DefiLlama’s founder expresses pressure to avoid reporting issues with Figure’s data and loan transactions

On September 13th, 0xngmi, the founder of DefiLlama, revealed on the X platform that Figure pressured him to refrain from proper scrutiny, resorting to both public and private defamation.

He emphasized the critical role of user trust in high-quality data, stating that DefiLlama’s data must meet user expectations to ensure informed decision-making.

Though Figure claims a $12 billion on-chain asset volume, investigations show only $5 million in BTC and $4 million in ETH despite reported low trading volumes and loan activities primarily in fiat without true on-chain transactions.