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The leading cryptocurrency hit a new-all time high of $38,286.65, before settling down to $36,004.99, up 5.93% over the last 24 hours.

Quick Take

• No surprise, digital asset investors have never been more bullish as crypto clears $1 trillion in total value for the first time ever

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Decentralized finance (DeFi) aggregator Furucombo has raised $1.85 million in seed funding.

The round was backed by SevenX Ventures, Defiance Capital, 1kx, Multicoin Capital, and Aave founder Stani Kulechov, among others. With fresh capital at hand, Furucombo looks to expand its team and launch version 2 of its platform.

As a DeFi aggregator, Furucombo connects different DeFi protocols, such as Uniswap, Compound, and Aave, in one place. Projects like 1inch and Yearn Finance also provide aggregation platforms, but Furucombo is different from both, CEO Hsuan-Ting Chu told The Block.

1inch only aggregates decentralized exchanges, while Furucombo aggregates all kinds of DeFi protocols, said Chu. As for Yearn Finance, he said, the protocol requires writing smart contracts to build a yield farming strategy. With Furucombo, everything is “permissionless.”

“With Yearn Finance’s yVault, you need to know how to communicate with the community, get their votes on your strategy, and wait for some engineer to help you with smart contract building on your strategy. Our strategies are not smart contracts, which means more secure and more efficient…no vote needed, no coding skill needed,” said Chu.

Furucombo went live in March 2020 and is looking to add more DeFi protocols and features in the near future. To that end, the project plans to double its team of 12 to around 24 in the coming months, said Chu.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Quick Take

• The Facebook-backed Diem Association hopes to launch its stablecoin payment project sometime this year, awaiting regulatory approval
• Diem has made a spree of strategic executive hires to emphasize the Diem Association’s independence from Facebook.
• The Block has mapped out the Diem Association’s organizational structure and has highlighted the leadership of each of these compartments, including past work experience.

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Chicago Mercantile Exchange now tops the list of the biggest bitcoin futures trading platforms, accounting for nearly 20% of all open interest.

Peaking implied volatility spreads suggest the emphasis in the markets will shift to ether and other alternative currencies in the short term.

The medical certification app was developed by VeChain and I-Dante last May.

The first actively managed crypto ETP, the BTCA was launched in Switzerland last July.

South Korean gaming giant Nexon is reportedly preparing to acquire Bithumb, the country’s biggest cryptocurrency exchange, for around 500 billion won (~$460 million).

Local outlet Maekyung reported the news on Thursday, saying that Nexon is known to have signed a memorandum of understanding with Bithumb at the beginning of this month to acquire its 65% stake.

If the deal goes through, Nexon will become the owner of three crypto exchanges. The company has acquired Bitstamp and Korbit in the past.

The Bitstamp deal occurred in October 2018, and the buyer was NXMH — NXC’s investment firm (NXC is the parent company of Nexon). The Korbit deal, on the other hand, took place in September 2017 for about $80 million.

This is a developing story and will be updated…

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

U.S. President Donald Trump signed an executive order on Tuesday banning the Alipay payment platform and seven other apps with links to the Chinese, saying the apps can access private information from their users. Separately, U.S. officials are considering banning U.S. citizens from investing in Alibaba Group, an affiliate of Alipay’s parent, and Tencent Holdings, […]