Midas Investments, which invests in Decentralized Finance (DeFi), will cease operations due to a USD 63.3 million deficit in its DeFi portfolio. Iakov "Trevor" Levin, founder and CEO of Midas Investments, announced that they are making significant losses and will close the platform in 2022.
Stating that the Midas DeFi portfolio lost 50 million USD, Levin said, "This means that the company lost 20% of the 250 million dollars in assets under management." Levin also said that after the collapse of Terra, FTX and Celsius, users withdrew more than 60% of their assets under management.
