From a teachers perspective, the past 12 hours were an excellent teaching moment for why crypto is special. And FWIW, my ultimate conclusion to my students was that everything worked as it was supposed to, and blockchain actually demonstrated why it is useful. The credibly neutral networks did nothing despite the scale of the theft and the bearer assets remain stolen. The parts of the ecosystem that are more centralized played their part and intervened. And of course, everything was shockingly transparent in real time. Having a hierarchy of neutrality and censorship-resistance, where base layers and assets are cypherpunk, but higher level networks and assets are not, is optimal. Those who seek maximum protection can have it, at the risk of nobody coming to their rescue when something goes wrong. Those who want greater safety and convenience can have it too, at the risk of being abused by those meant to protect them down the line. Importantly, individual choice and market forces decide which part of the hierarchy anyone lives on - not regulations or monopolists.