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The Times

Cryptocurrencies are great for gambling – but lousy at liberating our money from big central banks

  • Written by John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra
Cryptocurrencies are great for gambling – but lousy at liberating our money from big central banksShutterstock

The dream that decentralised finance – or “DeFi” – can free the monetary system from the clutches of governments and banks has helped launch 20,000 cryptocurrencies.

But with 2022 proving to be more of a crypto-nightmare – including for the vaunted “stablecoins” that held the most promise as...

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