Welcome to the 65th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 17th and October 24th, 2021.
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🔥 The DeFi Bulletin
Polygon dodged an $850M hack recently, while also paying a record $2M bounty to a white hat hacker who discovered the security vulnerability.
$16M was recently pilfered in an exploit of Indexed Finance, and the alleged attacker is refusing to return the funds.
- The Yearn developer, Matt West, is to run for Congress on a pro-crypto platform as a Democrat.
- FATF, a global anti-money-laundering watchdog, recently finalized its plans on crypto guidance but does not have plans to publish them until next week.
- A Goldman Sachs report on Friday recently said that DeFi can offer certain advantages compared to traditional finance.
Facebook’s Novi wallet is to launch soon, but it will launch with Paxos’ stablecoin ($USDP) instead of Diem.
Hindenburg Research, a financial research firm, recently announced a $1M bounty for details on Tether’s backing.
- Parallel, a sci-fi card game based on the Ethereum blockchain, has reportedly raised $50M from the VC firm Paradigm, while they are also valued at $500M.
- Proximity Labs, an a16z backed blockchain, recently announced the creation of a $350M grants vehicle to build dApps.
Multicoin Capital is to soon raise $250M for its third crypto fund, less than six months after it raised $100M for its second crypto fund.
Variant has also announced its second fund, with a $110M valuation, aimed at funding platforms, infrastructure, and generally DeFi.
Element Finance has recently raised $32M in Series A funding, with the lead investors being Polychain Capital and a16z.
- Obol Technologies, founded by a former executive of ConsenSys, has recently raised $6.15M to build their crypto staking protocol.
The Lending platform Sublime also recently raised $2.5M. Their main goal is to help borrowers access loans depending on their digital identity, and their on-chain history.
- Polynomial was recently funded by Acrylic, Genblock Capital, and Caballeros Capital with $1.1M.
💱 DEX Report
💎 NFT News
Thanks for reading, and be sure to catch the 66th issue of The Defiprime Post out this time next week! 👋♦️👋