Thoughts on CPI and its DeFi implications

This latest CPI print certainly wasn't ideal for the 'transitory' camp, and the market reaction reflects that. Hard to see any significant pivot from the Fed anytime soon, which makes me think this higher-for-longer rate environment is just getting started. For DeFi, that continued drag on risk appetite probably means less speculative capital flowing into higher-beta plays, so I'm keeping my eyes on more established, battle-tested protocols with real-world revenue hooks rather than the newer, yield-farming Ponzi schemes.