Coinbase Prime, an institutional prime brokerage platform for crypto assets, announced on Oct. 24 that it has entered into a partnership with MakerDAO to become a custodian of $1.6 billion worth of the stablecoin USDC, of which MakerDAO is the largest single holder.
The MakerDAO community voted to approve the custodianship, which will allow its community to earn a 1.5% reward on its USDC while holding funds with a leading institutional custodian.Analytical data reveals that DeFi’s total value registered a surge toward the end of October, with the total value locked rising above $50 billion at the time of writing.
Theta Network was the biggest gainer over the past week, registering a weekly surge of 14.68%, followed by Avalance with a 12.85% surge on the 7-day chart. Many other DeFi tokens registered single-digit weekly gains, barring a few that traded in the red. Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education in this dynamically advancing space.
_prashantjha HEX.COM users unaffected
_prashantjha Ethereum is collapsing under it's own weight. This is why a slow and steady approach to security before scalability is the only way to build the financial future of tomorrow. Cardano
_prashantjha losslessdefi fixes this. These projects definitely have some sinister motives. Else, why is it so difficult to integrate a solution to their already existing problems? Is this how we expect crypto to gain mass adoption? By exploits and people losing their money? It's farcical.
_prashantjha 🤣
_prashantjha _c0nscienti0us_