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FTX’s Collapse Spurs $10 Billion Drop in Decentralized Finance

  • Solana, which is associated with FTX, saw biggest fall
  • Some investors, project founders are still optimistic
Bloomberg business news
FTX Demonstrates Need for More Oversight: CFTC's Johnson

Decentralized finance is feeling the pain of Binance’s proposed takeover of, with investors yanking cash from projects as uncertainty lingers about the future of one of the largest crypto exchanges.  

The total value of cash locked in DeFi dropped by more than 12% in the past day, after hovering around $50 billion to $60 billion since June, according to data tracker DeFi Llama. That number stood at more than $180 billion last December.