S&P Makes History: DeFi Protocol ’Sky’ Snags First-Ever B- Credit Rating

Wall Street's gatekeepers finally crack open the door to DeFi—with a skeptical squint.

S&P Global Ratings just dropped a bombshell on traditional finance: its first-ever credit assessment of a decentralized protocol. The verdict? Sky gets a B-, putting it solidly in 'speculative' territory—right alongside corporate zombies and meme-stock darlings.

Why this matters: TradFi's stamp of approval could lure institutional capital... or expose DeFi's growing pains. Sky's rating hinges on 'smart contract risks' and 'volatile collateral'—basically S&P-speak for 'we don't entirely trust this robot money.'

The cynical take: After missing crypto's rise for a decade, rating agencies now scramble to stay relevant. That B- might look generous when the next stablecoin implodes.

One thing's clear: DeFi's gone from 'anarchist experiment' to 'regulated asset class' faster than a leveraged yield farmer gets liquidated.