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Crypto Selloff Proves Computer Code Leads To ‘Better Outcome’ Than Human Discretion - Arthur Hayes

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Pure decentralized finance (DeFi) protocols have fared far better than the more centralized crypto lending and borrowing companies during this bear market.

This proves that computer code and transparent standards give “a better outcome,” crypto essayist and former BitMEX CEO Arthur Hayes wrote.Going into detail on the collapse of crypto hedge fund Three Arrows Capital (3AC), as well as the issues faced by centralized lenders like Celsius (CEL), BlockFi, Babel Finance, and Voyager, Hayes argued that real DeFi platforms have escaped the market turmoil relatively unscathed.Compound (COMP), Aave (AAVE), and MakerDAO (MKR) were all DeFi protocols that played a part in the drama surrounding Three Arrows Capital, Hayes wrote.

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