The advantage of crypto and DeFi is that it’s possible to have everything be 100% transparent and visible on chain. It’s also possible for users to self custody

The advantage of crypto and DeFi is that it’s possible to have everything be 100% transparent and visible on chain. It’s also possible for users to self custody funds which avoids this issue entirely. Exchange failure is mostly an independent phenomenon from the new capabilities of the underlying tech. This was an execution by a rival: https://twitter.com/sbf_ftx/status/1590709197502812160?s=46&t=tmEd-x_mjtxKMN0es0ARBA https://twitter.com/sbf_ftx/status/1590709197502812160?s=46&... (tweet #20) though SBF is right that he fucked up and shouldn’t have been in this position. That FTX US is fine is decent evidence that the regulations there do protect users.