Once-Buzzy DeFi Is Bested by Bonds
Hard currencies like the dollar and other traditional assets are taking the spotlight await from crypto.
Photographer: Chris Ratcliffe/Bloomberg
Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. In today’s edition, Emily Nicolle delves into DeFi’s decline:
Buzzy. Volatile. Meme-worthy. You’d be forgiven for thinking we’re talking about crypto, or its head-spinning subset, decentralized finance. But right now, those words are actually better suited to traditional markets — which could spell trouble for one of the world’s most hype-driven asset classes.