The FTX collapse is no different than a long list of other corporate failures we have witnessed in the past from centralized entities. Enron, Lehman Brothers, and the financial crisis in 2008 all failed due to greed, incompetence, and fraud. A lack of transparency and massive leverage is a recipe for disaster. DeFi can help solve these issues in the years ahead. DeFi removes these intermediaries and replaces them with smart contract protocols built on open and transparent blockchain technology.” – Stuart McKinnon, CEO, MetaTech Capital Partners
Read the rest of the article here: https://medium.datadriveninvestor.com/defi-will-always-be-better-than-cefi-and-ftx-just-proved-it-99cc726d7fc5