Flex Yang, the former CEO and founder of Babel Finance, is leading efforts to restructure the now embattled crypto asset unicorn while introducing a new decentralized project with hopes to avoid some of the flaws of his previous venture. In light of the downfall of centralized crypto services like FTX, Gemini and Babel itself, Yang is touting Hope, which blends centralized finance (CeFi), decentralized finance (DeFi) and traditional finance (TradFi), to deliver the kind of transparency and security that come with DeFi but provide the easy access offered by CeFi. One of Hope's protocols HopeConnect, for instance, is a DeFi settlement and clearance application that allows users to trade derivatives within major centralized exchanges (CEXs) without depositing assets on CeFi platforms.