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“If I've deposited a bunch of collateral and borrowed, let's say I deposit $200 million worth of collateral and borrow $100 million, my net exposure for the protocol is $100 million. But if I put $200 million on and borrow $190, now my net exposure is only $10 million. So what a lot of people did was to risk mitigate, they go and borrow any asset they can.”

“Bitcoin thrives in chaos. If you take a look, it outperforms in almost every instance of global uncertainty. But at the moment, we also have a bit of a crisis in DeFi and on the crypto side, leading many to believe that maybe Bitcoin is just the safer option at the moment.”

“Kelp Dow is a is a staking protocol. So you put in ETH, it gets staked, you get an LST or a liquid staking token back that earns you yield. But what happened over the weekend was that Kelp Dow's bridge was compromised. So there was an exploit there that enabled the hacker to mint, call it roughly an extra 20 percent of RS ETH.”

“There's currently two proposals up. So one would be that there's a uniform haircut of RSI across all, effectively all instances of Aave. And this is something like 20% haircut on the asset, if you apply it evenly. And then the other one is that because the reasoning is that because the exploit was caused by a bridge, you would only haircut the L2.”

“It's almost a commercial that people that are ETF centric can somewhat point to and say, listen, you can play around with all this stuff, you know, or you can do this ETF and this ETF. You've got exposure, right, to the industry and to the asset class, but you don't have to worry about some strange hacking thing and going into pools, and then it's the meme and it's gone.”