Coinbase launches fund to invest in DeFi protocols, depositing 2 million USDC in Compound, dYdX
Coinbase has announced a new fund aimed at bootstrapping DeFi protocols. The USDC Bootstrap Fund will invest the USDC stablecoin into protocols in the nascent space starting with $2 million worth of USDC to lending protocols Compound and dYdX. Unlike a VC fund the Bootstrap Fund will simply deposit funds in the protocol and collect interest.
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