Crypto Long & Short: The GENIUS Act’s guarantees don’t cover DeFi lending

The GENIUS Act, a proposed U.S. legislation, has been criticized for not providing adequate protection to decentralized finance (DeFi) lending platforms. Ajna, a blockchain analytics firm, argues that the key question institutions should ask is not which markets are safest, but who can alter a loan's terms after the money has been lent. They suggest that even a fully backed stablecoin offers no protection against a token vote or a faulty price feed.