Did DeFi Just Run Its First $300M Bailout? - DITC

Description

After April's record $600M hack month, Aave led a $300M relief coalition to restore Kelp DAO's wrapped ETH backing. Avalanche, Consensys, Etherfi, Tron, Lido, Solana Foundation, and others all contributed. Katherine Kirkpatrick Bos, Vy Le, and Jessi Brooks debate whether this is a beautiful moment of solidarity or a troubling precedent: DeFi organizing to decide which hacks are worth compensating, and which protocols survive. This clip is from a longer conversation on DeFi's liability exposure, April's hack crisis, and the Clarity Act. Full episode here: https://youtube.com/live/UVXNUpuoQOA We go live every Tuesday at 12:00 PM ET — subscribe to catch it live. Coinbase One Get 20% off the first year of your Coinbase One annual plan coinbase.com/unchained Chapters: 💸 0:00 What is DeFi United and why did it form after Kelp DAO? 🏛️ 2:04 Why it resemblesthe Panic of 1907, when JP Morgan locked bankers in a room ⚖️ 3:09 Jessi: Who decides which hack gets compensated? That's a cartel. 🤝 5:54 TuongVy: This happened because it was Aave. Would it happen for anyone else? ❓ 7:31 KK on a fintech person pointing out that this doesn’t seem like “Code is law.” _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!