The first decade of crypto can be described as a decade of financial experimentation, characterized by an unusual combination of innovation, speculation, fraud, successes, and failures. This open, global environment, operating 24/7, was also marked by bubbles, hacks, and many short-lived projects. Today, major Wall Street financial institutions are drawing inspiration from the most promising mechanisms developed in this decentralized space. This evolution suggests that certain innovations born from decentralized finance have now found their place within the traditional financial system.
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