
Two months after a sudden change in the terms of the USD0++ buyout, Usual is facing a loss of confidence and a fall in its TVL. Can it bounce back and restore its credibility in the DeFi ecosystem?
The research your peers are already leveraging

Florent Vallon is an Analyst at The Big Whale, a Paris-based crypto and web3 media founded in 2022, where he has held the role since February 2025. His published work at The Big Whale covers DeFi protocols and on-chain finance, including analyses of Uniswap v4, Aave, Lido, EtherFi, restaking, DEX vaults, real-world assets, and tokenised indices. He also covers broader crypto market topics such as Solana, memecoins, Cardano, and decentralised AI platforms.
Alongside his role at The Big Whale, Vallon is a partner at White Loop Capital, a Paris-based private investment firm specialised in crypto-assets, a position he has held since October 2021. He is also co-founder of SCALIVM, a business consulting firm he launched in January 2020. Prior to these roles, he spent nearly a decade in commercial and entrepreneurial functions across e-commerce, crypto, and SaaS. He is based in the Greater Paris region, holds a degree from Boston University, and a Binance certification.

Grégory Raymond is Head of Research and co-founder of The Big Whale. A specialist at the intersection of traditional finance and digital assets, he has been covering the regulatory, institutional and technological developments of the sector since 2017 for an audience of decision-makers: ,banks, asset managers and fintechs. He is also the author of Bitcoin & Cryptos: L'enjeu du siècle (Talent Éditions, 2025), a book built around interviews with key figures from the ecosystem.














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