Xinyi Luo / CoinDesk:
Alameda-backed DeFi projects Maps.me, a maps app for travelers, and “DeFi Prime Brokerage protocol” Oxygen say 95%+ of their native tokens are locked up at FTX — Alameda Research led funding rounds into both companies in 2021. — Maps.me and Oxygen, two decentralized finance …
Muyao Shen / Bloomberg:
DeFi Llama: the total value locked in DeFi has dropped by 12%+ in the past day, after hovering around $50B to $60B since June 2022 and $180B+ in December 2021 — Decentralized finance is feeling the pain of Binance’s proposed takeover of FTX.com, with investors yanking cash from projects …
Brandy Betz / CoinDesk:
Exponential, a DeFi investment discovery and risk assessment service, raised a $14M seed led by Paradigm, with Haun Ventures, FTX’s VC arm, others participating — The tool helps users assess risks in decentralized finance and compare investments. — Exponential, a decentralized-finance …
Shaurya Malwa / CoinDesk:
Binance and Huobi block deposits of FTX’s native token, FTT, after 192M tokens worth ~$400M were released out of schedule and without warning — The tokens were illicitly released from FTT’s main deployer address. — Crypto exchanges Binance and Huobi blocked deposits of FTT …
Tim Copeland / The Block:
Orthogonal Trading defaults on eight loans to lending protocol Maple Finance totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure — – Orthogonal Trading has defaulted on eight loans totalling $36 million on lending protocol Maple Finance.
Krisztian Sandor / CoinDesk:
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next — Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade.
Shaurya Malwa / CoinDesk:
Facing a large deficit in its treasury, DeFi protocol Sushi proposes diverting fees from the Kanpai protocol and reduces its runway requirement from $9M to $5M — Developers proposed to divert 100% of fees generated on the platform to Sushi’s multisig for one year or until new tokenomics are implemented.
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