Decentralized finance (DeFi) total value locked (TVL) held at $163 billion on April 15, 2025, with no growth reported, following Ethena Labs’ exit from Germany due to regulatory “deficiencies” in its USDe stablecoin, per Cointelegraph. The move has sparked concerns about DeFi stability in Europe, with social sentiment reflecting caution amid potential regulatory crackdowns, though some see it as a chance for other protocols to innovate.
