DeFi Revives the ‘Mullet’ to Save Itself: Bloomberg Crypto

On this version of the Bloomberg Crypto publication, Muyao Shensurveys DeFi’s efforts to revive itself by dabbling in — of all issues — TradFi.

Should you can’t beat them, be part of them

Only a 12 months or so in the past, the decentralized-finance nook of crypto was providing an (at the least on the face of it) extraordinarily compelling proposition: Yields as excessive as 20%, vastly greater than what most of conventional finance may muster — to not point out your common zero-interest checking account.

That hole has all however vanished, and with it, a lot of DeFi’s raison d’etre. So maybe not surprisingly, the trade is …