Welcome to Finance Redefined, your weekly source of crucial insights into decentralized finance (DeFi) – a newsletter designed to bring you the most important updates from the past week.
In a growing trend of real-world asset tokenization, over $1 billion worth of United States Treasurys have been tokenized on Ethereum, Polygon, Solana, and other blockchains.
A U.S. judge has delivered a significant setback to the U.S. Securities and Exchange Commission (SEC) by ruling that Coinbase’s self-custody crypto wallet does not classify it as a broker. This judgment is seen as a major win for DeFi.
Coinbase’s layer-2 platform Base has experienced a surge in activity due to the memecoin frenzy. Its total value locked (TVL) on-chain has doubled in just one month.
The tokenization of U.S. Treasurys has now reached over $1 billion across various blockchains. This growth has been supported by the recent launch of BlackRock’s USD Institutional Digital Liquidity Fund, known as “BUIDL,” on Ethereum.
Coinbase Wallet’s recent legal victory against the SEC is being celebrated by crypto lawyers as a win for self-custody wallets and DeFi applications. The judge ruled that the SEC failed to prove Coinbase’s brokerage activity through Coinbase Wallet.
The Solana-based decentralized exchange (DEX) Jupiter has kickstarted its native DAO with an initial capital of $137 million. This includes 10 million USDC and 100 million JUP tokens, ensuring long-term incentive alignment with J.U.P Contributors.
Base, an Ethereum layer-2 network, has witnessed a doubling of its TVL in less than a month, reaching $2.13 billion. Experts suggest that it could become the next hub for memecoins.
In the DeFi market, the top 100 tokens by market capitalization had a bearish week, with most experiencing losses on the weekly charts. However, the total value locked in DeFi protocols has risen above $100 billion.
Thank you for reading our summary of the most significant DeFi developments this week. Join us next Friday for more stories, insights, and education on this rapidly advancing space.