Seeing so many of my crypto friends “closing up shop” lately. Not gonna lie, after 10/10 and all the recent DeFi exploits, you can’t really blame them. It’s hard to justify a 3% yield when there’s a risk your entire portfolio could blow up. Total TVL in DeFi is down 10% since yesterday as people rush to withdraw from Aave, Morpho, Sky, Fluid, etc. You can supply USDC/USDT for 13% APY right now, but there’s a reason for that: people are exiting via stablecoins by borrowing, which is driving demand up. Anyway, a dark day for DeFi and crypto. Hoping the contagion effects won’t be too severe going forward.
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