Is DeFi dead?

• With China effectively banning crypto.
• India planning a ban.
• Europe and US planning to force users into centralized exchanges through KYC.
• South Korea is already forcing KYC and banning certain altcoins.

This will encapsulate roughly 90% of the money in crypto.

Let's look at what DeFi is supposed to offer:

• Decentralized exchanges (DEXs) - Effectively banned.
• Stablecoins - to be replaced by CBDCs
• Lending platforms - Effectively banned or no different than banks.
• "Wrapped" bitcoins (WBTC) - still around, but limited utility.
• Prediction markets - are there any? Will likely be regulated as a security, in near future.

Is DeFi dead? What good is it anymore? What utility will altcoins like ADA even offer?

It certainly seems like it will be in the US and Europe if residents don't make their voices heard to stop imminent crypto legislation.