According to a blog post by CEO and founder Iakov “Trevor” Levin, Midas Investments, an investment firm focused on DeFi yields, is shutting down its platform following significant losses in 2022. Levin stated that the Midas DeFi portfolio lost $50 million, or 20% of its $250 million in assets under management (AUM), this past spring, and that after the collapse of Celsius and FTX, its platform saw over 60% of AUM withdrawn. “We have made the difficult decision to close the platform based on this situation and current CeFi market conditions,” Levin wrote.
