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MakerDAO Decentralizes, New Crypto Investments + More News

MakerDAO Decentralizes, New Crypto Investments + More News 101
Source: Adobe/Сергей Шиманович

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Decentralization news

  • MakerDAO (MKR) is now completely decentralized, Rune Christensen, CEO of the Maker Foundation, said in a blog post today. “With several Core Units approved by governance to efficiently organize all areas of work within the DAO [decentralized autonomous organization] and the global community now responsible for every aspect of the Maker Protocol, the DAO is now fully self-sufficient and the Maker Foundation has fulfilled its bootstrapping responsibilities,” he said, adding that the Foundation will formally dissolve within the next few months.

Investments news

  • Pillar VC said it has closed USD 192m of capital for Pillar III (USD 169,) and Pillar Select (USD 23m), the firm’s latest venture funds. The firm, that invested in crypto projects such as Algorand (ALGO) and Circle, said that Pillar III will continue to invest in all kinds of technology and business model innovation such as enterprise SaaS, AI/ML, crypto, fintech, hardware, manufacturing and logistics, proptech, and consumer markets.
  • Titan, a retail investment platform, said it has closed USD 58m in Series B fundraising led by Andreessen Horowitz (a16z), with participation from existing investors including General Catalyst, BoxGroup, and Ashton Kutcher’s Sound Ventures. The initial strategies on Titan’s platform are predominantly in stocks, but the platform said it “is quickly expanding into other asset classes, entering new territory where legacy players have yet to tread.”
  • Liquidity management protocol Visor Finance has announced a USD 3.5m funding round led by investment company 1confirmation. The funds will enable Visor to develop the next phase of its Active Management Protocol.

Blockchain news

  • Crypto platform Crypto.com said it has introduced the new testnet of Cronos, their Ethereum Virtual Machine (EVM) chain, which runs in parallel with their existing Crypto.com Chain. Cronos aims to scale the decentralized finance (DeFi) ecosystem, by providing developers with the ability to rapidly port apps from Ethereum (ETH) and EVM-compatible chains.

NFTs news

  • Blockchain platform for non-fungible tokens (NFTs) Enjin (ENJ) said it has joined the United Nations Global Compact, a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Enjin said it “will explore novel ways of utilizing NFTs to carry out the UN’s missions of sustainability and equality.”
  • The US Securities and Exchange Commission (SEC) said it has filed an emergency action and obtained a temporary restraining order and asset freeze to halt an alleged ongoing offering fraud by Las Vegas-based Profit Connect Wealth Services Inc., which has raised more than USD 12m from at least 277 retail investors. Per the SEC, the organization has raised funds under the pretense that they would be invested in securities and cryptocurrencies based on recommendations made by an “artificial intelligence supercomputer,” and claiming to guarantee enormous returns.

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