According to Benzinga, Cathie Wood, founder of Ark Invest, described the rise of decentralized finance (DeFi) as a 'financial services revolution.' This statement followed an analysis by Lorenzo Valiente, Director of Research at Ark Invest, who noted significant growth in DeFi's market share. Since Q4 2022, DeFi's share in futures trading increased from 1.6% to 7%, spot trading from 7% to 20%, and lending from 15% to over 60%. Wood's comments come amid DeFi's expanding role in the financial sector, with decentralized exchanges like Uniswap and Raydium driving a 25% dominance over centralized exchanges. DeFi's peer-to-peer blockchain technology contrasts with traditional centralized finance, which relies on banks and governments. Ark Invest continues to invest in major cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Cathie Wood Praises DeFi's Growth as 'Financial Services Revolution'
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