preloader icon

Recent blog


DeFi TVL Updates

State Of The Inflation

The overall prognosis for the global economy during the first half of 2023 appears to be one of continued decline. The United States is currently experiencing an economic downturn with a strong possibility of a recession within the year. Nevertheless, the markets are beginning to feel hopeful with the Federal Reserve's gradually easing policy, as inflationary pressures are starting to abate. This has led to a decrease in the value of the US dollar following its huge surge throughout the year.

Regulations and Institutional UpdateVisa is exploring crypto auto-payments on Ethereum using Layer 2 system StarkNet

Visa, a payments processing company, has suggested using smart contracts to create a system called "account abstraction" for automated, programmable payments on Ethereum. The system would be deployed on the Ethereum layer 2 network called StarkNet, and self-custodial wallets could utilize the "account abstraction" method to establish automatic recurring payments on StarkNet.

Mango exploiter Einsberg imprisoned in Puerto Rico - waiting for the trial 

December saw the arrest of Avraham Eisenberg, a crypto-investor in Puerto Rico, according to court documents. Eisenberg had allegedly employed a "highly profitable trading strategy" that resulted in the depletion of $110 million worth of cryptocurrency from DeFi trading platform Mango Markets. Eisenberg manipulated the price of perpetuals contracts (a type of futures contract popular in crypto markets) for Mango Markets’ native token MNGO. He sold massive amounts of MNGO perpetuals contracts to himself, thus pumping the price of those contracts 1,300% in less than an hour. Source

Noteworthy VC money Raised
  • Fleek a developer platform to simplify spinning up Web3 protocol closes a $25 Million Series A round led by Polychain Capital.
  • Perennial, a derivatives trading protocol closes a $12 Million Seed Round led by Polychain Capital and Variant Fund. 
  • Embattled crypto lender Amber Group raises $300 million in a Series C round
  • Bitcoin Group agrees to buy centuries-old German bank Bankhaus von der Heydt for more than $14 million
  • Privacy-focused Web3 firm Aztec Network raises $100 million in Series B funding led by a16z
  • Non-blockchain decentralization platform Nillion raises $20 million
  • Web3 infrastructure firm Blocknative raises $15 million for Ethereum block building market
  • Crypto insurance firm Evertas raises $14 million in a Series A round led by Polychain
  • DeFi Infrastructure provider raises $4.5 million in Series A+ founding round
  • On-chain AR digital assets creator Anima raises an additional $3 million from Polygon Studios and others

All comments

Comment not found