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Home » $2 Billion Self-Hack Highlights DeFi’s Slow Crisis Reaction Problem – PYMNTS.com

$2 Billion Self-Hack Highlights DeFi’s Slow Crisis Reaction Problem – PYMNTS.com

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Decentralized finance has a control problem it must solve if it is to become the economic force supporters believe — and opponents fear — that it can become.And fear they do.In March, Deloitte wrote that in DeFi “traditional financial services face a potentially existential moment that may challenge traditional business models,” adding that it “represents the most significant disruptive force on the global financial system.”Not to be outdone, the International Monetary Fund in April added that the “absence of governing entities means DeFi is a challenge for effective regulation and supervision.”That said, DeFi appears to have developed an Achille’s heel, of sorts,… 

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