Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi
Cointelegraph
Published Jun 17, 2022 04:00PM ET
Updated Jun 18, 2022 06:00PM ET
This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH).
Trading firm 8 Blocks Capital called out to platforms holding funds owned by 3AC to freeze the assets as rumors of 3AC’s insolvency stay afloat. Micheal Saylor believes Bitcoin (BTC) and the Lightning Network can solve many of the DeFi ecosystem problems.
h3 Crypto crash wreaking havoc on DeFi protocols, CEXs/h3 h3 Su Zhu’s cryptic statement as rumors swirl of 3AC liquidations and insolvency/h3 h3 Maker cuts off Aave’s DAI supply as fallout from Celsius continues/h3 h3 Liquidity provider asks platforms to freeze 3AC funds to recover assets after litigation/h3 h3 Bitcoin and Lightning Network can save DeFi from adversity — MicroStrategy CEO/h3 h3 DeFi market overview/h3Continue Reading on Coin Telegraph
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Written By: Cointelegraph
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