Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.
The DeFi space was full of fundraising this week. Read on to discover where the venture capital firm led by Reddit’s co-founder is making notable investments.
What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe to our newsletter below.
Near Protocol offers $800M fund to advance ecosystem
Smart contracts platform Near Protocol has announced the allocation of an $800-million global funding initiative aimed at fostering the development of its DeFi ecosystem, as well as incentivizing the network’s developers in product creation.
In addition to the $350-million grants program announced by Proximity Labs on Oct. 21, $250 million will go to existing developers, $100 million was awarded to a collection of 20 startup projects, and the remaining $100 million was allocated toward regional funds across Asia, Europe and the United States.
According to the project’s press release, Near has already distributed $45 million of protocol infrastructure grants to more than 120 projects, including Textile, Liquality and CronCat, among others. These projects and others have contributed to the platform’s rising total value locked figure, which currently stands at $150 million.
FATF update guidance on DeFi and NFTs for first time in two years
Intergovernmental group the Financial Action Task Force (FATF) has this week released an updated guidance paper on virtual asset service providers, with an inherent focus on the DeFi and nonfungible token sectors.
Launched in 1989 in the wake of a G7 summit, the FATF was formed with the ambition to introduce policies and procedures around illicit money laundering activities. The group comprises 37 countries, including the United States, China and the Russian Federation, as well as two regional organizations, the European Commission and the Gulf…
Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.
The DeFi space was full of fundraising this week. Read on to discover where the venture capital firm led by Reddit’s co-founder is making notable investments.
What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe to our newsletter below.
Near Protocol offers $800M fund to advance ecosystem
Smart contracts platform Near Protocol has announced the allocation of an $800-million global funding initiative aimed at fostering the development of its DeFi ecosystem, as well as incentivizing the network’s developers in product creation.
In addition to the $350-million grants program announced by Proximity Labs on Oct. 21, $250 million will go to existing developers, $100 million was awarded to a collection of 20 startup projects, and the remaining $100 million was allocated toward regional funds across Asia, Europe and the United States.
According to the project’s press release, Near has already distributed $45 million of protocol infrastructure grants to more than 120 projects, including Textile, Liquality and CronCat, among others. These projects and others have contributed to the platform’s rising total value locked figure, which currently stands at $150 million.
FATF update guidance on DeFi and NFTs for first time in two years
Intergovernmental group the Financial Action Task Force (FATF) has this week released an updated guidance paper on virtual asset service providers, with an inherent focus on the DeFi and nonfungible token sectors.
Launched in 1989 in the wake of a G7 summit, the FATF was formed with the ambition to introduce policies and procedures around illicit money laundering activities. The group comprises 37 countries, including the United States, China and the Russian Federation, as well as two regional organizations, the European Commission and the Gulf…
