Welcome to the 134th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between February 26th and March 5th, 2023.
🔥 The DeFi Bulletin
- MyAlgo, an Algorand wallet, was the subject of a $9.6M exploit.
- Robinhood recently received a subpoena request from the SEC and the California Attorney General’s office.
- Uniswap’s wallet is barred from releasing on Apple’s App Store.
- Multicoin Capital’s Hedge Fund reportedly lost 91.4% last year, according to an investor letter.
- Liquid staking has replaced lending as the second-largest crypto sector.
- Hashnote, an institutional startup, is the first to emerge from Cumberland Labs, a web3 incubator.
- The Lido community was participating in preliminary voting for a software snapshot planned to be the V2 upgrade of Lido.
- Iron Bank told Alpha Homora to take ownership of their $30M bad debt.
- The Blockchain Founders Fund has raised $75M in funding, hoping to encourage mass adoption of web3.
- The hosts of the Bankless Podcast have raised $35M for a venture fund.
- Mangrove has secured $7.4M in Series A funding, hoping to enable market makers to operate without locked capital.
- Ether.Fi, a non-custodial liquid staking platform, has closed a $5.3M funding round.
- Portal, an infrastructure startup, has raised $5.3M in funding.
- Term Labs announced their $2.5M seed funding round, with the round led by Electric Capital.
💵 State of the Stablecoins
- Coinbase is to halt trading of $BUSD due to not meeting their listing standards.
💎 NFT News
- Insrt, an NFT finance protocol, has secured $2.2M in a SAFT round.
Thanks for reading, and be sure to catch the 135th issue of The Defiprime Post out this time next week! 👋♦️👋