FOREWORD CRYPTO CRASH & THE DEFI DREAM
The news that the cryptocurrency markets had catastrophically crashed has sent investors into a tailspin
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The latest drama in the cryptocurrency space has had even the steeliest of investors gripping the arms of their chairs . As Bitcoin took an unexpected tumble – but then duly bounced , other currencies didn ’ t fare so well .
The so-called stablecoin Terra , for example , proved it was anything but by tanking in value by 99 % – a pretty shocking outcome for those banking on its less volatile references . And , although the markets will no doubt recover in due course ( if anything can , crypto can ) this event looks set to have a seismic effect on the digital currency marketplace .
As the pressure mounts from worldwide governments for increased regulation in DeFi , incidences like this one demonstrate that crypto will always be an uncertain bet for investors .
And herein lies the quandary – because those who started crypto , did so because they shunned regulation and dreamed of a digital economy that could not be manipulated by tin-pot global dictators ( sorry – government chancellors ).
And yet , the very success of their invention will no doubt be the death knell of the dream they envisaged . It ’ s a sad state of affairs for the purists as the commercial crowds clamour for all the benefits digital currency offers , without any of the wild west rides that made it so exciting and rebellious in the first place .
Freedom always comes at a cost – and ultimately , those who embrace crypto in its current state , believe it is worth the risk . Do you ?