Standard Chartered: Bitcoin Collapse Threatens Decentralized Finance’s Future

Standard Chartered has warned that a potential collapse of Bitcoin could jeopardize the development and success of decentralized finance (DeFi). The bank’s digital asset research head, Geoff Kendrick, highlights Bitcoin’s vital role as the foundation for DeFi and argues that its stability is key to achieving widespread adoption of decentralized financial systems. Kendrick believes that if Bitcoin experiences a major downturn, DeFi will struggle to compete with traditional financial institutions.