> He used the inflated futures holdings as collateral to borrow other cryptocurrencies on the platform, then quickly withdrew those assets and walked away from his collateral.
> Eisenberg never disputed the facts of the strategy but contended that what he did was legal and permitted by the DeFi protocol, a principle in the industry known as "code is law."
> Eisenberg never disputed the facts of the strategy but contended that what he did was legal and permitted by the DeFi protocol, a principle in the industry known as "code is law."
> The big picture: U.S. laws apply to DeFi.