🤦‍♂️ "Big blow" for Fantom as activity drops off a cliff following the Multichain debacle. Its total value locked (TVL) plunged from $364M in May to $70M:

- Multichain announced shutdown due to CEO arrest

- Smart contract platform exploited, $125M+ stolen

- Geist Finance shuts down, $29M crypto assets lost

- Circle, Tether freeze $65M in tied assets

Fantom's cofounder, Cronje, admits learning a key lesson: "Don’t trust, verify." Adapting to this new reality, Fantom's now engaging with Circle & Tether and exploring options for asset recovery. Keep calm and verify on! 😅💪