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Cryptocurrency fallout delivers sharp kick to decentralised finance dreams

Some networks have reneged on commitments to arms-length management

©The Financial Times Limited 2020 Jun 23, 2022 / 12:28 PM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
Cryptocurrency fallout delivers sharp kick to decentralised finance dreams

Photographer: Angel Garcia/Bloomberg

Scott Chipolina in London Crypto networks that pledged to put users in control have put themselves in charge as they try to survive the deepening crisis gripping the digital asset market. In the past week, three decentralised finance groups have stepped in with emergency plans to protect their projects and users from economic pain in the face of tumbling cryptocurrency prices. The three platforms — Maker DAO, Bancor and Solend — are not household names. But they are prominent in the world...

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