Welcome to Finance Redefined, your weekly dose of crucial insights into decentralized finance (DeFi) – a newsletter designed to bring you the most important updates from the past week.
Tokenization of over $1 billion worth of United States Treasurys on Ethereum, Polygon, Solana, and other blockchains is on the rise, reflecting a growing trend in real-world asset tokenization.
In a significant setback for the U.S. Securities and Exchange Commission (SEC) and a victory for DeFi, a U.S. judge has ruled that Coinbase’s self-custody crypto wallet does not make it a broker.
Coinbase’s layer-2 platform Base has experienced a surge in activity due to the memecoin frenzy, with its total value locked (TVL) doubling in just one month.
Over $1 billion in U.S. Treasurys have been successfully tokenized on various blockchains.
BlackRock’s product, known as “BUIDL,” was launched on Ethereum on March 20 and currently has a market cap of $244.8 million.
According to Etherscan, the fund received $95 million from four transactions in the past week, making it the second-largest tokenized government securities fund.
The recent dismissal of allegations against Coinbase Wallet by a U.S. judge is being celebrated as a major win for self-custody wallets and DeFi applications.
U.S. District Judge Katherine Failla denied Coinbase’s bid to dismiss an SEC lawsuit, but ruled that the SEC failed to prove that Coinbase conducted brokerage activity through Coinbase Wallet.
Solana-based decentralized exchange (DEX) Jupiter has allocated $137 million in initial capital, consisting of 10 million USDC and 100 million JUP tokens, to kick-start its native DAO.
Jupiter aims to fund ideas using USDC and align long-term incentives with JUP contributors. The DAO’s budget will be replenished annually to ensure its ability to execute crucial tasks.
Base, an Ethereum layer-2 network, has seen its total value locked (TVL) double in less than a month, reaching $2.13 billion. Experts believe it could become a hub for memecoins.
Base achieved $1 billion in TVL on February 27, just 25 days after its launch in August 2023. It crossed the $2 billion mark on March 23, according to data from L2Beat.
In the DeFi market, the top 100 tokens by market capitalization had a bearish week, with most experiencing negative price movements. However, the total value locked in DeFi protocols surpassed $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 evolving space.