Solana's sol token rose by almost 40% to a record high on Tuesday, driven by an ongoing boom in demand for assets with DeFi capabilities.
Poly Network has taken the unusual step of embracing the apparent hacker, who stole $610 million in early August.
The rise of DeFi adoption was mainly driven by experienced cryptocurrency traders looking to diversify their portfolios, Chainalysis said.
At the current pace, total assets in DeFi will break $800 billion near the end of next year.
"We cordially invite Mr. White Hat to be the Chief Security Advisor of Poly Network," the company said.
High-profile investor Kevin O'Leary says one appeal of DeFi is that it could get rid of middlemen - who he says rip him off.
Poly Network's pleas for the money back appear to be working. The hackers said they stole "for fun :)"
The surge in interest in ether and the ethereum blockchain was clear to see in Coinbase's Q2 earnings.
Mike Novogratz said Elizabeth Warren "doesn't seem so progressive to me", after the senator called for tougher crypto rules.
Goldman Sachs is aiming to create an exchange-traded fund dedicated to decentralized finance and blockchain technology, a regulatory filing on Monday shows.
The cardano network has completed an upgrade that will allow it to incorporate more advanced smart contracts and decentralized finance applications.
Investors can earn returns far above those of traditional savings accounts by lending out crypto - in return for much higher risk.
Galaxy Digital CEO Mike Novogratz believes the cryptocurrency market needs strong, smart regulation and he will "educate DC" to help make that happen.
Mike Novogratz said his crypto contacts are telling him that regulators are increasingly focused on decentralized finance, or DeFi.
Coinbase cofounder Fred Ehrsam described decentralized finance as the "bleeding edge" of the blockchain world in an interview with Bloomberg TV.
Mark Cuban says he is seeing annualized returns of over 200% in some of his yield farming activities on DeFi exchanges.
The CFTC's Dan Berkovitz said he thinks much of decentralized finance, or DeFi, is a bad idea, in a speech citing Wikipedia and his Google searches.