CeFi Broke. But DeFi Is Not Without Blame

DeFi has much to offer the world of finance. That DeFi smart contracts worked as promised in these highly stressed market conditions to keep intact the “systems” – if not the prices – is a good proof of concept on which to build a more robust, viable system. When you remember how, in scandal after scandal, Wall Street’s centralized intermediaries have bilked the global financial system for more than a century, it’s easy to see benefits of markets, rather than opaque gatekeepers, setting prices and rates.