For users who still believe in crypto's value proposition, Hosp said such individuals are now likely to switch to self-custody. selfcustody defi cryptoexchange
Defi Chain Co-Founder: FTX's Collapse Has Rekindled Interest in Defi and Associated Products According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance and associated products.
Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to adopt a harder line when dealing with crypto entities.While the massive failure of crypto exchange FTX and the chaos that followed is likely to embolden hardline regulators, experts like Julian Hosp ofbelieve the ensuing loss of trust in centralized institutions will likely rekindle user interest in decentralized finance and associated products. For users who still believe in cryptocurrency’s value proposition — a viable alternative to centralized finance — Hosp said such individuals are likely to switch to self-custody.by Bitcoin.com News, many users — seemingly spooked by the sheer scale of FTX’s misuse of client funds — have been removing their assets from centralized crypto exchanges. In some cases, the unusually high volumes of withdrawal requests have seen exchange platforms struggle or fail to process these in time. In contrast, defi platforms like Uniswap and Defi Chain have seen their respective traded volumes spike in the same period. To illustrate, Uniswap posted a tweet on Nov. 14 which indicated that the number of active daily wallets on the defi platform had increased to 55,550, a new record. The tweet could suggest that Hosp and other crypto experts’ prediction is already turning out to be correct.Self-custody and transparency are in demand and users are flocking to what they know and trust.
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