Decentralized Finance

Researchers have linked Lazarus Group, a notorious North Korean state-backed hacking group, to the theft of $100 million in crypto assets from Harmony’s Horizon Bridge. Last week, U.S. crypto startup…

North Korean Lazarus hackers linked to $100M Harmony bridge theft

Singapore-based crypto exchange Bybit has joined a long list of companies that have laid off some of their employees. As the cryptocurrency market is facing tremulous times, firms are finding…

Bybit crypto exchange joins the the list of companies cutting staff

“The bill matters as it is a step in the right direction for legislation and definition of ‘crypto,’ what a ‘crypto asset’ is and what regulation will look like,” said…

Proposed bipartisan US crypto bill could be ‘sigh of relief’ for the industry

Cathay Innovation is hoping to secure the bag in a new investment partnership with a company that secures crypto assets. The $1.5 billion venture capital firm is entering the crypto…

Crypto startup Ledger teams up with Cathay Innovation to launch $110M sector fund

Seventy-three percent of “affluent” investors in Asia intend to hold some form of digital assets by the end of 2022, according to a new report from consulting firm Accenture. It’s…

Three-quarters of Asia’s wealthy investors will own digital assets by 2022

Engineers are the bedrock of any tech product, and blockchains are no exception. As the race between different chains heats up, communities of loyalists are duking it out to attract…

Developer infrastructure expert Anand Iyer goes solo with new $20M crypto fund

The year-over-year trend line for crypto funding remains “very positive.”

VC funding for crypto projects fell in May, but many investors remain bullish

Venture capital firms continue to deploy and raise capital for crypto markets despite volatility in recent weeks, with Binance Labs closing a $500 million investment fund to focus on web3…

Binance Labs closes $500M fund to focus on web3 and blockchain adoption

Are remittance payments really ripe for crypto disruption? And can DeFi help what a16z’s state of crypto report calls the “huge part of the world [ … ] underserved by…

For remittances, crypto is still a problem looking for a solution

As equities continue to trade down from recent peaks, investors are searching for higher returns. Some have turned to the crypto-based decentralized finance (DeFi) realm, where yields from lending and…

Y Combinator-backed fintech Pebble uses stablecoins to offer 5% yield on cash

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‘Move-to-earn’ Solana app StepN is latest crypto gaming craze

Since its launch in December, StepN, an app that lets users walk and run to earn tokens, has quickly become a household name in the play-to-earn blockchain gaming, or GameFi, world. Two to three million users worldwide are now active on the app every month, StepN’s co-founder Jerry Huang recently told TechCrunch. That number is…

5:42 pm PDT • May 22, 2022
‘Move-to-earn’ Solana app StepN is latest crypto gaming craze

At the Permissionless conference in West Palm Beach this week, conversations around crypto M&A were heating up as market players discussed this trend growing at the protocol level for DeFi.

M&A is coming for DeFi protocols as market conditions change

After a difficult first quarter, investing app Robinhood is doubling down on new product launches, particularly in its crypto unit, in hopes they will help buoy the business. CEO Vlad…

Robinhood lets users manage their own crypto wallets in push to spur trading

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Terra’s UST crash will make life harder for crypto as regulation looms

TerraUSD (UST) fell from grace after it depegged from its $1 value on Monday and since dropped as much as 70% to $0.2998, when it was never supposed to deviate from the dollar-equivalent value.

9:38 am PDT • May 11, 2022
Terra’s UST crash will make life harder for crypto as regulation looms

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Bitcoin’s bid to become the ‘one chain to rule them all’

The Bitcoin 2022 conference brought over 25,000 attendees to Miami last month to discuss the future of the world’s largest cryptocurrency. The event, which attendees have described as “extravagant” and compared to a bacchanal, featured a now-notorious keynote speech by Peter Thiel in which the venture capitalist rallied Bitcoin supporters against a list of people…

7:00 am PDT • May 10, 2022
Bitcoin’s bid to become the ‘one chain to rule them all’

Masa Finance, a hybrid credit protocol and decentralized credit bureau founded by Pngme CEO Brendan Playford in late 2020, has raised $3.5 million in pre-seed funding. According to a statement,…

Masa Finance gets $3.5M pre-seed to build its decentralized credit protocol

It was last year that we covered the $11.2 million fundraise for Sienna Network, the “privacy decentralized startup”. The network is built on the Secret Network, which allows asset holders…

More TradFi in DeFi as Sienna Network launches SiennaLend, a private crypto lending platform

The crypto-based decentralized finance ecosystem has, despite bouts of volatility, been ballooning in terms of assets since last year’s “DeFi summer.” DeFi is quickly maturing, which means startups are spinning…

Ondo’s decentralized investment bank matches crypto companies with capital providers

Digital banking startup Cogni is joining the ranks of companies hopping on the crypto bandwagon. The mobile-based platform, founded in 2018 out of Barclays’ accelerator program (which is operated by…

New bank, who dis? Lifestyle-focused neobank Cogni pivots to web3

Back in October 2021, Stripe announced that it would be re-entering the cryptocurrency market — ending a four-year hiatus with hype around crypto definitely not abating. Today, some six months…

Stripe launches crypto support in Connect, starting with payouts for creators on Twitter

Uniswap Labs, the company behind the popular decentralized finance (DeFi) protocol, has launched a venture capital arm to invest in web3 projects. Uniswap Labs Ventures, the new division, will invest…

DeFi giant Uniswap launches venture arm to invest in other crypto companies

Ethereum scaling solution Boba Networks shared Tuesday that it has raised $45 million from a bunch of investors including Crypto.com, Huobi and BitMart, among a couple dozen others. The Series…

Boba Networks raises at $1.5B valuation for its take on an ‘optimistic’ Ethereum scaling solution

Experts say that as more people and capital flood into crypto, there will subsequently be more losses.

Q1 crypto losses spike 695% on year following massive hacks

A lack of formal guidance from U.S. regulators requires taxpayers to interpret how existing laws intended to regulate traditional assets might apply to crypto.

5 crypto tax tools that could save your ass on Tax Day

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The 26 crypto startups that Y Combinator is backing in its W22 batch

Crypto was big at YC this batch. Y Combinator Demo Days returned yet again with another ballooning heap of startups. In the old days, a gaggle of TechCrunch reporters would go to the Demo Day in person, write up the presentations of each startup and hobnob with VCs during the breaks, but in a post-pandemic…

5:58 pm PDT • March 29, 2022
The 26 crypto startups that Y Combinator is backing in its W22 batch

Crypto gaming giant Axie Infinity, which raised last year at a $3 billion valuation from a16z, was already having a catastrophic week. It just didn’t know about it until this…

Axie Infinity’s Ronin network suffers ≈$625M exploit in largest DeFi hack to date

If investors don’t deliver on their promise to add value for investors, why are pro-rata clauses standard terms?

TechCrunch+ roundup: PLG handbook, hiring early-stage sales teams, abolishing pro-rata

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Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago

Total value locked across all decentralized finance (DeFi) chains is down from all time highs, but that hasn’t been true for most of the major protocols over the past week.

9:42 am PDT • March 23, 2022
Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago

Katie Haun, who co-led Andreessen Horowitz’s crypto arm before announcing her departure this past December, is ready to take the wraps off her new organization, which she’s calling Haun Ventures.…

Following a16z departure, Katie Haun debuts Haun Ventures with $1.5B in capital to back crypto startups

Crypto developer ConsenSys, which owns the popular Ethereum-based MetaMask wallet, announced a $450 million Series D round today that values the company at $7 billion, nearly double in worth since…

MetaMask parent company ConsenSys raises Series D at $7B valuation