The original promise of Bitcoin centered on decentralizing financial power. In recent years, however, large parts of the crypto industry have moved in the opposite direction. Startups building products for broader audiences have reintroduced various vectors of centralization, leading to cases of insiders pumping and dumping memecoins, increased concentration around dollar-pegged stablecoins, and moves away from public crypto networks toward a revamped version of traditional finance. Situations like crypto infrastructure going down when Amazon Web Services is experiencing downtime and so-called decentralized finance (DeFi) protocols reverting to centralized solutions after they get hacked also indicate that much…