Finance Redefined: DeFi protocols lost $1.6B, EU to rethink DeFi approach, and more
The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county in the United States State of Virginia wants to put its pension fund in a DeFi yield.
DeFi exploits became the center of attention again as recent research shows that in the first two quarters of 2022, DeFi protocols have lost $1.6 billion to various exploits. Rari Fuze hacker, who got away with $80 million worth of funds, was offered a $10 million bounty.