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In Token Crash Postmortem, Iron Finance Says It Suffered Crypto’s ‘First Large-Scale Bank Run’


A near-total collapse in the price of a share token of a decentralized finance (DeFi) protocol was “the world’s first large-scale crypto bank run,” the people behind Iron Finance said in a blog post providing a postmortem. The run brought the worth of the protocol down from $2 billion to near zero on Wednesday.



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