CoinDesk reports that a DeFi platform discontinued its consumer app and shifted to operating as a backend service for major tech companies after experiencing a significant revenue decline during the bear market. The platform saw revenue drop from $80 million to $20 million, while its OTC lending business—which currently has $260 million outstanding—emerged as its fastest-growing segment with targets to reach $1 billion by year-end.
The pivot from consumer-facing app to infrastructure provider is a pattern worth noting: distribution and compliance overhead often make B2B rails more durable than a direct-to-user crypto app, especially through a downturn. If you're building consumer crypto, this is a reminder that the defensible layer may be plumbing others embed rather than your own front end. Worth checking whether their OTC lending growth reflects real institutional demand or just concentration risk in a few large counterparties.
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HTSApp