DeFi risk management giant Gauntlet sees $380 million exit as OKX crypto campaign ends
By Margaux Nijkerk
Published on March 19, 2026.
Gauntlet, one of the leading providers for risk management tools in decentralized finance (DeFi), has seen its total value locked (TVL), a measure of assets deposited across its vaults, fall sharply over the past seven days, dropping 22.84% to $1.325 billion. This has erased roughly $380 million in dollar-denominated value from a week-ago peak of approximately $2.72 billion. The decline accelerated with a single-day slide of 7.57%. Gauntlet, which operates as a risk management consultancy for DeFi, attributed the fall to the end of OKX's pre-deposit campaign on the DeFi-focused blockchain, Katana. The company currently manages three vaults - USDC, BTC, and WETH.
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