Carrot's total value locked has collapsed 93% in a month, from $28 million to $1.99 million, leaving the protocol financially unable to continue. Solana-based decentralized finance yield protocol Carrot said Thursday that it is shutting down permanently, becoming one of the first DeFi protocols to fall due to contagion from the Drift Protocol exploit in early April. In an X post on Thursday, Carrot said the Drift exploit was “catastrophic” for the protocol and had left it financially unable to continue operating. The platform set a May 14 deadline for users to withdraw remaining funds. It said it will continue to help recovery efforts related to Drift and distribute assets once they become available. “We are setting May 14th as the deadline to withdraw any remaining funds from Boost, Turbo, and CRT before we will then begin to deleverage the system. Your deposited funds are still yours, but all leverage will be reduced to zero, freeing up all liquidity for CRT redemption,” the protocol’s team said. Read more
Bitcoin bulls took another swing at the $77,000 resistance, but profit-taking and traders’ reluctance to increase margin and spot longs limit the strength of each breakout. Bitcoin (BTC) traders pushed the price to $77,400, but data suggests profit-taking may thwart the bull's goal of turning the $77,000 to $80,000 zone into support. Orderbook data from TRDR shows over $130 million in asks extending from $76,700 to $79,300. Read more
Tokenized US Treasurys were one of the biggest growth areas of the RWA market, rising from a market capitalization of $3.9 billion at the start of 2025 to more than $15 billion. The size of the tokenized real-world asset (RWA) market has increased by more than 420% since the start of 2025, as investors were treated to easier market access and regulatory clarity, according to analysts. The RWA market cap was about $5.8 billion on Jan. 1, 2025, but has since risen to more than $30.2 billion as of Wednesday, according to analytics platform RWA.xyz. Tokenized US Treasurys experienced the largest increase, from $3.9 billion at the start of 2025 to more than $15 billion, followed by commodities. Dominick John, an analyst at Zeus Research, told Cointelegraph the surge in the RWA sector was driven by tokenized Treasurys, which offer compliant onchain access to real-world yield and effectively turn blockchain rails into a distribution layer for institutional capital. Read more