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DeFi Hacks Cast Doubt on Wall Street’s Crypto Ambitions

DeFi Hacks Cast Doubt on Wall Street’s Crypto Ambitions


DeFi Hacks Cast Doubt on Wall Street's Crypto Ambitions

DeFi hacks lead to $15B loss, raising concerns for Wall Street’s crypto plans.

Following recent attacks on the Drift and Kelp protocols, users have withdrawn over $15 billion from the DeFi sector. According to Andrew Moss of Jefferies, this may dampen Wall Street firms’ interest in blockchain technologies, reports Bloomberg

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TVL of the DeFi sector. Source: DefiLlama. 

Over the past year, firms like BlackRock, Franklin Templeton, and Apollo Global Management have developed products based on…

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