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DeFi Mania Proves We Learned Nothing From the ICO Run-Up

DeFi is making money out of nothing but other people's misery. Five thousand years of history tell us how this tale will end.

"The South Sea Bubble, a Scene in 'Change Alley in 1720," (Robert Vernon/Creative Commons)
"The South Sea Bubble, a Scene in 'Change Alley in 1720," (Robert Vernon/Creative Commons)