DeFi Shrinks to Multiyear Low as the Crypto-Fueled Future of Finance Falters

The supposed future of finance is going backward. The amount of money stashed in decentralized finance, or DeFi, protocols has dwindled to the lowest level since February 2021, according to data compiled by DefiLlama. Specifically, total value locked, or TVL, has slumped to $37.5 billion, slipping below the previous post–bull market nadir of $38 billion […]

Balancer Depositors Pull Nearly $100M in Crypto After Vulnerability Warning

One of Ethereum’s top decentralized crypto trading projects, Balancer, is urging some of its customers to withdraw their tokens after the discovery of a critical vulnerability that could place tens of millions of dollars in crypto at risk. They’re listening in a big way: “People are withdrawing fast,” said Xeonus, a pseudonymous contributor. The protocol’s […]

Single Trader Lost $55M on Ether Long Yesterday

An unknown single trader, or a trading entity, lost $55 million on an ether trade against binance usd (BUSD) on crypto exchange Binance as crypto markets plunged suddenly late on Thursday, data shows. The position was made up of 38,986.528 ether (ETH) and liquidated at the $1,434 price level. That was nearly 30% of all […]