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But we saved everything 🙂.
Decentralized finance protocols have experienced losses of more than $600 million in recent weeks. Frank Chaparro shared this information as the Kelp DAO exploit helped drive total value locked (TVL) in DeFi to its lowest point in a year.
The extent of recent losses and the impact on TVL underscore heightened risk and volatility in DeFi platforms.
Chaparro previously reported Kalshi's $22 billion valuation as ICE invested $600 million in Polymarket, highlighting the role of prediction markets in financial technology developments. In a separate post, he observed Citigroup's search for a senior executive to lead new efforts in combining AI and tokenization within its wealth management division. Both developments show active institutional interest in innovative digital asset infrastructure, even as DeFi platforms face rising challenges.