Americans Increasingly Turn to Crypto and DeFi Amid Declining Trust in Traditional Banks

Growing dissatisfaction with traditional banking systems is driving Americans toward decentralized finance (DeFi) and cryptocurrencies, according to a new study by the DeFi Education Fund and Ipsos. Nearly 18% of respondents have already engaged with crypto, while 22% express curiosity about blockchain-based alternatives. The interest spans demographics, signaling a broad shift in financial preferences.

DeFi's promise of lower fees, enhanced security, and direct peer-to-peer transactions resonates strongly. Approximately 42% of Americans WOULD adopt DeFi if regulatory barriers eased, with usage scenarios favoring online purchases (84%), bill payments (78%), and savings (77%). Yet adoption remains nascent—only 1% currently use these tools, highlighting a gap between interest and action.

The findings underscore a pivotal moment for financial infrastructure. As institutions grapple with trust deficits, crypto and DeFi emerge as viable contenders for rebuilding economic participation—provided accessibility improves.