Crypto’s DeFi Experiment in Tatters as Algorithmic Stablecoins Slump – Bloomberg

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Crypto’s DeFi Experiment in Tatters as Algorithmic Stablecoins Slump – Bloomberg

Posted by admin | January 26, 2023 | DeFi
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Crypto’s audacious bet on the infallibility of algorithmic money is all but history.

Crypto’s audacious bet on the infallibility of algorithmic money is all but history.

Photographer: Shaiith/iStockphoto

From

Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. In today’s edition, Emily Nicolle surveys the damage in DeFi: 

The weeks of chaos in decentralized finance that followed the $60 billion collapse of Terra last spring soon turned into months of stagnation. Now, it seems like crypto’s outlandish bet on the infallibility of algorithmic money is all but history.

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