MEV Capital Dissolves After $4B DeFi Daisy Chain Implosion, Assets Plummet 80%

Almost four months after a DeFi daisy chain implosion wiped over $4 billion from the 'yield vault' sector, one of the key 'risk curators' has collapsed. MEV Capital is being taken over by partner Belem Capital following an 80% drop in its assets under management, from $1.5 billion to $300 million. The firm's downfall was triggered by its exposure to looped-leverage yield strategies involving the deUSD stablecoin, which depegged in early November following the collapse of Stream Finance. MEV Capital's CEO, Laurent Bourquin, has reportedly 'abruptly stepped back.' Concurrently, asset tokenization platform Midas Capital has severed all business ties with MEV Capital, transferring management of its mMEV and mevBTC products to RockawayX. This event marks a significant failure in the post-collapse landscape, raising questions about risk management and the sustainability of high-yield strategies within DeFi.