- Crypto Brew
- Posts
- ☕️FBI warns of NOTORIOUS hackers..🚨
GM Brew Crew, the markets might have been experiencing a minor breeze, but this morning's brew is anything but chilly. Let’s Dive In Eh? ⬇️
On the menu today:
📉 DEFI IS TAKING A HIT
🤔 IS BINANCE IN TROUBLE?
🕵️♂️ FBI ALERT: N. KOREAN HACKERS LIKELY TO SELL STOLEN BTC
Today’s Charts:
📉 DEFI IS TAKING A HIT
The Decentralized Finance (DeFi) ecosystem is experiencing a setback, with the total value locked (TVL) in DeFi protocols hitting its lowest point since February 2021, now at $37.5 billion.DeFi reached its peak TVL of $177 billion in late 2021 but suffered a significant crash due to crypto price declines and scandals.
What gives for the decline?
In short: fear.
In 2021: DeFi had strong supporters, but market setbacks and regulatory worries have made people nervous about the security of their money in DeFi.
Some argue that the higher U.S. Treasury yields, with lower risk, make them a more appealing choice compared to riskier DeFi options with lower returns.
DeFi's TVL is $37.5 billion today.
This is the lowest since early 2021 - it didn't even get this low after FTX's collapse.
— Edgy - The DeFi Edge 🗡️ (@thedefiedge)
1:47 PM • Aug 23, 2023
