Jay Patel, the CEO of Lygos Finance, and Aydin Kilic, CEO of HIVE Digital, join us to respectively discuss risk in crypto credit markets and Hive’s latest $100M senior note. For news, we break down the $293 million Kelp DAO hack by the Lazarus Group and the $13 billion ripple effect this had on other DeFi platforms like Aave. Plus, we give a recap of one of the most salient talks at Blockspace’s OPNEXT conference and break down NYDIG’s incipient deal to purchase an aluminum smelting site from Alcoa that has been dormant since 2014.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

Notes:

• $13.8 billion unwound from DeFi in 48 hours.

• Kelp DAO exploit led to $293 million loss.

• Aave protocol facing $195 million in bad debt.

• Bitcoin rallied back above the $75,000 level.

• NYDIG eyes Alcoa smelting site for BTC mining

Timestamps

00:00 Start

03:26 DeFi is NOT ok

13:58 Jay Patel, Lygos Finance

34:31 Aydin Kilic, HIVE

58:46 OPNEXT recap

1:11:33 NYDIG to buy defunct aluminium smelter

1:14:09 Strategy buying more BTC

👉CleanSpark

CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

👉Luxor, Blockspace's preferred mining pool

Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining

Learn more about your ad choices. Visit megaphone.fm/adchoices

DeFi’s $13B Exodus, OPNEXT 2026 Recap, NYDIG Eyes Alcoa Plant for BTC Mining