Coinbase Joins DeFi Trend With 2M USDC Investment

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The DeFi trend is accelerating and gaining acceptance, with Coinbase joining the fray. The leading brokerage has created the Coinbase Bootstrap Fund, to boost DeFi projects. Coinbase will invest in two projects, the Compound crypto lending scheme, and the dy/dx crypto derivative exchange. project will receive 1 million USDC, a dollar-pegged stablecoin issued in partnership with Circle, Inc.Decentralized Finance, or DeFi, has been a term that confuses many. More and more schemes of high annualized returns are cropping up, offering variations of lending or staking digital coins. As Ethereum (ETH) and altcoins weakened their market returns in 2019, they are now accepted as collateral in lending schemes.Among the largest entities are Maker DAO (MKR), as well as Compound, with new offerings appearing almost every day. Compound, for instance, takes up the DAI stablecoin as collateral, as well as ETH, Tether (USDT), and several other tokens, lending the crypto assets for…

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