>>This isn't to say that decentralized finance is exactly the same as traditional finance, because it isn't. This has nothing to do with decentralized finance.

>>This isn't to say that decentralized finance is exactly the same as traditional finance, because it isn't. This has nothing to do with decentralized finance. FTX was a traditional centralized financial institution catering to crypto. The leading DeFi apps have had no problems this cycle, and that's because they're fully on-chain, with every transaction validated atomically/in-real-time to ensure its business logic integrity. DeFi's transparency and accountability is what the best CeFi firms strive for. The big risk with DeFi is the possibility of a smart contract vulnerability, but this diminishes over time as these apps have their source code reviewed by more people and go through more real world battle-testing.