DeFi***, ***is short for decentralized finance. It’s an umbrella term for the part of the crypto universe that is focused on building a new, internet-native financial system. With DeFi, you can do most of the things banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it’s faster and doesn’t require paperwork or a third party. As with crypto generally, DeFi is global and peer-to-peer, directly between two people, not routed through centra...

DeFi***, ***is short for decentralized finance. It’s an umbrella term for the part of the crypto universe that is focused on building a new, internet-native financial system. With DeFi, you can do most of the things banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it’s faster and doesn’t require paperwork or a third party. As with crypto generally, DeFi is global and peer-to-peer, directly between two people, not routed through centra...