Audits and rug-pulled initiatives, a $650B token burn, and main DeFi protocol quits UK: Finance Redefined

Welcome to Finance Redefined, your weekly dose of important decentralized finance (DeFi) insights — a e-newsletter crafted to convey you essentially the most vital developments from the previous week.

The previous week in DeFi was full of bullish resurgences for a lot of initiatives, but it surely was the founder’s $650 billion HayCoin (HAY) burn — 99% of the token provide — that grabbed headlines. In different information, a brand new report highlighted that 85% of the rug-pulled DeFi initiatives in Q3 didn’t report an audit, and the biggest DeFi protocol on has shut down its United Kingdom operations as a consequence of strict rules imposed by the Monetary Conduct Authority (FCA).

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