MegaETH, the DeFi United Bailout, Meta’s USDC Push, and Blockworks Reaches $192M Valuation | The Breakdown

DeFi just raised $302 million to cover losses from the Kelp DAO hack. David calls it what it is: a bailout. David runs through four stories from the week — MegaETH, DeFi United, Meta’s stablecoin payouts, and the Blockworks rebrand. We unpack why MegaETH’s points campaign is the 2021 playbook in 2026, why stablecoin income doesn’t equal crypto adoption, and what happens when the house money runs out. Enjoy! TIMESTAMPS: (00:00) Introduction (01:14 MegaETH) (13:34 Nexo Ad) (14:11 DeFi United) (21:20 Nexo Ad) (22:12 Meta Stablecoins) (30:14 Blockworks Valuation) FOLLOW THE SHOW › David — https://x.com/dcanellis › The Breakdown — https://x.com/TheBreakdownBW SPONSORS › NEXO Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com/breakdown Get top market insights and the latest in crypto news. Subscribe to the Blockworks Daily Newsletter: https://blockworks.co/newsletter/ DISCLAIMER As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.