Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi

2022.06.18 01:00

Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi

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.

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Liquidity provider asks platforms to freeze 3AC funds to recover assets after litigation

Bitcoin and Lightning Network can save DeFi from adversity — MicroStrategy CEO

DeFi market overview

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