The current understanding in physics is that matter is not made from compressed spacetime. According to our current theories, matter is composed of elementary particles, such as quarks and electrons, which are the building blocks of atoms. These particles interact with each other through fundamental forces, such as gravity, electromagnetism, and the strong and weak nuclear forces.
On the other hand, spacetime is the four-dimensional framework in which matter and energy exist and interact. It is a fundamental concept in the theory of general relativity, where it is described as a dynamic entity that can be curved or distorted by the presence of mass and energy. In this theory, the curvature of spacetime is related to the distribution of matter and energy within it.
While there are attempts to unify the theory of general relativity with quantum mechanics to create a theory of quantum gravity, which would provide a more complete understanding of the fundamental nature of spacetime and matter, no conclusive evidence or widely accepted theory exists that suggests matter is directly made from compressed spacetime.
However, it's worth noting that our understanding of the universe is constantly evolving, and new theories and discoveries may emerge in the future that could challenge or expand upon our current knowledge.