Read the latest version of our DeFi newsletter: Finance Redefined. Written by tomfarrencrypto
Following a bearish decline for many of the leading decentralized finance tokens, it is within the fundamental news where the optimism for growth and prosperity lies. Read on to hear about the most impactful DeFi stories of the last seven days.
Comprising a $225 million ecosystem fund and a $175 million accelerator fund, the capital raise was supported by a number of existing partner organizations, including BlockTower Capital, Arrington Capital and Fenbushi Capital. Secret Foundation founder Tor Bair told Cointelegraph that the capital will be used to “scale privacy-first, decentralized applications to global adoption by millions of users," as well as emphasizing the importance of Web3 technology, stating that “privacy technologies are essential to ensure that Web3 will be empowering and open, rather than an extension of the failures of Web 2.0.”
Despite the fanfare around the launch of these tokens by fans and the wider film community, production company Miramax filed a lawsuit on Nov. 17 accusing director Quentin Tarantino of copyright infringement in pursuing this NFT venture, citing that it interferes with their own visions of future NFT launches and is simply a cash-grab that could potentially devalue the film’s reputable public image. The case remains ongoing at the time of writing.