Chaos Labs, a New York-based company specializing in risk management for decentralized finance (DeFi), has secured $55 million in an oversubscribed Series A funding round.
This investment, spearheaded by Haun Ventures, underscores the increasing need for sophisticated risk management tools in the DeFi sector.
Founded in 2021, Chaos Labs addresses issues of high volatility and coordination risks faced by DeFi protocols. The firm has recently doubled its size and expanded its client base, now supporting over 20 protocols such as GMX, Jupiter, and Aave. The new capital will bolster its risk assessment and data analysis capabilities.
The funding round saw participation from notable investors including Spartan Capital, Slow Ventures, F-Prime Capital, PayPal Ventures, Galaxy Ventures, and Lightspeed Venture Partners, as well as angel investors Francesco Agosti and Anatoly Yakovenko.
DeFi platforms, while growing, continue to grapple with significant risk management issues similar to traditional finance. Chaos Labs is working to automate risk management processes to better handle market fluctuations and reduce human error, aiming to improve the efficiency and security of these platforms.
According to crypto analytics firm Santiment, the decentralized oracle network Chainlink (LINK) leads all ERC-20 projects in development activity.
Vice President Kamala Harris, the Democratic candidate for the upcoming presidential election in November, recently spoke at a Wall Street fundraiser where she addressed the cryptocurrency industry for the first time.
Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris’ fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.