Cryptoverse: Crypto lenders face a DeFi drubbing

Crypto lenders have boomed over the past two years, attracting tens of billions of dollars in bitcoin, ether and other coins. But as crypto markets tumble, DeFi activity is being hit particularly hard, robbing lenders of their most lucrative returns. Total value locked (TVL) on ethereum, a metric that attempts to track the value of tokens deposited in a variety of DeFi protocols, has declined by $124 billion or 60% over the last six weeks. The crash has occurred in two large crypto slices, $94 billion lost during the collapse of the LUNA project - involving failed stablecoin TerraUSD - and another $30 billion in mid-June, data provider Glassnode says. Some market players say crypto lenders should make clients aware of the risks of projects their money is pumped into Source