Crypto Black Friday, it can always get worse Last week's liquidation event wiped out tens of billions of dollars from the market. Every alt got massacred with tokens going to near zero It's clear something broke. Someone got carried on a stretcher and we don't know who it might be, maybe a MM, an exchange, or a lender Such shocks have after effects that are felt months from now. Remember, how it took months after Luna's collapse for the "contagion" to start. Everyone pretended it was normal, but in reality funds like Funds 3AC and lenders like Celsius were on death bed It's possible that we might be just okay, but it's also possible we see a repeat of it. We truly don't know anything with centralized entities This will accelerate onchain and DeFi adoption, just like 2022 did All of the top DeFi apps came unscathed out of this, and we can actually verify this Why would you risk your funds on a CEX where you have no certainty of their solvency? It doesn't make sense, and the risk is just too high We are entering the next chapter of the DeFi renaissance 🫡