Traditional finance (TradFi) is facing serious challenges, highlighted by recent scandals in the industry. On November 8th, 2022, the mismanagement of centralized finance collided with crypto, as the infamous centralized exchange FTX, owned by Bankman-Fried, unraveled to the tune of 8 billion dollars.
The FTX administration used little to no accounting or accountability policies and was using customer funds to illegally prop up inexperienced crypto investing giants Alameda Research. This scandal and many of the financial issues affecting the world today, such as the banking crisis of 2008 and the one that the US is currently facing, were only possible due to the nature of the closed and centralized world of traditional finance, where big players get to do what they want without proper accountability or trails.

The Paradigm is Shifting
A new way is emerging in the world of blockchain and cryptocurrency. Decentralized finance (DeFi) is a rapidly growing ecosystem of financial applicatio

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