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 … Read more