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Swan Bitcoin recently announced numerous new lines of business, including bitcoin-backed lending, venture and private equity investments, and incredibly, a trading fund. Indeed, despite repeated warnings against active trading and an unwavering buy-and-hold message regarding bitcoin, Swan has hired a quant trader from Chicago to actively trade the currency. Fortune Crypto wrote that Swan “deployed” $200 million worth of capital in 2023. In that piece, Fortune publicized Swan’s “$40 million in funding raised in 2023 for expansion efforts.” However, it was initially difficult to determine exactly how much equity Swan sold to raise that capital. That “$40 million in funding raised” number was absent from Swan’s press release and it took several weeks for Swan founder and CEO Cory Klippsten to clarify that the raise was a convertible note that will roll into an upcoming fundraising round. In an email to Protos, Klippsten further explained, “ $16.5 million was in our Seri...

Following a recent exploit on the decentralized exchange, Curve Finance founder Michael Egorov managed to find an answer to his loan dilemma. Thanks to support from a group of backers, including Justin Sun, the principal value of Egorov’s loan on Aave (AAVE) decreased from $63.3 million to $54.1 million. Providing support to the fallen  On July 30, Curve Finance faced a vulnerability linked to the Vyper programming language, resulting in an exploit that led hackers to seize approximately $52 million in crypto assets. The attack included 7.19 million CRV tokens valued at $4.52 million, causing a sharp decline in the CRV price to two-month lows of $0.59, increasing the risk of liquidation for Michael Egorov’s loans. Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentra...