Recapping the Week in DeFi

As the DeFi and crypto space continues to evolve at a rapid pace, it's essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.

MicroStrategy Grows Bitcoin Holdings, Nearing U.S. Government Reserves

MicroStrategy has expanded its Bitcoin reserves by acquiring an additional 14,620 bitcoins, totaling $615 million. This move brings the company's overall Bitcoin investment to nearly $1.2 billion since November.  With this latest acquisition, MicroStrategy is now just 20,000 bitcoins away from matching the U.S. government's holdings of 210,429 bitcoins.

Learn more in the article. 

Vitalik Buterin Outlines 3 Pathways To Streamline Ethereum’s PoS Model 

Ethereum's Vitalik Buterin has identified concerns regarding the inherent complexity in Ethereum's proof-of-stake (PoS) consensus mechanism. In response, Buterin has outlined three potential solutions to streamline the process. His first proposal involves designing a system that requires just 8,192 signatures per slot, even with the inclusion of SSF (super simple fast), aiming to simplify and lighten the consensus implementation.

Find more information here. 

OKX To Delist of Privacy-Focused Cryptocurrencies In 2024

Cryptocurrency exchange OKX has revealed plans to delist privacy-focused coins Monero (XMR) and Dash (DASH), along with stablecoins USD Coin (USDC) and Tether (USDT) from Bitcoin (BTC) trading pairs. The delisting is set for January 4 and 5, 2024, prompting speculation within the crypto community about the rationale behind this move.

Read the full story here. 

Blast Records Over $1B in Deposits Months Before Going Live

Layer 2 network Blast has attracted an impressive $1.12 billion in deposits, despite its official launch still being months away in February. The platform, offering a substantial 5% yield on staked assets, recently went live, providing depositors with "Blast Points" that can be redeemed during the promised May airdrop. 

Find more details in the article.

Crypto VC Investments Hit $10.7B in 2023, Marking a 68% YoY Decline

Crypto and blockchain startups received $10.7B in venture capital funding in 2023, down 68% from the previous year's $33.3B, as reported by Crunchbase. Notably, there was a shift towards early-stage ventures like pre-seed, seed, and Series A, indicating changing investor priorities in the crypto space.

Read the full story.