Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.
Traditional finance, or TradFi, continues to explore the world of cryptocurrencies and blockchain technology, with the World Economic Forum holding more workshops and sessions for the sector in 2023.
Layer-1 blockchain protocol, Injective, has launched a $150 million ecosystem fund to support developers building on the Cosmos network.
The Mango Markets saga took another turn this past week, as the company filed a lawsuit against the exploiter Avraham Eisenberg for $47 million in damages plus interest. The lawsuit marks the fourth time the Mango Markets exploiter has been hit by charges or lawsuits relating to his attack on the DeFi protocol.
Blockchain transaction history shows that the hacker transferred the funds onto a decentralized exchange and then went on to cycle funds around different DeFi protocols.
The top 100 DeFi tokens continued their bullish momentum into the final week of January, with most of the tokens trading in green and a few even registering double-digit gains.
TradFi and DeFi come together — Davos 2023
On this episode of Decentralize With Cointelegraph, the team reflects on their week in Davos covering the World Economic Forum as crypto and TradFi continue to collide.
Speaking to several industry insiders and TradFi participants, Cointelegraph journalist Gareth Jenkinson highlighted the ongoing cross-pollination between the sectors. Still, just a handful of crypto participants were involved in conversations inside the World Economic Forum.
Injective launches $150 million ecosystem fund to boost DeFi, Cosmos adoption
Injective, a layer-1 blockchain protocol founded in 2018, has launched a $150 million ecosystem fund to support developers building on the Cosmos network.
The ecosystem group is backed by a large consortium of venture capital and Web3 firms, including Pantera Capital, Kraken Ventures, Jump Crypto, KuCoin Ventures, Delphi Labs, IDG Capital, Gate Labs and Flow Traders. According to Injective, the consortium is the largest assembled within the broader Cosmos ecosystem.
Mango Markets sues Avraham Eisenberg for $47 million in damages plus interest
Mango Labs, the company behind the DeFi protocol Mango Markets, has filed a lawsuit against exploiter Avraham Eisenberg.
The Jan. 25 filing in the United States District Court…
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