This was an attack by some very large players against a decentralized project. Just happens that they destroyed a stable coin and coincidentally Janet Yellin asking for Stable coin regs. They were mad at the apr% you got when loaning the coin. It was around 18%. Who wants govt bonds at 1% when you can get 4-18% on crypto.
This is why yesterday happened
This was an attack by some very large players against a decentralized project. Just happens that they destroyed a stable coin and coincidentally Janet Yellin asking for Stable coin regs. They were mad at the apr% you got when loaning the coin. It was around 18%. Who wants govt bonds at 1% when you can get 4-18% on crypto. This is why yesterday happened