Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, the contagion from the Kelp exploit could have been contained, but at the cost of capital efficiency, according to the founder of Curve Finance, RaveDAO denies involvement in RAVE token price surge and crash, and Elizabeth Warren accused SEC Chair Paul Atkins of possibly misleading Congress.
The exploit of the Kelp liquid restaking protocol shows how non-isolated lending and integrations in decentralized finance (DeFi) can cause broader ecosystem contagion, according to crypto industry executives and blockchain security firms.
Non-isolated lending on DeFi platforms, including earlier versions of the Aave lending protocol, exposes users to risks from all the various tokens used as collateral on the platforms, according to Michael Egorov, founder of the Curve Finance DeFi protocol.
