025
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