Phase one of crypto neobanks included Outlet Finance, Donut, Linus and a few others. The yield came from a mix of defi lending, centralized crypto lenders, token incentives and subsidized protocols like Anchor on Terra. Terra did not directly power all of them, but its collapse exposed how fragil
@lmrankhan·Jul 13, 2026·2 sources·negative
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The collapse of Terra exposed the fragility of phase one crypto neobanks, leading to contagion that hit Celsius, Voyager, Blockfi, and Genesis.
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Phase one of crypto neobanks included Outlet Finance, Donut, Linus and a few others. The yield came from a mix of defi lending, centralized crypto lenders, token incentives and subsidized protocols like Anchor on Terra. Terra did not directly power all of them, but its collapse exposed how fragil
@lmrankhan
Jul 13, 2026
Phase one of crypto neobanks included Outlet Finance, Donut, Linus and a few others. The yield came from a mix of defi lending, centralized crypto lenders, token incentives and subsidized protocols like Anchor on Terra. Terra did not directly power all of them, but its collapse exposed how fragil
@blknoiz06
Jul 14, 2026