Huobi Invests Tens of Millions of Dollars in the DeFi Sector

The operator of the cryptocurrency exchange Huobi has established a fund to invest in the DeFi sector. According to CoinDesk, the fund’s assets total tens of millions of dollars.

Huobi DeFi Labs will focus on research, investments and development of projects in the DeFi space. The department is led by Sharlene Wu, who previously headed the blockchain investments division at China Merchant Bank International.

“It is fascinating to see how the power of a free economy is unleashed on a global scale. However, there are still many problems to be solved at the theoretical and practical levels,” he noted.

With the growth of the DeFi sector, venture capital interest has grown as well. In late July, Polychain and Three Arrows invested a seven-figure sum in the KeeperDAO project, which acts as a liquidity guarantor in the DeFi sector.

In early June, experts at the Tokeninsight analytical startup concluded that the Huobi Token, the exchange token, was trading below its fair value.

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