Wormhole almost killed Solana DeFi — now works with Blackrock, Hamilton Lane
Wormhole, the Solana-Ethereum bridge that was hacked for $300 million back in 2022, has ties to FTX, and almost caused catastrophic insolvencies across Solana’s DeFi ecosystem, has earned a partnership with a $956 billion asset manager. Backed and bailed out by Jump Crypto, Wormhole announced today that Hamilton Lane’s Senior Credit Opportunities Securitize Fund will use Wormhole interoperability for its Optimism and Ethereum tokens. Specifically, Hamilton Lane will now support native issuance of a securitized SCOPE token on both Ethereum and Optimism. Wormhole and Jump were at the center of a series of scandals in 2022 as crypto markets careened 65% from $2.4 trillion to less than $840 million. Solana (SOL) plummeted 93% from $55 billion to under $3.7 billion during those 12 months as it led the decline on the back of its affiliation with Sam Bankman-Fried and his bankrupt FTX exchange. Wormhole was Solana’s top bridge that year. Things got so bad that Jump h...