{"id":165386,"date":"2021-01-28T21:48:57","date_gmt":"2021-01-28T18:48:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/defi-in-the-spotlight-as-legacy-brokerages-break-down\/"},"modified":"2021-01-28T21:48:57","modified_gmt":"2021-01-28T18:48:57","slug":"defi-in-the-spotlight-as-legacy-brokerages-break-down","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/defi-in-the-spotlight-as-legacy-brokerages-break-down\/","title":{"rendered":"# DeFi in the spotlight as legacy brokerages break down"},"content":{"rendered":"<p>&#8220;<strong># DeFi in the spotlight as legacy brokerages break down <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvZWNiNDNiNTgtMWJlNC00ZWQ3LWIyY2QtOTFkOTJiYmIxNTc1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>As legacy markets roil, brokerages break down and accusations of market manipulation fly, longtime decentralized finance adherents can\u2019t help but say \u201cI told you so\u201d when it comes to the need for open, unstoppable, permissionless financial architecture.\u00a0<\/p>\n<p>Earlier today, popular trading <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> Robinhood took the possibly unprecedented step of disabling the buying functionality on certain tickers following a massive wave of retail interest in heavily shorted assets. <\/p>\n<p>Some commentators have pointed out the irony of Robinhood \u2014 an app that in name, marketing and conception focuses on the principle of democratizing finance \u2014 now turning its back on what has been described as a popular revolt against deep-pocketed hedge funds. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">oh look it&#8217;s an advertisement for DeFi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Tx5IB43UPA\">https:\/\/t.co\/Tx5IB43UPA<\/a><\/p>\n<p>\u2014 Matthew Graham (@mattysino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mattysino\/status\/1354838420632133634?ref_src=twsrc%5Etfw\">January 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>In a statement to Cointelegraph, Sino Global CEO Matthew Graham said that the brokerage\u2019s failures are a prime example of the importance of DeFi:<\/p>\n<blockquote><p>\u201cRobinhood&#8217;s pinned tweet states, &#8216;We are all investors. Our time is now.&#8217; But their outrageous decision to suspend trading in GME and other stocks revealed their lie and only further highlighted the enormous importance of the building that we do every day in DeFi. It&#8217;s no wonder that even as Bitcoin&#8217;s price appreciation has cooled DeFi adoption continues its hockey stick trajectory.\u201d<\/p><\/blockquote>\n<p>Even before Robinhood cut off access to certain assets, users have\u00a0throughout the week been complaining about spotty service for multiple brokerages \u2014 prompting some to point out that an exchange like Uniswap can\u2019t be turned off and doesn\u2019t cater to any particular user. <\/p>\n<p>Aave chief operating officer Jordan Gustave said that user neutrality is a foundational element in DeFi&#8217;s architecture.<\/p>\n<blockquote><p>&#8220;In a world where deplatforming, disenfranchisement and unequal access to finance is a reality to most, the importance of open finance and protocols like Aave can&#8217;t be understated. Those building blocks called &#8216;DeFi&#8217; are keystone of a math-based, market and politically neutral financial infrastructure.\u201d<\/p><\/blockquote>\n<p>BadgerDAO founder Chris Spadafora echoed that sentiment.\u00a0<\/p>\n<p>\u201cBadger\u2019s goal is to enable users to use their bitcoin in open finance without the need to trust centralized platforms,&#8221;\u00a0said Spadafora. &#8220;That means no matter who they are, their opinions and\/or their actions, they have the right to freely participate with their capital.\u201d\u00a0<\/p>\n<p>While it remains to be seen if the volatility and accusations of wrongdoing in traditional markets will lead to a wave of adoption, DeFi developers haven\u2019t hesitated to seize this moment \u2014 one that they\u2019ve long been preparing for. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/defi-in-the-spotlight-as-legacy-brokerages-break-down\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# DeFi in the spotlight as legacy brokerages break down &#8221; As legacy markets roil, brokerages break down and accusations of market manipulation fly, longtime decentralized finance adherents can\u2019t help but say \u201cI told you so\u201d when it comes to the need for open, unstoppable, permissionless financial architecture.\u00a0 Earlier today, popular trading app Robinhood took&#8230;<\/p>\n","protected":false},"author":1,"featured_media":165387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvZWNiNDNiNTgtMWJlNC00ZWQ3LWIyY2QtOTFkOTJiYmIxNTc1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,71407,10401],"class_list":["post-165386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-trading","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=165386"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/165386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/165387"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=165386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=165386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=165386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}