DeFi is not much more risky than traditional financial institutions. Just look at what happened in 2008.
One must beware of the potentials for rug pulls though. So you are smart to research before jumping in.
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Different kind of risk depending upon where you are.
There are safeguards in place, up to a certain limit, that does protect people in certain instances. For example, the money in banks up to a limit are covered by FDIC.
Of course, there was no protection against them taking the market and killing a lot of stock along the way.
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That is very true. Everything is a risk though. What happens if the FDIC goes bankrupt? Not probable, but it is possible.
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