Crypto Long & Short: Where DeFi yield really comes from (and why it broke this spring)

August 19, 2026

In this week's Crypto Long & Short, Solstice Finance's David Plisek argues that most of the money lost in DeFi this spring wasn't taken by hackers but by yield strategies that quietly stopped working. Looking at April's $13 billion drawdown, he shows that a headline yield number…