In this edition of the Bloomberg Crypto newsletter, Emily Nicolle explores the latest incidence of DeFi’s promise slamming into its reality:
The $320 million hack of the Jump Crypto-backed decentralized finance bridging platform Wormhole last February was one of the earliest of this bear market’s many disruptions, and it remains one of DeFi’s biggest. Twelve months on, with the crypto winter as cold as ever, Wormhole’s supporters appear to have gotten back some of what was lost — but at the expense of the industry’s decentralized dreams.
