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FTX Showed the Problems of Centralized Finance, and Proved the Need for DeFi

The meltdown of Sam Bankman-Fried's crypto trading empire could not, and would not, have happened to a decentralized and transparent protocol.

FTX CEO Sam Bankman-Fried turned his back on the principles of decentralization and transparency, Serotonin CEO Amanda Cassatt argues. (Danny Nelson/CoinDesk)
FTX CEO Sam Bankman-Fried turned his back on the principles of decentralization and transparency, Serotonin CEO Amanda Cassatt argues. (Danny Nelson/CoinDesk)