In this episode of the Divine Podcast, we sit down with Michael Bentley, co-founder and CEO of Euler Labs, to explore one of the most remarkable comeback stories in DeFi history. From a devastating $200M exploit in 2023 to surpassing $1B in outstanding loans, Euler Labs has redefined resilience and innovation in the crypto space.
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Episode Description
In this episode of the Defiant Podcast, we sit down with Michael Bentley, co-founder and CEO of Euler Labs, to explore one of the most remarkable comeback stories in DeFi history. From a devastating $200M exploit in 2023 to surpassing $1B in outstanding loans, Euler Labs has redefined resilience and innovation in the crypto space.
Michael shares the emotional and technical challenges of navigating the exploit, the process of recovering funds, and the lessons learned along the way. We also dive into the evolution of Euler Labs, the launch of V2, and their groundbreaking innovations in DeFi lending, borrowing, and stablecoins.
Whether you’re a crypto enthusiast, a DeFi builder, or just love a good comeback story, this episode is packed with insights, inspiration, and a behind-the-scenes look at the future of decentralized finance.
Chapters:
00:00 – Introduction
01:27 – Meet Michael Bentley: CEO of Euler Labs
02:03 – The Early Days: From PhD to Crypto
04:02 – Founding Euler Labs: Hackathon Beginnings
08:10 – Innovations in DeFi Lending
13:00 – The 2023 Exploit: What Happened?
20:33 – Recovering $200M: Negotiating with the Hacker
33:04 – Picking Up the Pieces: Team Resilience
36:41 – Launching V2: A New Chapter
42:29 – Differentiating Euler Labs in DeFi
45:24 – The Future of DeFi: Institutional Adoption
50:43 – Lessons for Founders: Resilience and Security
52:24 – Closing Thoughts: The Hard Things Are Worth It
