DeFi is not really decentralized, it is unavoidably centralized

Decentralized Finance, commonly referred to as DeFi, is often portrayed as a revolutionary approach to financial systems that aims to eliminate intermediaries and empower individuals through blockchain technology. However, upon closer examination, it becomes evident that DeFi is not genuinely decentralized; rather, it is unavoidably centralized in various aspects. This centralization manifests in the form of dominant protocols and platforms that hold significant market power, the influence of large stakeholders and liquidity providers, and the reliance on centralized infrastructure for critical operations. As a result, while DeFi may strive for a decentralized ethos, it operates within a framework that inherently concentrates power and control, ultimately undermining its foundational principles. source: https://www.coindesk.com/business/2026/02/11/defi-is-not-really-decentralized-it-is-unavoidably-centralized