Decentralized finance is having a moment, with trade volume and number of users up big since FTX’s collapse. But the purists in the crypto industry might want to wait before they bring out the champagne. As with billion-dollar blow ups earlier this year, FTX’s swift demise was a reminder: not your keys, not your crypto.
It’s the insider-y phrase that basically means, don’t let anyone hold your crypto for you. Not FTX, not Coinbase, not Binance.