I released the code on a mailing list. You released your savings into a liquidity pool. We are not the same.Satoshi Nakamoto (not really)
One of these releases changed the world. The other changed your net worth — in the wrong direction.
Decentralized finance, or DeFi, refers to financial services built on blockchain networks that operate without banks or brokers. Starting around 2020, DeFi protocols let users lend, borrow, and trade crypto assets through smart contracts. At its peak, over $180 billion was locked in DeFi protocols. It also produced some of crypto's most spectacular failures, with billions lost to hacks, exploits, and rug pulls.
If you liked this quote, you'll love hearing Satoshi's voice. 21 comedy podcast episodes of fake intercepted transmissions from the creator of Bitcoin.
Listen Now →