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Decentralized finance (DeFi) is on a rally, surpassing $65 billion in total value locked (TVL). With this accomplishment, DeFi is among the top five largest U.S. hedge funds in assets under management (AUM). On February 9, the total value locked in all DeFi protocols reached a multi-year high of $65.612 billion. Notably, the last time decentralized finance saw these numbers in TVL was in June 2022. This metric has currently surpassed the $64.658 billion of August 13, 2022, according to data from DefiLlama . Interestingly, this TVL accounts for 48% of stablecoins’ market cap of $136.408 billion at the time of publication. In the last 24 hours, decentralized exchanges (DEX) moved over $3.4 billion in volume, while nearly $20 billion weekly. The total value locked measures the amount of non-liquid tokens invested in DeFi protocols. In traditional finance, this would be the equivalent of assets under management (AUM), although not managed by a central entity. Total Value Locked in D...

Assets worth about $1 billion belonging to the cryptocurrency hedge fund Three Arrows Capital (3AC) founders were frozen by a British Virgin Islands court. A British Virgin Islands court has frozen about $1 billion in assets owned by the founders of the cryptocurrency hedge fund Three Arrows Capital (3AC), as stated by the firm’s liquidator. The court’s order restricts co-founders Su Zhu and Kyle Davies, and Davies’ wife Kelly Chen, from moving or selling assets valued up to $1.14 billion, with creditors estimated to be owed around $3.3 billion. 3AC, previously one of the biggest crypto-native hedge funds, collapsed in 2022 following a series of unsuccessful investments. “The worldwide freezing order has been sought in connection with claims that are being pursued by the liquidators that allege, among other things, that the founders should be held responsible for causing 3AC’s position to deteriorate by an amount that is equivalent to the value of th...

On November 14, 2023, Crypto.com revealed that its Dubai entity, CRO DAX Middle East FZE, received a Virtual Assets Service Provider (VASP) Licence from Dubai’s Virtual Assets Regulatory Authority (VARA).  The license is contingent upon meeting specified conditions and localization requirements outlined by VARA. Operations can commence upon receiving an operational approval notice from the regulator, as per the latest information shared with Finbold. https://t.co/vCNztATkNg is proud to announce that we have been granted a Virtual Asset Service Provider Licence pending operational approval from Dubai's Virtual Assets Regulatory Authority, building on our position in the #UAE market. Learn more:https://t.co/0anXDLsxTv pic.twitter.com/SgcqSTSqux — Crypto.com (@cryptocom) November 14, 2023 Upon operational approval, the VASP Licence will enable Crypto.com to provide regulated virtual asset services, encompassing exchange, broker-dealer, management, investment, and lending ...

The Korean company Mirae Asset Securities has closed a partnership with Polygon Labs, focusing on the growth of token ized securities networks. Under the partnership, Polygon Labs will work as a Mirae Asset Security Token Working Group consultant. Both companies will put joint efforts into constructing the infrastructure for token ized securities platforms. The partnership’s main aim will be establishing both companies as asset token ization leaders worldwide. Polygon, formerly Matic Network, was founded in 2017 by Jaynti Kanani, Mihailo Bjelic, Anurag Arjun, and Sandeep Nailwal. The project initially aimed to address the scalability issues of the Ethereum (ETH) network. However, in February 2021, the framework was rebranded as Polygon with an expanded goal of supporting the creation and connection of Ethereum-compliant blockchains. Polygon’s main objective is to reduce transaction fees and significantly increase transaction speed on the Ethereum network. By providing ...