Whistleblower Frances Haugen, a former product manager who left her position at Meta (FB) last year and leaked thousands of internal company documents, told Yahoo Finance that she supports cryptocurrency for the same reason she disclosed the corporate secrets: Transparency.
In a new interview, taped on Feb. 9, Haugen voiced enthusiasm for cryptocurrency and praised decentralized financial networks as a new type of system that emphasizes democratic governance and increased disclosure.
"I do believe in the power of crypto," Haugen says.
She cited the emergence of DeFi, short for decentralized finance, which uses a public, distributed ledger to perform traditional financial functions that would otherwise rely on institutions like banks or national governments.
"We're getting new models of how to run financial systems, like the DeFi networks," Haugen says. "The rules are transparent — we all see exactly how they operate."
Since October, when she revealed her identity as a source of Meta's internal documents, Haugen has criticized what she considers a lack of transparency at the company.
In contrast, she lauded decentralized financial networks as a tool for greater corporate disclosure.
"I think there are interesting conversations around governance — these crypto projects are experimenting with new ways of doing corporate governance in terms of who gets to influence what decisions and how," she says.
I think there's going to be, unquestionably, sometime in the next five years...
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