Despite Alameda’s lack of risk mitigation procedures, it appears those in charge of liquidations may be as gung-ho as the previous leaders.
Many DeFi hacks and exploits are down to smart contract vulnerabilities, from which there is generally no recourse.
How decentralized are DeFi protocols with a small group of leaders with admin keys, multi-sig wallets, and wealth-based voting policies?
While decentralization is one of crypto’s main tenets, it’s likely that more centralization could have stopped the fall of crypto giant FTX.
AAVE could eventually be looking to dispose of billions of dollars’ worth of illiquid collateral if markets take another downturn.
- Opinion: Charles Hoskinson would be the worst thing to happen to CoinDesk
- Binance admits it commingled customer funds with token reserves
- BBC chair linked to Russian crypto firm faces inquiry over BoJo loan
- Federal Home Loan Banks are bailing out crypto
- The deep ties between Binance, Bitzlato, and darknet market Hydra
- Silvergate in crisis: Billions withdrawn, liquidations and losses mount
- Why Serbia makes sense for crypto fugitive Do Kwon
- How many times will Alameda Research liquidators get liquidated?
- What’s happening with Binance’s $2 billion recovery fund?