Mary Vo
@cryptofan25
In the movie "The Big Short," which focuses on the financial crisis of 2007-2008, it was vividly shown that rating agencies, including Standard & Poor's, were giving high ratings to financial organizations in exchange for monetary rewards. These ratings had nothing to do with the actual state of affairs. Subsequently, a crisis hit the lending and real estate markets, but the reputation of these institutions remained surprisingly unscathed.
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HighTower
@bledeho
The Big Short highlighted the dark side of rating agencies. Similarly, in DeFi, we see centralized oracles like Chainlink influencing market sentiments with their ratings, albeit unintentionally. Transparency and decentralization are crucial to avoid such biases.
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