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DeFi Giant Spark Shelves Crypto App Plans to Focus on Institutional Infrastructure

DeFi Giant Spark Shelves Crypto App Plans to Focus on Institutional Infrastructure

“We had an internal discussion and we’re going to put it on pause for now just because we view our edge as largely in the DeFi-native crypto space,” Sam MacPherson, CEO of Phoenix Labs, told CoinDesk in an interview during Devconnect Buenos Aires. “We are not builders of consumer apps, and this space is very competitive.