A handshake agreement has kept DeFi from toppling, for now

DeFi • August 2, 2023, 3:30PM EDT
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Quick Take

  • Mika Honkasalo examines the potential link between the $BALD memecoin saga and Alameda Research, and how a crucial handshake deal averted a major crisis in the DeFi lending sector.

Episode 72 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Access Protocol creator Mika Honkasalo.

Listen below, and subscribe to The Scoop on Youtube, Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Please send feedback and revision requests to [email protected].

Mika Honkasalo is a DeFi researcher and the creator of Access Protocol.

In this episode, Honkasalo provides analysis on whether or not the $BALD memecoin saga could have ties to Alameda Research, and how a handshake deal prevented a near on-chain catastrophe in the DeFi lending market. 

Outline:
01:16 - $BALD debacle on Base
04:51 - $BALD deployer's ties to Alameda
08:14 - What's next for Coinbase's Base
09:16 - Crypto rugpulls
10:39 - Leetswap exploit
11:37 - Curve DeFi leverage
14:38 - Viper exploit
15:44 - OTC Curve buyers
17:37 - What's next for Curve?
19:06 - What's next for DeFi?
21:35 - Closing thoughts


© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

AUTHOR

Davis Quinton profile picture Davis Quinton

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.

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AUTHOR

Frank Chaparro profile picture Frank Chaparro

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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Editor

To contact the editor of this story: Nathan Crooks at [email protected]

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