“Clearly, there are fears over a liquidation cascade happening within the Ethereum DeFi ecosystem, Richard Mico, the U.S. CEO of payment-and-compliance infrastructure provider BanxaI, wrote in an email to CoinDesk. “I don’t know how likely such a cascade is, but the market seems jittery as a result of these metastasizing issues. What’s ironic is that DeFi had held up so well during the blowups of 2022, and yet it’s an exploit more recently that might be the trigger for a DeFi blowup itself now.”

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Author: James Rubin

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