Andre Cronje says DeFi is ‘no longer DeFi’ as builders debate circuit breakers
Andre Cronje argues modern DeFi protocols are no longer truly decentralized, functioning as teams running for-profit businesses with upgradeable contracts and admin controls. The Flying Tulip founder advocates circuit breakers for emergency response during abnormal withdrawals, while Curve's Michael Egorov warns such safeguards create new human vulnerabilities and centralization risks. Recent exploits like Drift Protocol and Kelp highlight operational risks beyond smart contract audits.
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DeFi shaken by $292 million hack, but showing resilience, Standard Chartered says
A $292 million KelpDAO exploit hit AAVE and sparked liquidity crunches across DeFi, causing deposit declines and loan contractions. Standard Chartered says the sector demonstrated resilience through a $300 million industry backstop, enabling rapid recovery. The bank maintains its $2 trillion tokenized RWA forecast by 2028, though security remains a critical constraint on institutional adoption.
Visa Adds Base, Polygon, Canton, Arc and Tempo to Stablecoin Settlement Program
Visa expanded its stablecoin settlement program to five new blockchains: Base, Polygon, Canton, Arc, and Tempo. This integration strengthens institutional adoption pathways for stablecoins, enabling faster and cheaper cross-border transactions. The move signals growing mainstream fintech confidence in blockchain infrastructure, benefiting USDC and other compliant stablecoins. For Indian investors, this enhances legitimacy of crypto settlement infrastructure globally.