JP Morgan Expresses Concerns Over Institutional Adoption of DeFi Following Kelp DAO Hack and Subsequent $15 Billion TVL Outflow

Concerns Voiced Over Institutional Adoption of DeFi

On the 23rd, a team of analysts led by JP Morgan's Managing Director, Nikolaos Panigirtzoglou, reported that the hacking of Kelp DAO led to the disappearance of approximately $22 billion (actual measurement of $15 billion) from the overall DeFi TVL (Total Value Locked) within a few days. The report pointed out the vulnerabilities in security and the stagnation in growth, which continue to limit the interest of institutional investors in DeFi...