Wall Street

Cryptoverse: Crypto lenders face a DeFi drubbing

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Reuters UK

By Lisa Pauline Mattackal and Medha Singh (Reuters) – Crypto lending may not be down and out, but it’s certainly on the ropes. Crypto lenders have boomed over the past two years, attracting tens of billions of dollars in bitcoin, ether and other coins which they in turn lent out or invested, often in decentralized finance (DeFi) projects with sky-high returns. But as crypto markets tumble, DeFi activity is being hit particularly hard, robbing lenders of their most lucrative returns and threatening to squeeze the whole sector – reaching far beyond Celsius Network, which grabbed the headlines la…

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