JPMorgan says $20B KelpDAO hack loss and stagnant capital hurt DeFi's institutional appeal

JPMorgan said hacking and capital stagnation are weakening DeFi’s appeal for institutional investors, citing the $20 billion KelpDAO hack loss. The bank said investors moved capital from DeFi lending into Tether’s USDT after the hack because USDT offers high liquidity and fast withdrawals.

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