🦄 Recap: DeFi Week of May 17

Hello Defiers! Hope you’re having a great weekend and holding up amid the sell-off. Summing up: It's been a bad week for crypto — ETH is down moe than 40% in the past seven days and so are the top DeFi tokens, while BTC is down more than 20%. Analysts looking for explanations for the downturn point to China regulation concerns and Elon Musk turning on BTC. Most likely, crypto had simply gone up too far, too fast. An over-leveraged market led to cascading liquidations, worsening the fall. Our Defiant Weekly video goes into all the drivers of the fall. But if you want to keep things light, head over to our “Wait for It” video, a hilarious production created for CoinDesk’s Consensus, which pokes fun at high Ethereum gas prices and features a deep fake of Vitalik and Terry Crews .

Read →