Crypto investors now effectively lend $614 million to the U.S. government via tokenized Treasury products, according to rwa_xyz’s compilation, lured by the near-5% risk-free interest rate in traditional finance. sndr_krisztian reports
DeFi yields plummeted as demand for borrowing and leverage collapsed during the crypto market downturn.
Meanwhile, bond yields in traditional finance rose significantly as the Federal Reserve Bank jacked up interest rates to the highest level sinceThis year, a slew of new entrants such as OpenEden, Ondo Finance and Maple Finance released blockchain-based Treasury products targeting sophisticated investors, digital asset firms and decentralized autonomous organizations.
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