Andre Cronje argues decentralized finance has evolved into onchain finance, citing centralization concerns and regulatory scrutiny.
Andre Cronje, a prominent DeFi founder, stated that decentralized finance no longer exists in its original form, rebranding it as “onchain finance.” He argued that intermediaries now resemble traditional banking structures, including risk committees and decision-makers.
The European Central Bank previously questioned DAO decentralization, finding that the top 100 governance token holders controlled over 80% of supply in protocols like Aave and Uniswap. The ECB suggested this could bring DAOs under the EU’s MiCA regulation.
Cronje acknowledged true DeFi innovation still exists but emphasized the shift toward centralized governance models. His comments reflect broader industry debates over regulatory compliance and decentralization.