ChainCatcher news, according to The Block, the DeFi project DeFi.app has completed a $2 million seed round financing, with a valuation of $100 million. This round of financing was led by Mechanism Capital, with participation from Selini Capital, North Rock Digital, and about 50 angel investors. The financing was completed through a Simple Agreement for Future Tokens (SAFT) structure, reflecting the fully diluted valuation of DeFi.app's yet-to-be-launched native token HOME.DeFi.app aims to be the Robinhood of the DeFi space, dedicated to simplifying decentralized financial transactions while maintaining self-custody of assets. Users can perform one-click cross-chain transactions, access decentralized derivatives markets and yield opportunities, and are exempt from Gas fees, without the need for bridging or KYC verification.Founder Greer revealed that the platform's public beta will launch this month, with the mainnet and HOME token expected to be released in the first half of next year. Additionally, DeFi.app plans to conduct a token airdrop and expand its team size.

ChainCatcher news, according to Cointelegraph, the U.S. House Financial Services Committee held a hearing yesterday titled "Decoding DeFi: Breaking Down the Future of Decentralized Finance," aimed at exploring emerging topics such as tokenization and how blockchain is used in the financial sector.Republican and Democratic lawmakers showed clear divisions on this issue. Republican subcommittee chair French Hill believes that decentralized finance can change the current structure and governance of financial markets and transactions. Democratic representative Brad Sherman and other cryptocurrency critics claim that DeFi is only used for crime, evading sanctions, and primarily for tax evasion.

ChainCatcher news, according to Decrypt, the insurance platform Athena Ins has launched decentralized insurance for DeFi risks. The platform allows individuals to subscribe to insurance, protecting their DeFi investments from various threats, including hacks, smart contract vulnerabilities, and stablecoin de-pegging.Unlike traditional insurance companies, Athena Ins operates through smart contracts, eliminating the need for centralized intermediaries, ensuring transparency and decentralization. Users can easily protect their deposits on DeFi protocols and receive compensation in the event of an insured incident.

ChainCatcher news, according to official sources, the stablecoin project defi.money has completed a strategic financing round, which was participated in by GBV Capital, LayerZero Labs, and a group of angel investors including Curve Finance founder Michael Egorov.It is reported that defi.money is an EVM-agnostic CDP protocol that combines Curve Finance's innovative liquidation mechanism LLAMMA, aiming to build a capital-efficient, scalable, and truly interoperable USD stablecoin for anyone, anywhere.

ChainCatcher news, 1inch announced that it has launched the 1inch Fusion API, allowing financial institutions' clients to access DeFi.It is reported that the Fusion mode supports token swaps on various DEXs without incurring any network fees and provides users with MEV protection. The Fusion API complies with applicable regulations, and both users and market makers undergo KYC, with all liquidity screened for AML, sanctions, and other criteria.

ChainCatcher news reports that, according to on-chain data from OKLink, a whale starting with 0x15 has staked 5,280 ETH through OKX Web3 DeFi on Lido, worth 13.4 million USD. This week, another whale also staked 3,153 ETH through OKX Web3 DeFi on Lido. The staking behavior of these whales may be related to the interest rate promotion launched by the DeFi sector of the OKX Web3 wallet. On November 22, 2023, the OKX Web3 wallet announced the extension of the interest rate promotion jointly launched with Lido until June 7, 2024. Users can stake ETH with one click through the DeFi section of the OKX Web3 wallet to receive Lido's original yield and an additional subsidy of up to 3% APR, with a total prize pool of 105 stETH.It is reported that OKX Web3 DeFi has recently partnered with leading industry protocols such as F(x), Scallop, Solana, and BENQI to jointly launch an interest rate season, allowing users to enjoy additional interest rate subsidies while benefiting from the basic APR, attracting significant attention and participation from large whales.

ChainCatcher news, Binance Labs stated in a review of the Web3 investment landscape in 2023 that since 2018, Binance Labs' portfolio has covered 250 projects across 25 countries, with an investment return of 14 times, and more than 50 portfolio companies are incubated projects of Binance Labs.It is reported that in 2023, Binance Labs made over 25 investments throughout the year, focusing on infrastructure and tools based on zero-knowledge proof technology, Web3 games, and DeFi.

ChainCatcher news, the International Organization of Securities Commissions (IOSCO) has released policy recommendations for DeFi to address issues of market integrity and investor protection in DeFi. Based on IOSCO's established securities regulatory approach, the policy recommendations for DeFi aim to support jurisdictions seeking to establish compliant markets in the most effective way. IOSCO also seeks to encourage consistency in the regulatory approach to crypto asset markets and securities markets across various IOSCO jurisdictions based on the principle of "same activities, same risks, same regulation/regulatory outcomes."These recommendations also cover the necessity for enhanced cooperation among regulators to coordinate and address cross-border challenges in enforcement and regulation, and to tackle the regulatory arbitrage issues arising from the cross-border nature of global crypto asset activities conducted by DeFi participants.

ChainCatcher news, Binance and the National Bank of Kazakhstan submitted a bilateral report today on the state of the Central Asian digital asset industry and DeFi, which was presented at the "Digital Almaty 2023" forum. This joint report analyzes the adoption of cryptocurrencies, general DeFi trends, and the local digital asset industry, as well as the regulatory environment in the CIS countries and key trends that require close monitoring.Key to this is the investment in skills and technology to understand the challenges/opportunities brought by DeFi, including the data sources used by oracles to support smart contracts and users' irrational behaviors. The joint report emphasizes the importance of financial and digital literacy in reducing risks, as well as the need to enhance the expertise of regulatory and enforcement agencies to establish relevant capabilities for regulatory design and further oversight. (Source link)