DeFi proponents criticize Sam Bankman-Fried for a regulatory proposal suggesting websites facilitating trading on decentralized exchanges should be regulated (Adam James/The Block)

Xinyi Luo / CoinDesk:
Alameda-backed DeFi projects Maps.me, a maps app for travelers, and “DeFi Prime Brokerage protocol” Oxygen say 95%+ of their native tokens are locked up at FTX  —  Alameda Research led funding rounds into both companies in 2021.  —  Maps.me and Oxygen, two decentralized finance …

Muyao Shen / Bloomberg:
DeFi Llama: the total value locked in DeFi has dropped by 12%+ in the past day, after hovering around $50B to $60B since June 2022 and $180B+ in December 2021  —  Decentralized finance is feeling the pain of Binance’s proposed takeover of FTX.com, with investors yanking cash from projects …

CNBC:
FTX files for Chapter 11 bankruptcy in the US; Sam Bankman-Fried resigns as CEO  —  Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for bankruptcy.

Brandy Betz / CoinDesk:
Exponential, a DeFi investment discovery and risk assessment service, raised a $14M seed led by Paradigm, with Haun Ventures, FTX’s VC arm, others participating  —  The tool helps users assess risks in decentralized finance and compare investments.  —  Exponential, a decentralized-finance …

Wall Street Journal:
FTX’s collapse was exacerbated by centralization; FTX being a decentralized exchange, based on smart contracts, could have prevented SBF draining customer funds  —  Automated market makers can obviate the need to hold customer money and the opportunity for fraud.

Taylor Locke / Fortune:
Mango Markets, a Solana DeFi platform, says a hacker stole ~$100M by manipulating its coin’s price; the hacker then passed a malicious DAO governance proposal  —  Mango Markets, a decentralized trading platform on the Solana blockchain, looks to be the latest victim of a massive hack within the crypto realm.