Galaxy Digital’s first over-the-counter (OTC) option trade, executed earlier this week, marks a tangible step toward bringing the conventional financial system onto decentralized finance (DeFi) infrastructure.
FTX’s blowup and the collapse of several crypto lenders brought attention to the risks of centralized finance (CeFi) – AKA trusting one’s money with a company, rather than a protocol – providing a tailwind for DeFi. Galaxy said in a statement that recent market events have highlighted the vulnerabilities of traditional bilateral options trading.
“One thing that 2022 has told us is that DeFi performed exceedingly well while CeFi and some traditional methodologies for transacting had some challenges,” Jason Urban, Galaxy’s global head
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