[Trump Crypto Advisor Warns DeFi Credit Crisis May Spread to CeFi] Trump cryptocurrency advisor David Bailey stated that the credit crisis in the decentralized finance (DeFi) lending sector is evolving into a cryptocurrency liquidity crisis. If the required collateral for margin calls cannot be provided or hedging operations fail, the risk of spreading from DeFi to centralized finance (CeFi) is very high. David Bailey urged caution, advised avoiding counterparty risk, and pointed out that a second wave of the crisis might occur on October 10.