The DeFi lending protocol had paused withdrawals for three stablecoin markets after risk manager Gauntlet flagged a liquidity squeeze in Elixir’s deUSD token.

The year is 2023. Blockchain technology has reached unprecedented heights. DeFi is mainstream. Gas fees are negligible now. Your memecoins alone are worth millions of dollars. You’ve reinvested half of your net worth in NBA Top Shots, and you’re confident that this is the best financial decision you’ve ever made. And then the US government…