DeFi's 48-Hour Reckoning: How the Market Repriced Risk
Until April 17, the annual percentage yield for lending stablecoins on Aave, a benchmark for DeFi, was 2.32%, surprisingly lower than the Federal Reserve's overnight rate of 3.64%. This discrepancy implied that the market viewed unregulated, open-source smart contracts as less risky than US Treasury bonds. However, this mispricing was abruptly corrected within 48 hours. The catalyst was an exploi…
April 23, 2026, 4:30 p.m.