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.

Polymarket Considering Token Launch Amidst New $50M Fundraising Talks: Report

Polymarket, a blockchain-based prediction platform, is planning to launch its own token, according to The Information. The company is reportedly seeking to raise over $50 million in funding, with investors potentially receiving token warrants. The token could be used to enhance prediction markets and validate real-world events, marking a significant development in the crypto space post-2022 collapse.

Find details here. 

PayPal Opens Cryptocurrency Market to U.S. Business Accounts

On September 25, PayPal announced that U.S. business account holders can now buy, sell, hold, and transfer cryptocurrencies, broadening crypto access for millions of merchants. However, this feature is not available to merchants in New York.

Read the full story. 

Binance Introduces Exclusive Pre-Market Trading for Launchpool Tokens

Binance has introduced its Pre-Market Spot Trading service, developed with Binance Spot and Launchpool, enabling users to buy tokens before their official spot market listing. Unlike other exchanges that use derivatives, Binance offers actual tokens for trade during this phase, marking a first in the industry. The service aims to provide early access to Launchpool tokens, benefiting both users and token projects by extending token life cycles and offering early market entry.

Learn more in the article. 

Why Caroline Ellison Was Sentenced to Two Years in Prison

Caroline Ellison, ex-CEO of Alameda Research, was sentenced to two years in prison on Sept. 24 for her involvement in a massive financial fraud linked to the collapse of cryptocurrency exchange FTX. Ellison, who was a key figure in the downfall of FTX, testified against her former partner, Sam Bankman-Fried.

Read the full story. 

Celestia Foundation Raises $100M to Expand Modular Blockchain Ecosystem

Celestia Foundation has secured $100 million in a funding round led by Bain Capital Crypto, bringing its total raised capital to $155 million. Notable investors include Syncracy Capital, 1kx, Robot Ventures, and Placeholder. The funds will support Celestia's mission to enhance blockchain scalability through modular architecture, with a focus on scaling, data availability, and creating infrastructure to support real-world applications.

Find details in the article.