Welcome to the 48th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between June 20th and June 27th, 2021.
Want more in-depth knowledge? We have communications over at our Telegram channel @defiprime. Check out defiprime’s latest news, interviews, guides and more with daily updates.
🔥 The DeFi Bulletin
- Eleven.finance, a yield aggregator on BSC and Polygon, was recently exploited for more than $4.5M.
- Impossible Finance recently got exploited for more than $500K, but managed to get funds back from hackers.
- SEC commissioner Hester Peirce has argued in favor of DeFi’s promise of disintermediation, speaking glowingly of DeFi’s ability to free users from huge counterparties in finance and big tech.
- Andreessen Horowitz have launched the biggest-ever crypto venture fund, at more than $2.2B in value.
- Visa and PayPal have joined the Crypto VC Blockchain Capital’s new $300M fund, with Blockchain Capital itself currently having more than $1.5B under management.
- The Bank of Israel is reportedly testing out Ethereum technology in its digital Shekel trial.
- The Polywhale Team has abandoned its more than $100M project amid scam allegations against them.
- Digital asset custody company, Fireblocks, recently got sued for losing $75M worth of ETH, with StakeHound claiming Fireblocks was negligent and failed to backup its wallet keys by proper standards.
- The Yield Protocol recently closed a $10M Series A funding round, led by the investor Paradigm.
- RabbitHole has raised $3.6M so they could build an on-chain resume for the future and beyond.
- The DeFi insurance Upstart, Risk Harbor, has gone live with $3.25M in seed funding.
- Amun has entered DeFi, offering $100K in rewards with their first DeFi indexes arriving.
💱 DEX Report
- Curve Finance, a DEX for stablecoin trading, is preparing to face off against Saddle Finance, for Curve has said it is ‘99% sure’ that they have violated their license on contracts between each other.
💵 State of the Stablecoins
- A US Fed official is calling Tether a ‘challenge’ to financial stability, in what he termed new disruptors to short-term credit markets.
💎 NFT News
- Looking for NFT marketplace platforms? Bruno Marshall of daVinci explained his novel NFT marketplace platform on Harmony, in which you can mint art and music NFTs, and the intersection of creators and the passion economy in DeFi solutions. Check it out here.
- The NFT site Rarible is to reportedly launch a marketplace on the Flow Blockchain, following a $14.2M funding round, so they could hire new team members and flesh out its platform more.
- CoinFund is to launch a brand new investment vehicle for NFTs, named Metaversal, which will serve as both a way for investors to bet on the market, and as a development studio for NFT creators.
Thanks for reading, and be sure to catch the 49th issue of The Defiprime Post out this time next week! 👋♦️👋