‘DeFi is dead’: Maple Finance’s CEO says onchain markets will swallow Wall Street

The Maple Finance CEO says institutions will stop distinguishing between DeFi and TradFi as private credit moves onchain, and stablecoins process $50 trillion in payments. What to know : Maple Finance CEO Sid Powell argues “DeFi is dead” as a separate category, predicting all capital market activity will eventually settle on blockchains. Tokenized private credit, not tokenized treasuries, will be the main growth engine for onchain finance, with DeFi market cap on track to reach $1 trillion. Powell expects a high-profile onchain credit default and a surge in stablecoin payments to $50 trillion in 2026, driven by small businesses and neobanks seeking lower fees.